Redwire Corporation (NYSE:RDW) shares dipped first thing Tuesday. The company, a leader in space infrastructure for the next generation space economy, announced today that it has been awarded a study contract by the European Space Agency (ESA) to conceptualize a spacecraft platform that could be delivered to Mars as a part of ESA LightShip initiative.

Redwire's wholly-owned Belgian subsidiary, Redwire Space NV, has been awarded one of four independent parallel industry studies to define the parameters for this interplanetary spacecraft. The consortium seeks to evaluate viable smallsat platform solutions for future missions to Mars, which shall be carried as passengers on-board LightShip -an electric propulsive tug that can carry passenger spacecraft to the Red Planet and also offers navigation and comms services.

Redwire's solution is built around an adapted version of its highly versatile small satellite platform, Hammerhead, and its proven avionics capabilities, which launched most recently on ESA's Hera mission.

"We are very happy that ESA has trusted us again to lead a consortium. This project will help us unlock new possibilities for small, cost-effective Mars platforms, pushing the boundaries of smallsat innovation while maintaining a clear focus on advancing humanity's presence beyond Earth. Together, we are setting the stage for the next generation of space exploration," said Erik Masure, President of Redwire Space Europe.

RDW shares began Tuesday lower by 56 cents, or 4.6%, to $11.72.

COMTEX_463315436/2559/2025-03-04T10:12:47