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Sidus Space (NASDAQ: SIDU) Enters Into Agreement with SpaceX for Five Launches of LizzieSat in 2023

by admin

September 7, 2022

in Technology

Sidus Space NASDAQ SIDU SpaceX Five Launches LizzieSat 2023 Spotlight Growth

Sidus Space, Inc. (NASDAQ: SIDU) is engaged as a vertically-integrated Space-as-a-Service provider, which focuses on mission-critical hardware manufacturing, engineering, satellite design, launch planning, production, mission operations and more. The space company operates a 35,000-square-foot manufacturing, assembly, testing and production facility in Cape Canaveral, Florida. Shares of the space company are rallying 32% through early trading on Wednesday, September 7, 2022. Over the past three months, Sidus Space has seen average daily volume of 6.23 million shares. However, volume of 23.69 million shares or dollar volume of around $83.15 million, has already exchanged hands through early trading.

Shares of Sidus Space are gaining after the company announced it has entered into a multiple launch agreement with SpaceX. The agreement accounts for five launches in 2023, which will send Sidus Space’s LizzieSat into space. Sidus Space says the launches will be to support existing contracts with NASA, Mission Helios, as well as prospective customers.

LizzieSat is a multi-mission LEO satellite constellation that is capable of operating in diverse orbits. The satellite technology is in the advanced stages of development and is designed to offer clients with flying custom payloads. The satellites are 3D-printed to maximize volume in a lightweight frame.

Carol Craig, Sidus Space Founder and CEO said: “We are excited to partner with SpaceX for safe, reliable launch services for multiple LizzieSat^TM satellite deployments into diverse orbits that meet our customer’s needs. We look forward to continuing our journey of ‘Bringing Space Down to Earth’ for a variety of customers, industries, and new use cases. Our agreements with SpaceX and other launch partners will allow us to develop a consistent launch cadence for Sidus Space moving forward. Participation in these SpaceX launches will enable Sidus to meet the robust demand for our services.”

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/