MDA Space Ltd. secured a C$474 million contract expansion from Telesat.
The company will build 27 additional satellites for the Telesat Lightspeed low Earth orbit constellation. This order increases the total number of satellites MDA is manufacturing for the project to 225.
MDA shares rose significantly following the announcement.
The expansion stems from a partnership between MDA, Telesat, and Canada's Department of National Defence to provide secure connectivity across the Canadian Arctic. New MDA AURORA satellites will feature military Ka-band spectrum for the Canadian Armed Forces alongside commercial broadband services.
MDA will manufacture the units at its Montreal facility. The company will add the contract value to its backlog in the third quarter of 2026.