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MDA Space Receives Notice to Proceed Contract From the European Space Company

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MDA Space (MDA.TO) said Tuesday it received a pre-authorization to proceed contract from European space systems provider OHB System.

MDA will deliver lunar landing sensors for the European Space Agency's Argonaut spacecraft. These sensors will enable Argonaut to identify and navigate surface hazards such as craters, boulders, and rough terrain on the lunar surface, a statement said.

The contract sees MDA Space supplying two flight units of its LEIA Light Detection and Ranging (LiDAR) sensor for Argonaut's inaugural mission to the moon, expected in 2030, in support of NASA's Artemis Program.

"This partnership with OHB underscores our expertise in autonomous landing technologies and demonstrates the strength and innovation of the UK space sector," Andrew Stanniland, Managing Director, MDA Space UK, said in a release. "By providing LEIA, our advanced 3D sensor technology, MDA Space will contribute directly to enabling Europe's independent access and sustained presence on the moon for the first time."

The company's shares were last seen up C$2.33, or 5.5%, to C$44.50 on the Toronto Stock Exchange.

Price: $44.42, Change: $+2.25, Percent Change: +5.34%

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