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OTTAWA - MDA Space Ltd. (TSX:MDA), a $3.1 billion market cap space technology company whose stock has surged 153% over the past year, has assumed operational control of the David Florida Laboratory (DFL) in Ottawa, securing the future of Canada’s only commercial spacecraft testing facility, according to a press release issued Friday. InvestingPro analysis indicates the company maintains a GREAT financial health score of 3.4/5.
The laboratory, previously owned and operated by the Canadian Government since the 1970s, provides essential infrastructure for the assembly, integration and testing of spacecraft and satellite systems to ensure they can withstand space conditions.
DFL has supported numerous significant space projects including components of the James Webb Space Telescope, Canadarm space robotics, the RADARSAT Earth observation satellites, and multiple generations of communications satellites.
"The David Florida Laboratory is an irreplaceable national asset and the operational transfer to industry at a time of rapid commercialization of the global and domestic space industry is a natural evolution," said Mike Greenley, CEO of MDA Space.
The facility will continue to offer electromagnetic compatibility, thermal vacuum, antenna and vibration test services. MDA Space states it will provide access to all industry partners on a fee-for-services basis.
This transition ensures the strategic testing facility remains under Canadian control and available to the domestic space industry. No other facility with similar capabilities is commercially available in Canada, according to the company’s statement.
MDA Space, which employs over 3,400 space experts across Canada, the US and the UK, has been involved in more than 450 space missions throughout its 55-year history. The company has demonstrated robust growth with revenue increasing 50% in the last twelve months. For detailed insights and comprehensive analysis, including 12+ additional ProTips, check out MDA’s full research report on InvestingPro.
In other recent news, MDA Space Ltd. has secured contracts valued at $60 million to deliver and integrate sensor systems for the Royal Canadian Navy’s River-class Destroyer program. These systems aim to enhance situational awareness and protect vessels against laser and optical guided threats. The technology is being developed across multiple Canadian locations, including Richmond, Halifax, and Brampton. Additionally, MDA Space and SatixFy Communications Ltd. have announced a merger, with SatixFy shareholders overwhelmingly approving the all-cash deal. The merger, expected to close in the third quarter of 2025, values SatixFy at approximately $280 million. This revised offer came after SatixFy received an alternative proposal, which MDA Space disputed. The acquisition is anticipated to enhance MDA’s satellite systems capabilities, with the transaction expected to be accretive to MDA’s adjusted earnings in 2027. The deal has received unanimous approval from both companies’ Boards of Directors and major SatixFy shareholders.
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