JACKSONVILLE, Fla.,
Nov. 2, 2021 /PRNewswire/
-- Redwire Corporation (NYSE: RDW), a leader in space
infrastructure for the next generation space economy, today
announced that it has acquired Techshot, Inc., a leader in
biotechnology in microgravity, bioprinting, and on-orbit
manufacturing needed for commercial space-based research and
development.
"Techshot's space bioprinting and other proven biotech solutions
in microgravity are some of the most consequential innovations in
Low Earth Orbit (LEO) with
life-saving benefits on and off our home planet," said Peter Cannito, Chairman and CEO of Redwire.
"Adding Techshot's leading position in commercial space
biotechnology with Redwire's leading position in on-orbit material
manufacturing adds significant scale and synergy to our commercial
space offerings. This is a giant leap forward in our vision
for people living and working in space for the benefit of the
terrestrial economy."
This acquisition aligns with Redwire's growth strategy to
leverage strategic investments to scale in-space manufacturing in
LEO which will directly impact the
sustainability of future human spaceflight and deliver optimized
products for Earth-based industries. The acquisition of Techshot is
value accretive and will provide a complementary suite of products
to further advance Redwire's disruptive innovation.
"As part of Redwire, we now have more of the resources we need
to help accelerate the development of our growing portfolio of new
space biomedical technologies, while we continue to provide great
service to our research and deep space exploration customers," said
Techshot President and Co-founder John
Vellinger. "We're excited to be part of a leading company in
the commercialization – and indeed, the industrialization – of low
Earth orbit, and beyond."
Since 1988, Techshot has been at the forefront of biological and
physical-science research in space. It has developed more than a
dozen payloads – four of which currently are operating on the
International Space Station. The company's key products include the
3D BioFabrication Facility: the first American system capable of
manufacturing human tissue in microgravity; the Multi-use
Variable-gravity Platform: containing a set of centrifuges for
in-space biological and physical-science research; the Advanced
Space Experiment Processor: a multipurpose device for biological
research and small scale manufacturing in space; and the Bone
Densitometer: an in-orbit X-ray machine chiefly used by Techshot
customers for researching new treatments for osteoporosis and
muscle wasting diseases.
Techshot's development pipeline includes a new payload for 3D
printing metal and electronic components, and devices for
manufacturing pharmaceuticals and large quantities of human cells
for bioprinting and cell therapies. Beyond operating its own
devices, Techshot also manages research in NASA's space station
furnaces and the Advanced Plant Habitat.
Techshot's customers include, Eli Lilly and Company,
AstraZeneca, UCLA, MIT, and the Geneva Foundation among other
government and commercial entities. Based in Floyd County, Indiana, Techshot's 22,000
square foot facility, located near world-class aeronautical and
biomedical engineering university programs, will expand Redwire's
technology ecosystem with additional engineering labs and payload
operations control center.
Following its NYSE debut in September, Redwire recently
announced plans to partner with Blue Origin, Sierra Space, Boeing and teammates to develop a
commercial space station that will be outfitted with the company's
advanced manufacturing capabilities and focused on delivering
important Earth benefits—now including bioprinting human tissue and
organs for therapeutical applications. Redwire has continued
its strong growth trajectory through strategic acquisitions as the
company now owns over 25 commercially developed facilities that
have flown, are in development or currently operating on the
International Space Station.
About Redwire
Redwire Corporation (NYSE: RDW) is a leader in space
infrastructure for the next generation space economy, with valuable
IP for solar power generation and in-space 3D printing and
manufacturing. With decades of flight heritage combined with the
agile and innovative culture of a commercial space platform,
Redwire is uniquely positioned to assist its customers in solving
the complex challenges of future space missions. For more
information, please visit www.redwirespace.com.
Safe Harbor Statement
This press release contains forward-looking statements that may
state Redwire's or its management's intentions, beliefs,
expectations or predictions for the future. Forward-looking
statements are based on our current expectations and beliefs
concerning future developments and their potential effects on us
and are not guarantees of future performance, conditions or
results. Such forward-looking statements are subject to certain
risks, uncertainties and assumptions, and typically can be
identified by the use of words such as "expect," "anticipate,"
"should," "believe," "hope," "target," "continued," "project,"
"plan," "goals," "opportunity," "appeal," "estimate," "potential,"
"predict," "may," "will," "might," "could," "intend," "shall,"
"possible," "would," "approximately," "likely," "schedule," and
variations of these terms or the negative of these terms and
similar expressions, but the absence of these words does not mean
that a statement is not forward-looking. Although Redwire believes
that its expectations are reasonable, it can give no assurance that
these expectations will prove to have been correct, and actual
results may vary materially if underlying assumptions to
forward-looking statements prove inaccurate, or if known or unknown
risks or uncertainties materialize. Factors that could cause actual
results to differ materially from those contemplated above include,
among others, risks and uncertainties related to: (1) the
integration of Techshot with Redwire, including the ability to
retain customers, suppliers and key employees, (2) our limited
operating history, (3) the successful development and continued
refinement of many of our proprietary technologies, products, and
service offerings, which are subject to many uncertainties beyond
our control, (4) competition from other companies, (5) our ability
to maintain or increase profitability or positive cash flow, (6)
adverse publicity to the space sector, (7) unsatisfactory
performance of our products and services, (8) undetected defects in
our products that may increase our costs, harm our reputation with
customers or lead to costly litigation, (9) the growth potential
and the market for in-space infrastructure services, (10) our
ability to execute our business strategy, (11) any material changes
in the proportion of cost-plus-fee or fixed-price contracts in our
total contract mix and (12) the useful lives of our systems,
products, technologies and services. Additional information
concerning these, and other factors can be found in Redwire's
filings with the Securities and Exchange Commission, including
other risks, relevant factors and uncertainties identified in the
"Risk Factors" section of Redwire's Prospectus filed pursuant to
Rule 424(b)(3) on October 4, 2021.
Any forward-looking information presented herein is made only as of
the date of this press release, and Redwire does not undertake any
obligation to update or revise any forward-looking information to
reflect changes in assumptions, the receipt of new information, the
occurrence of unanticipated events, or otherwise. Persons reading
this press release are cautioned not to place undue reliance on
forward looking statements.
Media Contact:
Tere Riley
Tere.Riley@redwirespace.com
321-831-0134
OR
Investors:
investorrelations@redwirespace.com
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SOURCE Redwire