From: GomSpace A/S
Posted: Tuesday, February 28, 2017
GomSpace ApS (”GomSpace”) a subsidiary of GS Sweden AB (publ) ("the Company”) has been selected by and has entered into a procurement contract with the UK company Sky and Space Global (UK) Ltd. to develop and deliver a constellation of satellites within a 4 year period. The first delivery of satellites will be in 2018. The revenue will be distributed over the term of the agreement. The total value of this order is depending on several options including development, services and choice of satellites and will therefore range between approximately EUR 35.0 and 55.0 million.
“GomSpace is extremely excited to be part of this ground-breaking project from Sky and Space Global (UK) Ltd. With this project, we believe that Sky and Space Global, seconded by GomSpace, is on the verge of a breakthrough for nanosatellites in the professional low-earth orbit satellite business,” says Niels Buus, CEO of GomSpace.
“We are getting very close to the launch of our first 3 Diamonds mission, to which GomSpace is already a key supplier, and our goal is to build a communication network based on a constellation of nanosatellites. This contract with GomSpace is another step towards a commercial, revenue generating service. We are very happy to continue working with GomSpace which have proven their value and capabilities,” says Meir Moalem, CEO of Sky and Space Global Ltd.
For more information, please contact:
Niels Buus (CEO)
Tel: +45 40 31 55 57
Email: nbu @ gomspace.com
About GS Sweden AB
The Company’s business operations are mainly conducted through the wholly-owned Danish subsidiary, GomSpace ApS, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The Company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB is the Company’s Certified Adviser. For more information, please visit our website on www.gomspace.com.
About Sky and Space Global
Sky and Space Global (UK) Ltd. is a UK incorporated company listed on the Australian Securities Exchange (ASX: SAS) with European and Israeli centres of Aerospace, Satellite and Software Industry Experts. Sky and Space Global is engaged in global narrowband communication design for providing global communication infrastructure based on nanosatellite technology and in developing software systems that will deploy, maintain orbit control and handle communication code between each of the nanosatellites to provide global coverage once a sufficient global network of nano-satellites is deployed. www.skyandspace.global.
The Sky and Space Global business strategy is nanosatellite communication coverage on an ANYWHERE to EVERYWHERE basis with relatively low maintenance costs. Due to the experience and expertise of the founders in the aerospace industry, the business will be able to develop and upgrade capabilities within short intervals, utilizing unique IP-nanosat network software protocols.
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