Satellite maker Terran Orbital Corp. (NYSE: LLAP) said it signed a memorandum of understanding with South Korea’s Hanwha Systems for a strategic partnership for the two companies to work together on satellite manufacturing, including solar cells.
They will also collaborate on advancing next-generation satellites and promised to share resources, knowledge and best practices, according to a statement today.
Shares in Terran Orbital closed up 3.3% to 75 cents apiece for a market cap of $151 million.
Terran has most of its operations in Irvine, and is headquartered in Boca Raton, Fla.
