AAC Clyde Space wins SEK 56.2 M order from LusoSpace
2024-03-04 AAC Clyde Space AB (publ)
AAC Clyde Space has won a GBP 4.3 M (approx. SEK 56.2 M) order for 11 satellite kits from Portuguese company LusoSpace to be delivered in the fourth quarter of 2024. The EPIC 8U variant will be co-designed by AAC Clyde Space and LusoSpace, and built in Portugal.
LusoSpace intends to combine the EPIC 8U satellites into a VDES communication constellation, to be launched late 2025. The order follows an initial order for a 3U satellite received earlier in Q4, 2023.
The satellites will be equipped with a VDES (VHF Data Exchange System) payload. VDES was developed to meet the increasing need for data communication between maritime users, providing faster data transfer rates with greater integrity than current VHF data link systems.
"We are delighted to share our experience and knowledge with LusoSpace in this project which aims to catalyze Portuguese capacity in space with a commercially viable project. Our EPIC range of satellites has unrivalled flight heritage, a robust design, and an attractive price," says AAC Clyde Space CEO Luis Gomes.
"We believe that this contract will position LusoSpace in a new exciting sector, VDES maritime communications. Our purpose it to add value in the maritime sector for people, companies and institutions" says LusoSpace CEO Ivo Vieira.
The Project is funded by the Portuguese Plano de Recuperação e Resiliência (PRR). The fund's objective is to catalyse national capacity in space which is also commercially viable. LusoSpace will develop and deploy 12 nanosatellite spacecraft carrying VDES payloads.
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 information in this press release is such that AAC Clyde Space 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 08:30 CET on 4 March 2024.
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, in our chosen markets, 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. The Company's Certified Adviser is Carnegie Investment Bank AB (publ). The share is also traded on the US OTCQX-market under the symbol ACCMF.
