ÅAC Microtec wins 5 MSEK launch order from KP LabsÅAC Microtec AB's subsidiary, Clyde Space, has been selected by Polish KP Labs to provide launch for the mission Intuition-1. The order value is 0.4 MGBP (approx. 5 MSEK). Earlier in March, KP Labs selected AAC Clyde Space to design and manufacture a satellite platform for its mission, an order of 0,5 MGBP (approx. 6,1 MSEK). In this order KP Labs extends the collaboration to also include arranging the launch and in orbit commissioning of the satellite as well as the early operations phase of he mission. Launch is currently scheduled for the fourth quarter 2022.
"The process of selecting a platform and a launch supplier has been quite complex. We analyzed a lot of parameters and at the end of the day, AAC Clyde Space offered us everything we needed in both areas, meeting high requirements for power, precision, volume and providing us a wide variety of launch options, which is crucial for our mission. We received a very well-tailored proposal, which describes not only what we get, but most of all - why we get it," says Grzegorz ada, Project Manager of the Intuition-1 programme.
The mission aims to demonstrate an advanced hyperspectral imager and novel on-board processor developed by KP Labs. The 6U satellite holds the potential to become the first with processing capability to segment hyperspectral images in orbit, using neural network techniques.
"We are thrilled to receive this second order from KP Labs, expanding our contribution to their exciting first mission through the provision of launch services," says Craig Clark MBE, Clyde Space Founder and CSO.
Traditionally used in the mining industry, hyperspectral imaging is increasingly being used in a variety of applications. KP Labs envisage future use for its technology in applications ranging from agriculture, forestry and mining, to environmental protection and defense.
KP Labs is part of the Polish FP Space consortium aiming to develop machine learning and big data applications for use in space. The software development company Future Processing and the electronics company FP Instruments are part of the consortium alongside KP Labs. 2019-03-18 FOR MORE INFORMATION:
Please visit: www.aacmicrotec.com and www.clyde.space or contact:
Acting CEO Mats Thideman, [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 08:50 CET on 18 March, 2019.
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AAC Microtec Pressrelease 2019-03-18.pdf ABOUT ÅAC MICROTEC AB
ÅAC Microtec and its subsidiary Clyde Space offer a full turnkey mission service from design to on-orbit operations including reliable platforms in the range of 1 to 50 Kg; customizable to suit our customers' requirements. Our end-to-end service package enables our customers to reach their mission goals with a single, trusted point of contact. In addition, we supply a full range of subsystems for cube satellites and small satellites.
ÅAC Microtec's shares are traded on Nasdaq First North Stockholm. G&W Fondkommission, e-mail [email protected], phone +46 8 503 000 50, is the Certified Adviser.
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