Sidus Space Inc (NASDAQ:SIDU) said that it is expanding its relationship with Teledyne Marine, a part of Teledyne Technologies Inc, following a successful second quarter.
The three-month period marks the strongest revenue quarter between the parties since their partnership began four years ago, the company said.
As part of the increasing scope of work and revenue with Teledyne Marine, Sidus Space said it will now manufacture components for Teledyne Marine’s Massachusetts facility and will continue supplying components to Teledyne Marine’s facilities in Texas and Florida.
READ: Sidus Space says partner's satellite orbital deployer achieved space qualification with successful launch
Sidus Space signed its first two-year master supply agreement with Teledyne Marine in July 2019, followed by a two-year product pricing agreement in September 2021.
“We’ve been fortunate to build components for Teledyne Marine since 2019, and we’re excited to see our relationship grow and prosper,” Sidus Space CEO Carol Craig said in a statement. “Teledyne Marine’s increased trust in Sidus is a testament to the quality of products we develop and the value we provide to our partners. We look forward to working together in the years to come.”
From its 35,000-square-foot manufacturing, assembly, integration, and testing facility in Florida, Sidus is focused on vertically integrated Space-as-a-Service solutions, including end-to-end satellite support.
The firm’s range of Space-as-a-Service offerings include space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel