MDA Space backs Canada's plan to redirect Canadarm3 to lunar work

MDA Space Ltd. (NYSE: MDA) issued a statement supporting the Canadian Space Agency's announcement that it intends to repurpose Canadarm3 investments to support lunar exploration as part of the Artemis program.

Mike Greenley, CEO of MDA Space, said the company is "fully committed to working with the Canadian Space Agency to get Canada on the Moon" and that MDA Space is positioned to provide surface logistics for a sustained human presence there. The statement followed what the press release described as the completion of the Artemis II crewed mission around the Moon.

The Canadarm3 project is designed to build on capabilities developed through earlier Canadian robotic systems, including the original Canadarm, which flew on 90 Space Shuttle flights beginning in 1981, and Canadarm2, which has operated on the International Space Station for 25 years.

MDA Space did not disclose financial terms or contract details related to its expected role in the lunar program.

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