$2.1B contract
for 198 satellites is the largest award in MDA's history
BRAMPTON, ON, Aug. 11,
2023 /PRNewswire/ - MDA Ltd. (TSX: MDA), a leading
provider of advanced technology and services to the rapidly
expanding global space industry, today announced it has been
selected as the prime contractor for Telesat's (NASDAQ: TSAT) (TSX:
TSAT) revolutionary Low Earth Orbit (LEO) satellite constellation
Telesat Lightspeed, an innovative global network that will bring
enhanced digital connectivity to Canadians and customers worldwide.
Valued at approximately $2.1 billion,
the contract is the largest in MDA's history and includes the
design, manufacture, assembly and test of 198 satellites with
options for Telesat to purchase up to 100 additional
satellites.
Telesat Lightspeed is the second prime satellite contract for a
LEO constellation awarded to MDA in the past eighteen months. These
major wins demonstrate tangible results from our multi-year
strategy and investments to capitalize on the growing global market
demand for satellite services for communications and other
applications.
"We're pleased to partner with Telesat to use the combined
world-leading talent and technology of our teams to bring the
Telesat Lightspeed mission to life," said Mike Greenley, CEO of MDA. "Our ability to
leverage MDA's strategic investments in our new digital satellite
product portfolio and advanced manufacturing capability to deliver
significant cost and schedule benefits to Telesat Lightspeed is
another tangible example of how we are strengthening and securing
MDA's position at the heart of the rapidly growing global LEO
constellation and satellite systems market."
The Telesat Lightspeed satellites will be built, assembled and
tested at MDA's state-of-the-art high volume satellite
manufacturing facilities in Montreal. Our production lines leverage
Industry 5.0 techniques including AI, automation, cobots, augmented
reality and highly-skilled assemblers to meet the accelerated rates
required for high volume non-geostationary orbit (NGSO) satellite
systems. With this contract, Telesat becomes the anchor customer
for MDA's new software-defined digital satellite product line.
"We are excited to be moving forward on the Telesat Lightspeed
program with MDA in an expanded role that enables us to leverage
MDA's innovative and advanced digital satellite products and
real-world experience as a satellite prime for LEO programs," said
Dan Goldberg, President and CEO of
Telesat. "MDA's next-generation on-board processor and direct
radiating array antennas with digital beamforming roughly triples
the number of beams per satellite. This will enable us to achieve
significant cost improvements and network efficiency, including
better link performance and greater flexibility in geographic
coverage. With program funding now in place and MDA selected as the
satellite prime contractor, we look forward to making Telesat
Lightspeed a reality and delivering unparalleled high capacity,
secure, resilient and affordable broadband connectivity everywhere
in the world."
"As a global leader in the new space economy, Canada is proud to see two domestic champions
join forces on this flagship Canadian program to create
high-skilled jobs and support cutting-edge innovation in the
telecom industry, helping unlock economic and social opportunities
in Canada's rural and remote
communities," said the Honourable François-Philippe Champagne, Minister of Innovation,
Science and Industry. "Canada
remains a strong supporter of Telesat Lightspeed and will continue
to help solve some of the most pressing challenges we face here on
Earth, from bridging the digital divide, to health, climate change,
national security, and more."
To support increasing customer demand as the industry
transitions from analog to digital satellite technologies, MDA is
bringing to market a new software-defined digital satellite product
line, providing critical new solutions to satellite operators and
prime manufacturers. The fully integrated portfolio includes a
complete range of modular digital products and components for
space-based communication solutions coupled with advanced
high-volume manufacturing capable of producing two satellites a
day, dramatically reducing production costs and schedule. MDA will
introduce its new software-defined digital satellite product line
during World Satellite Business Week in September.
The Telesat Lightspeed contract will be added to MDA's backlog
in the third quarter of fiscal 2023.
Conference Call and Webcast on
August 11, 2023
As a reminder, MDA will be releasing its Q2 2023 financial
results on August 11, 2023 before
market open. MDA's management team looks forward to discussing
these results as well as the Telesat Lightspeed contract award on
its conference call and webcast starting at 11:00 am ET on
Friday, August 11, 2023. Details to
access the conference call and webcast can be found on MDA's
Investor Relations website.
ABOUT MDA
Serving the world from its Canadian home and global offices, MDA
(TSX:MDA) is an international space mission partner and a robotics,
satellite systems and geointelligence pioneer with a 50-year story
of firsts on and above the Earth. With over 2,800 employees across
Canada, the US and the UK, MDA is
leading the charge towards viable Moon colonies, enhanced Earth
observation, communication in a hyper-connected world, and more.
With a track record of making space ambitions come true, MDA
enables highly skilled people to continually push boundaries,
tackle big challenges, and imagine solutions that inspire and
endure to change the world for the better, on the ground and in the
stars. Learn more by visiting mda.space.
FORWARD-LOOKING
STATEMENTS
This press release contains forward–looking information within
the meaning of applicable securities legislation, which reflects
the Company's current expectations regarding future events.
Forward–looking information is based on a number of assumptions and
is subject to a number of risks and uncertainties, many of which
are beyond the Company's control, which could cause actual results
and events to differ materially from those that are disclosed in or
implied by such forward–looking information. Such risks and
uncertainties include, but are not limited to, the factors
discussed under "Risk Factors" in MDA's Annual Information Form
available on SEDAR at www.sedar.com. MDA does not undertake
any obligation to update such forward–looking information, whether
as a result of new information, future events or otherwise, except
as expressly required by applicable law.
SOCIAL MEDIA
Twitter:
twitter.com/MDA_space
Facebook: facebook.com/MDAspace
LinkedIn:
linkedin.com/company/mdaspace
YouTube: youtube.com/c/mdaspace
Instagram: instagram.com/MDA_space
View original content to download
multimedia:https://www.prnewswire.com/news-releases/mda-selected-as-prime-satellite-contractor-for-telesat-lightspeed-advanced-constellation-301898423.html
SOURCE MDA Ltd.