Redwire Corporation (NYSE:RDW) shares are trading higher Tuesday after the company announced it was awarded a $12.8 million contract to deliver Extensible Low-Profile Solar Array wings to Moog.
- Redwire shares are advancing steadily. Why is RDW stock advancing?
First Commercial Sale Of ELSA Solar Array System
The contract includes the design, manufacturing, testing and delivery of Redwire's ELSA solar array wings, which will be integrated into Moog's METEOR satellite bus for a Low Earth Orbit mission supporting an undisclosed national security customer.
The award also marks the first sale of Redwire's ELSA product, a high-performance, low-mass solar array designed to support low- to medium-power applications across multiple orbits.
Redwire said the ELSA solar array wings have been selected by Moog as a standard component for its METEOR ESPA-Grande satellite platform, which is designed for a range of missions, including constellation and disaggregated architectures.
The company noted that ELSA is engineered for volume production and offers faster delivery timelines. The solar arrays are designed to reduce stowed volume and mass while delivering competitive performance and pricing, with up to 50% more power by volume compared to traditional arrays.
Redwire Shares Edge Higher
RDW Price Action: At the time of publication, Redwire shares are trading 0.23% higher at $9.40, according to data from Benzinga Pro.
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