- MDA Space (TSX/NYSE:MDA) unveiled LaunchPad Ventures, a new program to invest in and develop small and medium-sized Canadian space and defense technology companies.
- MDA Space serves the global space and defense industries in the areas of robotics, geointelligence and satellite systems.
- MDA Space stock last traded at C$41.08, giving back 9.69 per cent year-over-year, while adding 160.83 per cent since 2021.
MDA Space (TSX/NYSE:MDA) unveiled LaunchPad Ventures, a new program to invest in and develop small and medium-sized Canadian space and defense technology companies.
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The program is designed to enhance Canada’s national security and standing on the global stage, with a specific focus on scaling “solutions that equip, sustain and modernize the Canadian Armed Forces and Allied Forces,” according to Thursday’s news release.
The program will cater to 25 areas for investment strategically chosen based on Canada’s sovereign priorities, from autonomous systems, to analytics for maritime awareness, to space-based electronic warfare payloads.
Participants will gain access to MDA Space’s established space and defense industry networks and capabilities, spanning more than 55 years and more than 450 missions, as they vie to shape the future of their target markets.
Leadership commentary
“Canadian industry has the business ambition, innovation mindset and technology talent to develop and commercialize next-generation space and defense products and solutions,” Mike Greenley, Chief Executive Officer of MDA Space, said in a statement. “With MDA Space LaunchPad Ventures we are looking to unlock, accelerate and strengthen the country’s space and defense industrial base, reinforce sovereign capabilities and ensure that the next generation of mission-critical and export-ready technology is built here at home.”
About MDA Space
MDA Space serves the global space and defense industries in the areas of robotics, geointelligence and satellite systems.
MDA Space stock (TSX/NYSE:MDA) last traded at C$41.08, giving back 9.69 per cent year-over-year, while adding 160.83 per cent since 2021.
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