NewSat Limited (ASX: NWT; OTC: NWTLY), Australia’s satellite company, announced today that as the next stage in the Jabiru satellite project, it has entered into a contract with Lockheed Martin Commercial Space Systems for the construction of the Jabiru-1 satellite.
Jabiru-1 will incorporate an advanced Ka-band payload which will provide high-powered satellite coverage across growth regions over the Middle East, Africa and Asia. The large Jabiru-1 spacecraft will use Lockheed Martin’s proven A2100 series spacecraft and is designed for an in-orbit life of 15 years.
Jabiru-1 will provide greater than 7 GHz of Ka-band capacity and features significant options in allocating the capacity among a combination of high-powered beams. The agreement with Lockheed Martin gives considerable flexibility with respect to the capacity of the satellite, which can be adjusted to meet NewSat’s final requirements. The financial terms of the agreement are confidential and cannot be released at this date.
The construction of the Jabiru-1 satellite will commence immediately and is scheduled for launch in the second half of 2014. Jabiru-1 will provide high-bandwidth communication services to government and enterprise markets including mining, oil, gas, media and carrier-grade telecommunications, across countries such as Afghanistan, Iraq, Pakistan, Saudi Arabia, Somalia and India. NewSat is being advised on the Jabiru-1 project by ArgoSat Advisors.
In commenting on the satellite manufacturer contract with Lockheed Martin Commercial Space Systems, Adrian Ballintine, NewSat Founder and CEO said: “Lockheed Martin is a world leader in defense and commercial space manufacturing. NewSat is delighted to award the contract to a trusted and important global player, who will support the deployment of Australia’s first independently owned commercial satellite.”
“NewSat has made an initial payment and will continue to make the required milestone payments under the contract. In anticipation of the condition in the Lockheed Martin contract that financing be completed by the end of the fiscal year 2012, we lodged our applications earlier this year with export credit agencies U.S. Ex-Im Bank and Coface. Lockheed Martin actively supported our application when lodged and will continue to work with us in our activities with the U.S. Ex-Im Bank till conclusion.” “The signing of this contract, and the immediate start to construction of Jabiru-1, is another major milestone and follows the recently announced cornerstone customer contracts totaling US$279 million. With the satellite manufacturer secured and significant customer contracts signed, NewSat is moving closer to launching Jabiru-1 and the realisation of our strategy to become a global satellite operator. Jabiru-1 is the first of our fleet of next generation Ka-band satellites which will lead Australia’s space quest.”
In commenting on the satellite manufacturing contract with NewSat, Joseph Rickers, Lockheed Martin Commercial Space Systems President said: “Lockheed Martin is excited to join NewSat on the Jabiru-1 project, Australia’s first independently owned commercial satellite. NewSat is a highly acclaimed Teleport operator, providing mission critical satellite communications to governments around the world, remote mine sites and underprivileged communities. We look forward to bringing the extensive resources of Lockheed Martin to ensure success for the Jabiru-1 project. Lockheed Martin’s flexible and powerful A2100 satellite architecture is ideally suited for the Jabiru-1 mission, helping NewSat achieve their business objectives as a satellite operator.”
