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Aerojet Rocketdyne Receives Contract for up to Two More MMRTGs for Future Deep Space Exploration Missions

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Rhea-AI Summary

Aerojet Rocketdyne has been awarded a contract to supply up to two Multi-Mission Radioisotope Thermoelectric Generators (MMRTGs) to the U.S. Department of Energy for future planetary science missions. The MMRTGs are crucial for deep space exploration, providing reliable power in environments where solar energy is ineffective. The units will support various missions, including powering NASA’s Dragonfly mission to Titan and potentially the Trident mission to Triton. This contract enhances Aerojet Rocketdyne's capabilities in the aerospace sector, contributing to its portfolio in space exploration.

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Positive

  • Awarded contract for up to two MMRTGs, strengthening revenue prospects.
  • MMRTGs are proven reliable power sources for deep space missions.
  • Potential to support significant NASA missions, enhancing company visibility and partnerships.

Negative

  • None.

News Market Reaction – AJRD

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In the trading session that priced this news, AJRD gained 0.21%, reflecting a mild positive market reaction.

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LOS ANGELES, Feb. 12, 2021 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne recently received a contract award to deliver up to two Multi-Mission Radioisotope Thermoelectric Generators (MMRTG) to the U.S. Department of Energy (DOE) for use in future planetary science missions. MMRTGs are radioisotope power systems that have been used as reliable electrical power sources on multiple deep space missions, including NASA’s Perseverance Rover, which will land on Mars on Feb. 18.

Both MMRTGs will be fabricated and tested by Aerojet Rocketdyne and its teammate Teledyne Energy Systems prior to delivery to DOE’s Idaho National Laboratory, where the units will be fueled and readied for launch based on mission timelines.

“While the specific missions each unit will support have not yet been determined, the MMRTG is well suited for a variety of environments,” said Aerojet Rocketdyne CEO and President Eileen P. Drake. “The MMRTG is multi-mission capable, meaning that it can operate on the surface of planets and moons in a planetary atmosphere or in the vacuum of space.”

The MMRTG produces dependable electrical power by converting the heat from plutonium 238 radioactive decay into electricity. A single unit can provide reliable, long-lasting electrical power to a spacecraft or planetary rover, enabling exploration of the deepest corners of the solar system, where the great distance from the Sun dramatically reduces the effectiveness of solar arrays.

The MMRTG will power NASA’s Dragonfly mission to explore Saturn’s moon Titan, and is being considered for the Trident mission to explore Neptune’s largest moon Triton, which is believed to have a liquid ocean.

About Aerojet Rocketdyne: Aerojet Rocketdyne, a subsidiary of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD), is a world-recognized aerospace and defense leader that provides propulsion systems and energetics to the space, missile defense and strategic systems, and tactical systems areas, in support of domestic and international customers. For more information, visit www.Rocket.com and www.AerojetRocketdyne.com. Follow Aerojet Rocketdyne and CEO Eileen Drake on Twitter at @AerojetRdyne and @DrakeEileen.

Media Contacts:
Ashley Riser, Aerojet Rocketdyne, 571-236-4091
Ashley.Riser@rocket.com 
Mary Engola, Aerojet Rocketdyne, 571-289-1371
Mary.Engola@rocket.com 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/60835f44-0f47-4af3-bf9b-ad9e18512caa


FAQ

What is the contract awarded to Aerojet Rocketdyne regarding MMRTGs?

Aerojet Rocketdyne received a contract to deliver up to two Multi-Mission Radioisotope Thermoelectric Generators (MMRTGs) to the U.S. Department of Energy for future missions.

How do MMRTGs benefit space missions?

MMRTGs provide reliable electrical power in environments where solar arrays are less effective, enabling exploration in deep space.

What missions will the MMRTGs support?

The MMRTGs will power NASA’s Dragonfly mission to Titan and may also be considered for the Trident mission to Triton.

What is the significance of the MMRTG award for Aerojet Rocketdyne's stock (AJRD)?

The contract enhances Aerojet Rocketdyne's revenue prospects and strengthens its position in the aerospace industry.