Maxar Technologies (NYSE:MAXR) has been selected by NASA for the first part of a renewed lunar program.

Shares have spiked 20.5% in response.

NASA Administrator Jim Bridenstine revealed the selection as part of remarks about the Artemis Moon program at the Florida Institute of Technology.

Maxar will work on the first segment (the power and propulsion element) of NASA’s Gateway outpost.

That station will be the lunar orbiting staging point to send astronauts back to the moon’s surface in five years — and, Bridenstine says, to pave the way toward future Mars missions.


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