05:13 PM EDT, 09/17/2024 (MT Newswires) -- Intuitive Machines ( LUNR ) said late Tuesday the National Aeronautics and Space Administration has awarded the firm a Near Space Network contract for communication and navigation services for missions in the near space region, which extends from Earth's surface to beyond the Moon.

The contract has a base period of five years with an additional five-year option period, with a maximum potential value of $4.82 billion, the company said.

Intuitive Machines ( LUNR ) said it will deploy lunar relay satellites and provide communication and navigation services that play an essential role in NASA's Artemis campaign to establish a long-term presence on the Moon as part of the contract.

Shares of the company soared about 39% in after-hours activity.

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