Maxar Technologies (TSX:MAXR)
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6 Months : From Jan 2019 to Jul 2019
Innovative spacecraft on track to make history as first-ever to refuel satellite in Low Earth Orbit
WESTMINSTER, CO, April 8, 2019 /CNW/ - Maxar Technologies (NYSE:MAXR) (TSX:MAXR), a U.S.-based global technology innovator powering the new space economy, today announced that the spacecraft bus it is building for NASA's Restore-L project to refuel a satellite in Low Earth Orbit (LEO) has completed an important review process called the Critical Design Review (CDR). With the CDR complete, the spacecraft bus is on track to ship to NASA in 2020 for integration with the robotic payload and a forecasted launch in 2022. Maxar is also building both nimble robotic arms for the Restore-L spacecraft, which will capture, manipulate and refuel the Landsat 7 satellite.
As previously announced, Maxar is working with NASA Goddard Space Flight Center's Satellite Servicing Projects Division (SSPD) to build a spacecraft that will rendezvous with, refuel, and safely release the U.S. Geological Survey's Landsat 7 remote sensing satellite in LEO. Restore-L is funded by NASA's Space Technology Mission Directorate. In addition to demonstrating the ability to refuel a satellite that was not designed to be serviced, Restore-L aims to validate the use of tools, technologies and techniques developed to enable future exploration missions and jumpstart a new satellite servicing industry for government and commercial customers.
The CDR took place over a five-day period at Maxar's Silicon Valley manufacturing facility and demonstrated that the company's spacecraft bus design meets mission requirements. NASA missions undergo multiple rigorous technical and programmatic reviews as they proceed through the phases of development prior to launch. The CDR is the third of six major NASA mission milestones, culminating with the spacecraft's launch.
The Maxar-built Restore-L spacecraft bus will provide the structural support, propulsion, attitude control, data and communications interface and power to support the Restore-L robotic payload for the on-orbit demonstration. The spacecraft design is based on Maxar's decades-proven 1300-class platform, which has the flexibility and power to enable a broad range of missions and technology advances.
"The technologies proven on Restore-L are of great value to future exploration and science missions, and will play a crucial role in enabling our exploration of the Moon and beyond," said Mike Edwards, Maxar's Senior Vice President of Strategic Growth. "Satellite servicing is one of many disruptive technologies that Maxar is pioneering to provide our customers with expanded options for more resilient and cost-effective operations in space."
Read about some of the other space infrastructure projects that Maxar is working on in our blog.
The operations of DigitalGlobe, SSL and Radiant Solutions were unified under the Maxar brand in February; MDA continues to operate as an independent business unit within the Maxar organization.
About Maxar Technologies
As a global leader of advanced space technology solutions, Maxar is at the nexus of the new space economy, developing and sustaining the infrastructure and delivering the information, services, systems that unlock the promise of space for commercial and government markets. The operations of DigitalGlobe, SSL and Radiant Solutions were unified under the Maxar brand in February; MDA continues to operate as an independent business unit within the Maxar organization. As a trusted partner with 5,900 employees in over 30 global locations, Maxar provides vertically integrated capabilities and expertise including satellites, Earth imagery, robotics, geospatial data and analytics to help customers anticipate and address their most complex mission-critical challenges with confidence. Every day, billions of people rely on Maxar to communicate, share information and data, and deliver insights that Build a Better World. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com.
Certain statements and other information included in this release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws. Statements including words such as "may", "will", "could", "should", "would", "plan", "potential", "intend", "anticipate", "believe", "estimate" or "expect" and other words, terms and phrases of similar meaning are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties, as well as other statements referring to or including forward-looking information included in this press release.
Forward-looking statements are subject to various risks and uncertainties which could cause actual results to differ materially from the anticipated results or expectations expressed in this release. As a result, although management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The risks that could cause actual results to differ materially from current expectations include, but are not limited to, the risk factors and other disclosures about the Company and its business included in the Company's continuous disclosure materials filed from time to time with Canadian and U.S. securities regulatory authorities, which are available online under the Company's EDGAR profile at www.sec.gov, under the Company's SEDAR profile at www.sedar.com or on the Company's website at www.maxar.com.
The forward-looking statements contained in this release are expressly qualified in their entirety by the foregoing cautionary statements. All such forward-looking statements are based upon data available as of the date of this release or other specified date and speak only as of such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this release as a result of new information or future events, except as may be required under applicable securities legislation.
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SOURCE Maxar Technologies Ltd.