It’s mission-critical that financial traders check out Sidus Space (NASDAQ:SIDU) today. This morning, SIDU stock has plenty of jet fuel. Specifically, a space organization in the Netherlands just selected Sidus Space for a big-money deal.
Hailing from Florida, Sidus operates a vast, 35,000-square-foot facility where the company designs and builds commercial satellites. Sidus describes itself as a “Space-As-a-Service” company and offers a range of space-focused services.
So, here’s today’s big news for the company. The Netherlands Organization for Applied Scientific Research (TNO) just selected Sidus Space to “deploy and test TNO’s laser communications technology” aboard one of Sidus’ LizzieSat satellites.
Don’t assume that Sidus will be doing all of the work, though. Reportedly, TNO will “design and deliver HemiCAT, a high-efficiency miniature communications laser terminal.” Then, Sidus Space will integrate HemiCAT into LizzieSat, Sidus’ “hybrid 3D printed satellite.”
Will this be a mission accomplished for Sidus and its stakeholders? Let’s see how the investing community feels about the arrangement between the company and TNO.
What’s Happening With SIDU Stock?
SIDU stock is taking a rocket ride this morning after the TNO deal announcement, zooming up more than 20% as of this writing. Clearly, investors are happy that Sidus Space is assisting TNO with its new laser communications technology. Granted, Sidus has a lot of work to do now. The company will “manage all aspects of integration, deployment, and operations, including procuring a launch and operating HemiCAT in orbit.”
Sidus Space will also be handsomely rewarded for its efforts, however. Specifically, Sidus’ agreement with TNO is valued at $2.5 million.
Furthermore, Sidus founder and CEO Carol Craig believes the TNO partnership will allow Sidus to “demonstrate further versatility” of the LizzieSat platform. So, it sounds like a win-win scenario for all parties involved, including holders of SIDU stock today.
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On the date of publication, David Moadel did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.