Sky and Space Global in partnership talks with strategic industry players

Sky and Space Global partnership talks nano satellites SAS ASX

West Perth-based Sky and Space Global (ASX: SAS) has reported it is in partnership discussions with several potential suitors regarding development of its Equatorial constellation, which will contain 200 nano-satellites.

Sky and Space Global’s prospective partners have included major telecommunications and satellite companies with talks pinpointing development of the Equatorial constellation starting in late 2018.

This technology was trialled in the company’s launch of its first three nano-satellites less than a month ago. The nano-satellites called the “3 Diamonds” resulted in the world’s first voice call conducted via this medium.

Once the Equatorial constellation is operational, remote areas and markets lacking communication network infrastructure will be able to access satellite connectivity at a lower cost.

Key Highlights:

  • Sky and Space Global plans to launch its Equatorial constellation containing 200 nano-satellites by 2020;
  • The recently launched 3 Diamonds nano-satellites have enjoyed three weeks of successful operation: voice calls, instant messaging, data and images;
  • Sky and Space Global owns intellectual property for its hardware and software;
  • Two world firsts: operation and routing of inter-satellite links; narrowband services between multiple handsets;
  • Nano-satellites are a “disruptive” technology and provide cost advantages over established satellites; and
  • Sky and Space Global is well-funded and poised for commercial success.

Sky and Space Global “de-risked” and in prime position for growth

The company chief executive officer and managing director Meir Moalem said: “We are already progressing forward and fully committed to launching the full constellation of 200 nano-satellites and forging strong partnerships with leading industry players in order to realise our mission for delivering affordable connectivity to anyone, anytime, anywhere.”

Sky and Space Global was incorporated to develop and operate a nano-satellite communications network that will provide international coverage to even the world’s remotest areas.

From a $0.17 close on Friday, Sky and Space Global shares rose 10 percent in early morning trade on the back of today’s announcement.

Lorna has more than 10 years' experience as a finance journalist and editor. She has written for an array of industry publications reporting on various sectors, including: resources, energy, construction, biotech, pharma, science and technology, agriculture, and chemicals. Specialising in resources, Lorna has covered a myriad of small and large cap ASX and dual-listed stocks.