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 four 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 that include the development, services and choice of satellites and will, therefore, range between approximately 35 and 55 million euros.
Niels Buus, the CEO of GomSpace, stated that his company is excited to be part of this ground-breaking project from Sky and Space Global (UK) Ltd. With this project, he believes that Sky and Space Global, seconded by GomSpace, is on the verge of a breakthrough for nanosatellites in the professional LEO satellite business.
According to Meir Moalem, the CEO of Sky and Space Global Ltd., his company is getting very close to the launch of their first 3 Diamonds mission, to which GomSpace is already a key supplier—the company's 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.