Redwire completes first deployment test of lunar Gateway solar arrays

JACKSONVILLE, Fla. - Redwire Corporation (NYSE:RDW), a $2.18 billion aerospace technology company with annual revenues of $277.7 million, has successfully completed the first deployment test for one of its Roll-Out Solar Arrays (ROSA) designed for NASA’s lunar Gateway’s Power and Propulsion Element (PPE), according to a press release statement. According to InvestingPro data, analysts expect the company’s net income to grow this year, signaling potential strengthening of its space technology business.

The Gateway ROSAs will generate 60kW of power, making them the most powerful ROSAs ever constructed. Redwire was contracted by Maxar, the prime contractor for PPE, to develop two ROSA wings for the lunar space station.

Additional testing of the PPE ROSAs will continue in the coming months as Redwire prepares to deliver the ROSA wings to Maxar in the fourth quarter of 2025.

Adam Biskner, Redwire President of Space Systems, said, "These ROSAs represent a significant technology achievement that will propel human spaceflight into a bold future."

The company hosted representatives from several Gateway partners to witness the ROSA deployment test, including officials from Maxar, Northrop Grumman, the European Space Agency, the Consulate General of Canada, the Japan Aerospace Exploration Agency, and the United Arab Emirates’ Mohammed Bin Rashid Space Centre. For investors seeking deeper insights, InvestingPro offers 12 additional exclusive tips and comprehensive analysis of Redwire’s financial health and growth prospects.

The lunar Gateway is being developed as part of NASA’s Artemis program to establish a sustainable presence on and around the Moon. The Power and Propulsion Element will provide power and enable orbital adjustments for the modular space station.

Redwire Corporation specializes in aerospace and defense technology solutions with approximately 1,300 employees across the United States and Europe. The company’s stock has demonstrated remarkable performance with a 121.56% return over the past year, while analysts maintain a bullish outlook with price targets ranging from $16 to $28 per share. Get detailed valuation metrics and expert analysis through InvestingPro’s comprehensive research report, part of its coverage of over 1,400 US equities.

In other recent news, Redwire Corporation has completed the acquisition of Edge Autonomy in a transaction valued at over $1.14 billion. This strategic move is expected to enhance Redwire’s offerings in autonomous systems and energy solutions for defense and government sectors. Additionally, Redwire has launched an upsized public offering of 15,525,000 shares of common stock priced at $16.75 per share, anticipated to generate approximately $260 million in gross proceeds. The company plans to use the funds for general corporate purposes, including repurchasing a portion of its convertible preferred stock and repaying a seller note related to the Edge Autonomy acquisition. The offering, managed by firms such as J.P. Morgan and BofA Securities, is expected to close on or about June 18, 2025. In a related development, Truist Securities has initiated coverage on Redwire with a hold rating, setting a price target of $16.00. This reflects Truist’s assessment of Redwire’s position in the growing space infrastructure market. These developments highlight Redwire’s ongoing efforts to strengthen its market presence and financial position.

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