GomSpace provides update on maritime monitoring program in Indonesia
The Indonesian government has publicly unveiled its plans to launch a 20-satellite constellation with satellites from Denmark. The financing plan, based on MoU with Denmark ratified on June 14, 2023, is yet to be concluded.
Following the December 22, 2023, press release, concerning the contract for 20 satellites for Indonesia's Ministry of Marine Affairs & Fisheries, with a value of approx. 650 MSEK, discussions on government-to-government financing are still pending. Further updates are anticipated in Q2 2024.
On March 6, 2024, Indonesia unveiled their plan to launch a satellite network for maritime monitoring, with the satellites from Denmark and the first satellite flying in July 2024. Link: Indonesia unveils plan to launch a satellite network for maritime monitoring (mongabay.com). In anticipation of this timeframe, GomSpace is concurrently undertaking essential satellite and launch preparations.
The Indonesian maritime surveillance program is linked to the memorandum of understanding (MoU) between the Danish Ministry of Foreign Affairs and the Indonesian Government, ratified on June 14, 2023. The MoU outlines a potential 1 billion Euro infrastructure project financing from Denmark to Indonesia. Link: 1 BEUR Government to Government Agreement.
Following the commercial contract signing on December 22, 2023, and the creation of the Joint Venture EPGS Partners between GomSpace and Ellipse Projects France, Ellipse Projects has established a new entity in Denmark, named Ellipse Projects Denmark. The intention is to provide all services from Denmark, employing Danish personnel, thereby bolstering the Danish export contents.
Olivier Picard, CEO of Ellipse Projects comments: “Ellipse Projects is proud to team up with GomSpace and to be the prime contractor for this contract through the EPGS Partners Joint Venture”.
GomSpace CEO, Carsten Drachmann adds: “At GomSpace we are excited to partner with such an experienced company like Ellipse Projects, whose track record in managing government projects in Southeast Asia and Africa is significant, with strong references from financial institutions in both France and UK. The fact that they are now committed to building a business in Denmark to support Danish export growth, is a testament to their commitment to success in our joint Indonesian project”.
GomSpace highlights that no information in this announcement is to be interpreted as a guarantee for a final contract. The company cannot control the final financing agreement nor other circumstances that may affect the completion of the contract as outlined.
For more information, please contact:
Carsten Drachmann (CEO)
Tel: +45 40 63 40 36
E-mail: cdra @ gomspace.com
About GomSpace Group AB
The company’s business operations are mainly conducted through the wholly-owned Danish subsidiary, GomSpace A/S, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB is the Company’s Certified Adviser. For more information, please visit our website on www.gomspace.com.