AAC Clyde Space advances xSPANCION into its final phase 3B
AAC CLYDE SPACE ADVANCES XSPANCION INTO ITS FINAL PHASE 3B
2023-07-26 AAC Clyde Space AB (publ)
AAC Clyde Space and its partners, have agreed to move into the phase 3B of the xSPANCION project, in which the project will be completed with the manufacturing of 10 novel spacecraft of which four will be launched within the project's framework. The UK Space Agency, through the ESA Pioneer Partnership Projects, will co-fund the Group's investments in the project with EUR 4.5 M (approx. SEK 51.7 M).
The xSPANCION project aims to develop an innovative satellite constellation service and is expected to be operational in Q4 2024. The decision to move into phase 3B was taken while completing the phase 3A with satellite platform qualification, scaling production capacity with increased automation and the development of cloud-based software for delivery of data services to users. The first four Earth observation satellites will become part of AAC Clyde Space's Space Data as a Service (SDaaS) constellation, whereas the six following satellites will be offered for client payloads.
"Good quality and timely data are key aspects of our SDaaS offering and we are delighted to see the xSPANCION project move into its final stretch. These satellites will offer customers new data sets, in a timely manner, opening a variety of opportunities to collect information that will improve life on Earth", says AAC Clyde Space CEO Luis Gomes.
Through Space Data as a Service agreements customers can access space-based data more quickly and cheaply, without the need to own and operate space assets. Customer agreements can take three different forms; pay-per-access, non-exclusive access by annual subscription, or exclusive access under a capacity subscription. Since the Group aims for a flexible and dynamic constellation, it has, together with its partners, agreed to move into this final phase before finalizing customer agreements. Larger customer agreements will be announced when they are finalized.
The xSPANCION project is structured as a Public Private Partnership, in which AAC Clyde Space Ltd. and its partners, Bright Ascension Ltd., the University of Strathclyde, D-Orbit UK, Alden Legal UK and the Satellite Applications Catapult are working in partnership with the UK Space Agency and the European Space Agency to develop a Space Data as a Service offering. The total value of the project is, as previously press released,
EUR 19.7 M (approx. SEK 225.6 M) which is co-funded by the UK Space Agency, through ESA's Pioneer Partnership Projects, with EUR 9.9 M (approx. SEK 113.4 M).
FOR MORE INFORMATION:
Please visit: www.aac-clyde.space or contact:
CEO Luis Gomes [email protected]
CFO Mats Thideman, [email protected], mobile +46 70 556 09 73
The following documents can be retrieved from beQuoted
AAC-Clyde-Space-Press-release-2023-07-26.pdf
ABOUT AAC CLYDE SPACE
AAC Clyde Space specialises in small satellite technologies and services that enable businesses, governments and educational organisations to access high-quality, timely data from space. Its growing capabilities bring together three divisions:
Space Data as a Service - delivering data from space directly to customers
Space missions - turnkey solutions that empower customers to streamline their space missions
Space products and components - a full range of off-the-shelf and tailor-made subsystems, components and sensors
AAC Clyde Space aims to become a world leader in commercial small satellites and services from space, applying advances in its technology to tackle global challenges and improve our life on Earth.
The Group's main operations are located in Sweden, the United Kingdom, the Netherlands, South Africa and the USA, with partner networks in Japan and South Korea.
AAC Clyde Space's shares are traded on Nasdaq First North Premier Growth Market. Erik Penser Bank AB is the Certified Adviser. The share is also traded on the US OTCQX-market under the symbol ACCMF.
ABOUT ESA
The European Space Agency (ESA) is Europe's gateway to space. ESA is an intergovernmental organisation, created in 1975, with the mission to shape the development of Europe's space capability and ensure that investment in space delivers benefits to the citizens of Europe and the world (www.esa.int).
The Connectivity and Secure Communications Directorate (CSC) supports innovation to boost the competitiveness of European industry in the global space market. This involves a wide range of activities, from space-based technology, systems, product for telecommunications development to the down-to-Earth application of space-based services. It also calls for engagement with a wide range of industrial, academic, and institutional partners.
Pioneer Partnership Projects provide the satellite communication industry with the right environment to introduce innovative space-based solutions systems into the commercial market.