ÅAC Microtec wins order from EutelsatAAC Clyde Space, Europe's leading New Space mission specialists, has won an order from leading satellite operator Eutelsat to deliver and launch two Internet of Things (IoT) 6U CubeSats. The spacecrafts will be designed, manufactured, and made fit for launch at AAC Clyde Space in Glasgow. The payload, built around a sophisticated Software Defined Radio, will be developed in-house. The spacecrafts will host the first propulsion system onboard an AAC Clyde Space satellite.
The satellites are scheduled for launch into a low Earth Orbit (LEO) during first quarter of 2021 and will together with two other spacecraft, start to deliver the mission's first commercial services. The contract value amounts to EUR 2 M (approx. 21,4 MSEK) up to potentially EUR 5 M (approx. 53,5 MSEK) depending on chosen options and services. If proven successful, Eutelsat plans to expand the mission into a full commercial constellation of 25 satellites dedicated to IoT services by 2022. The constellation will offer global coverage for IoT, enabling objects to transmit data whatever their location.
Luis Gomes, CEO AAC Clyde Space commented: "At a time IoT is driving growth in the satellite industry, we have merged our highly miniaturized satellite platforms with a powerful IoT payload, to create a unique product that can be manufactured in large numbers and at low cost, while offering excellent performance. Being awarded this contract shows the trust a major operator has in AAC Clyde Space's technology and manufacturing capability to supply complex, operational satellites for the constellations of the future. We are honored for being chosen by Eutelsat and look forward to deliver these satellites and to support Eutelsat in their future IoT constellation plans."
Eutelsat Communications is one of the world's leading satellite operators with a global fleet of satellites and ground-based facility. The French group delivers over 7,000 channels, operated by the largest television groups, to an audience of one billion television viewers equipped for satellite reception or connected to terrestrial networks. 2019-09-24 FOR MORE INFORMATION:
Please visit: www.aac-clyde.space or contact:
CEO Luis Gomes [email protected]
Chairman of the Board Rolf Hallencreutz, [email protected]
The information in this press release is such that ÅAC Microtec AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 09:00 CET on 24 September 2019.
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AAC Microtec Pressrelease 2019-09-24.pdf ABOUT AAC CLYDE SPACE
The group AAC Clyde Space offers turnkey solutions and services from mission design to on-orbit operations, including reliable customizable satellite platforms in the range of 1 to 50 Kg and a full range of subsystems for cube and small satellites. With unrivalled flight heritage and end-to-end service, AAC Clyde Space enables customers to reach their mission goals through a single, trusted point of contact.
ÅAC Microtec's shares are traded on Nasdaq First North Premier Growth Market. Erik Penser Bank AB, e-mail [email protected], telephone +46 8 463 83 00, is the Certified Adviser.
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