ASX-listed Sky and Space Global has taken another step towards the launch of its disruptive “nano-satellite” communications network, with construction of its three demonstration nano-satellites running ahead of schedule.
The Perth-based company said on Monday that the physical build its first three miniature satellites had commenced at leading nano-satellite contractor Gomspace’s facility in Denmark.
Sky and Space Global said construction, which was ahead of schedule, on the three nano-satellites was slated for completion by the end of December to allow for testing ahead of the planned and fully funded launch in the second quarter of 2017.
The launch will take place on the Polar Satellite Launch Vehicle from India’s space agency ISRO, which recently successfully launched into orbit carrying satellites, including nano-satellites, from three different countries, causing SAS’s share price to jump 44% in a single day in the process.
Sky and Space Global chief executive Meir Moalem said: “The physical assembly of our 3 Diamonds nano-satellites has commenced at our construction partner, GomSpace ahead of schedule. With our launch date scheduled for Q2 2017, we have made significant progress towards launch and look forward to the full assembly of our nano-satellites before the end of 2016.”
Today’s update from the Perth-headquartered company, which has its aerospace operations in Europe, comes as the company rapidly progresses implementation of its affordable nano-satellite based global telecommunications network.
The UK-registered company with Israeli executives has an ambitious plan to move into the global satellite comms industry with their nano-satellites, which are cheaper, smaller and simpler to launch than conventional orbital devices.
Sky and Space Global sees big potential for its wholesale, narrowband, low-cost voice, text and data network in remote areas and for industries such as shipping and aviation, which are currently poorly serviced by the cellular players.
