New name signals company's focus on leading new era of space innovation
BRAMPTON, ON, March 7, 2024 /PRNewswire/ - MDA Ltd. (TSX: MDA), a trusted mission partner to the rapidly expanding global space industry, today announced it has rebranded to MDA Space, an identity evolution that honours the past, recognizes the present, and further positions the company to lead in a new era of space innovation.
"The addition of Space to our brand is a natural evolution. The core of our brand identity is, and always will be, MDA - the three iconic letters that stand for our 55-year heritage, our more than 450 missions, and our record of firsts," said Mike Greenley, CEO of MDA Space. "Today, MDA is honoured to have the trust of some of the world's biggest players and most innovative companies driving the expansion of the global space economy."
The global space economy is accelerating and scaling at a rapid rate, growing to $509B in 2023 and projected to become a $1.5T industry by 2040.
MDA Space has also seen extraordinary growth in recent years, with an expanding operational footprint and a rapidly growing workforce that now numbers 3,000 space engineers, scientists, technicians, and business leaders across Canada, the United States and the United Kingdom.
"Our mission is to build the space between proven and possible," added Greenley. "It's what we have always done and it's what we will keep on doing. At MDA Space, we have an elite and highly-skilled team creating solutions that bring our customers value and help them to address some of the most critical problems and complex challenges on Earth. We are ready to support and enable the next era of yet-to-be-imagined missions."
To meet the needs of the emerging global commercial space market, MDA Space has invested in one of the world's most diverse portfolios of proven next-generation space technology, including:
- A game-changing new software-defined satellite product that addresses the growing demand for higher performance and cost-effective digital constellations;
- CHORUS, a fourth-generation Earth observation constellation that builds on the legendary RADARSAT program that will provide market-leading data and insights; and,
- A new suite of cost-effective, flexible and readily-available commercial space robotics that can serve a variety of missions, leveraging best-in-class technology derived from Canadarm3.
Building the space between proven and possible, MDA Space (TSX:MDA) is a trusted mission partner to the global space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The MDA Space team of more than 3,000 space experts in Canada, the US and the UK has the knowledge and know-how to turn an audacious customer vision into an achievable mission - bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that's been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we'll take you there. For more information, visit www.mda.space.
FORWARD-LOOKING STATEMENTSThis press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's Annual Information Form available on SEDAR+ at www.sedarplus.com. MDA Space does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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SOURCE MDA Ltd.
