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Closing Bell

Manifest Space: Drones in Space’s Next “Golden Age” with Redwire CEO Peter Cannito 1/23/25

Closing Bell

CNBC

Business, News

4.8118 Ratings

🗓️ 23 January 2025

⏱️ 24 minutes

🧾️ Download transcript

Summary

Redwire is expanding into the defense market with its acquisition of aerial drone maker Edge Autonomy. Redwire previously won a Pentagon contract to build what is essentially an orbital drone...and that inspired a strategy to create a one-stop shop for "platform coverage" from the surface of the earth to the surface of the moon and beyond. Redwire CEO Peter Cannito joins Morgan Brennan to discuss the big bet on drones and what he expects from this next “Golden Age” of space.

Transcript

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0:00.0

Redwire is expanding its reach in the defense market.

0:05.0

News that sent the stock skyrocketing 50%.

0:09.0

The space infrastructure company, which bioprints organs in orbit and supplies parts to satellites,

0:14.0

announcing it will acquire aerial drone maker, Edge Autonomy, for $925 million.

0:20.0

Redwire CEO Pete Canito says national security work is already the

0:24.8

fastest growing business, but edge autonomy takes the company past the edge of space, or really

0:30.9

back down to Earth. This is Red Wire leaning into that idea of being a multi-domain company of both space and autonomous

0:41.6

airborne platforms. And if you think about what we did with our last acquisition of Hara, where we

0:48.7

brought in these additional autonomous space-based platform, now we're adding the autonomous aerial platforms,

0:57.1

and the goal would be longer term for us to build systems of systems where these autonomous

1:04.7

spacecraft collaborate with autonomous airborne platforms in order to realize that vision of an all-domain warfighting concept.

1:14.6

Redwire won a Pentagon contract last year to build what is essentially an orbital drone.

1:20.6

And that inspired a strategy to create a one-stop shop for platform coverage,

1:24.6

ranging from the surface of the Earth to the surface of the moon and beyond.

1:28.9

At a time when space talks have been soaring and startups like Voyager technologies may now go public,

1:34.4

I also ask Conito what navigating Wall Street has entailed.

1:38.8

Well, so Elon Musk kind of helps us out with that.

1:45.4

Obviously, he's very visible in the community.

1:49.0

And so I think there's a lot of people in space right now.

1:52.2

And that public knowledge is certainly a tailwind for Redwire

1:57.2

because I think the public wit large is more aware of what's going on in space than

2:04.1

ever before. But yeah, I mean, it's a, I think it's just a consistently going out there

...

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