What is New with Redwire Space

Here are a few updates on Redwire Space. 

A Little Bit about Redwire Space

Redwire Space is a company developed through acquisition deals targeting a series of space technology firms. In essence, Redwire Space operates to enhance humanity’s expansion into space by providing reliable, economical, and sustainable infrastructure for the current and future space ventures. 

The space tech firm has experienced a significant volume of business wins, a robust backlog, order volume gains, and a remarkable expansion through acquisition deals. It seeks to demonstrate its strength and breadth in space infrastructure solutions.

Redwire Financial Assets

The space tech announced the results for its financial year ended December 31, 2021, on March 31, 2022. Redwire Space noted that its total backlog increased to $271.6 million in the fiscal report, providing a promising outlook for future revenue growth.

A review of the financial report indicates that the company’s revenue increased by 237% (from $40.8 million to $96.8 million) for the related 2020 period.

Redwire Is Integral in Space Launches

Redwire was a key player and contributor of capabilities in the space industry’s 12 launches held in 2021 and has confirmed that it will participate in 8 other launches planned for 2022. It proves its position as a purpose-built and innovative space service and infrastructure provider.

The Recent Acquisition of Techshot

As part of the stellar organic growth that space tech  firm has enjoyed, Redwire has expressed its progress after acquiring Techshot Inc., revealing that it will help it advance its unique positioning as a leader in space commercialization and on-orbit manufacturing operations.

Techshot is distinguished as a leading company in space biotechnology operations like space biomedical research, plant science, and the game-changing In-Space 3D bioprinting capabilities.

Redwire is Now Public

Similarly, Redwire reported that it had finalized the rigorous de-SPAC process and had started trading on the New York Stock Exchange on September 3, 2021.

The space tech firm was also selected as a strategic mission associate by Virgin Orbit and Terran Orbital to help in providing a range of products and services that will support the two companies’ constellation capabilities and expanding launches like dynamic mission simulation software, digital engineering, payload adapters roll out solar arrays, and star trackers.

Similarly, Redwire established strategic partnerships with leading companies in the space technology industry, working on the new Orbital Reef project. The partnership seeks to strengthen the next-gen commercial ecosystem in Low Earth Orbit (LEO). Redwire is expected to utilize its state of the art space capabilities like digital engineering, ROSA technology, and microgravity manufacturing expertise.