GomSpace, a globally leading manufacturer and supplier of cubesat & small satellite solutions for customers in the academic, government and commercial markets announced new agreement with a mission to deploy a constellation of small satellites that will enable surveillance and communication services to be provided, especially in remote areas and oceanic regions that are not currently covered by air navigation systems based on terrestrial infrastructures.
GomSpace will reuse the work performed for the previously suspended program to support Startical to perform the European ECHOES demonstration project and settle disputes.
Highlights
· The value of the agreement ranges from 4.1 to 4.6 million EUR (approx. 46 to 52 MSEK).
· GomSpace participation in The ECHOES demonstration will start today, and the satellite will be launched in 2025.
· The Settlement will have a positive financial impact of 1.5 million EUR (approx. 16 MSEK) in the fourth quarter of 2023.
Deputy CEO and CFO Troels Dalsgaard comments: “This agreement allows our highly skilled team to resume the suspended project and demonstrates our strong technical capabilities. Furthermore, this will allow our state-of-the-art platform to support Startical’s next step of becoming the leading company in space-based Air Traffic Management.”
The customer Startical is a company incorporated in Spain and with the mission to become a global provider of space-based air traffic management technology by providing surveillance, voice and data communication services in remote and oceanic spaces. The company was created as a joint venture between Indra and ENAIRE. The specific project aims to demonstrate the connectivity capabilities between the air traffic controller and the aircraft in flight through a relay satellite in orbit.
GomSpace was formed in 2007 and the company today is listed company at the Nasdaq stock exchange in Stockholm (GOMX). We have our global headquarters in Aalborg in Denmark, a propulsion technology center in Uppsala in Sweden, our constellation operations center in Luxembourg and sales & project development offices in France and North America