ASX listed Sky and Space Global has hit a key milestone as it moves towards launching its first 3 trial “nano-satellites” into space.
The company this week told the ASX they had successfully tested the software that will power their miniature satellites in space when they are launched next year.
Sky and Space Global said on Tuesday that two successful tests of its proprietary software had taken place in Poland and Israel, using hardware that replicates the type to be used in the company’s nano-satellites that are currently under construction.
Last month the company flagged its potential to generate revenues of around $US 500 million per year from “billions of people” who don’t currently have telecommunications services around the world because of their remoteness.
This week’s successful software test significantly de-risks the project, which has already secured a commercial reseller of its bandwidth in Africa.
The proprietary narrowband communications software, developed by Sky and Space Global’s in-house team which is led by a former Ericsson engineer, is a key IP asset for the company and the tests both technically validate and commercially de-risk its business offering according to management.
“The successful completion of a demonstration of the software system set to power our nan-satellites is an important milestone on the journey towards the launch of our 3 Diamonds nano-satellites in Q2 2017,” Sky and Space chief executive Meir Moalem told the ASX.
The IP associated with the software system will be registered in Europe and in the US and in the coming months will be uploaded to the first three nano-satellites as they enter an advanced stage of construction.
The company, which recently backdoor listed into Burelson Energy on the ASX, has been making big strides on implementing its affordable satellite global telco network based on nanosatellites
Last month, it appointed market leading insurance broker Marsh to handle its risk management and insurance broking on the ambitious project and it recently revealed that its first wholesale customer had landed new deals to sell some of the company’s nano satellite bandwidth.
Nanosatellites are a lot cheaper and smaller and easier to launch than regular satellites but are powerful enough to still send a signal back to earth capable of facilitating text, data and voice telecommunications.
The company sees major opportunities for the technology in remote areas and industries such as shipping and aviation, which are currently poorly serviced by regular cellular operators.
Future operations were also buoyed earlier in 2016 when management signed a deal with Richard Branson's Virgin Galactic to launch up to 200 nanosatellites into space aboard the billionaire's spacecraft known as “Launcher One”.
