Sky and Space expands partnership with GomSpace to increase nano-satellite capabilities

Sky and Space Global ASX SAS GomSpace nanosatellite

Sky and Space Global (ASX: SAS) has expanded an existing partnership with Denmark-based GomSpace to increase the capabilities of the Sky and Space Global nanosatellites it is developing.

The duo inked a contract earlier this year for GomSpace to develop and deliver Sky and Space Global’s full equatorial nanosatellite constellation, with first delivery due in 2018 and deployment of the full constellation of 200 nano-satellites by 2020.

Under the expansion, the satellite capabilities will be enhanced, increasing the order’s value up to about A$22 million.

In the last three months, Sky and Space Global has built momentum for its nanosatellite technology including achieving a “world first” with phone calls, instant messaging, voice recording, and image transfers made via its 3 Diamonds nano-satellites which were launched to trial the technology.

According to Sky and Space Global, this achievement represented the company’s biggest milestone and validated the technology.

Offtake partners have begun showing an interest in the technology and Sky and Space Global secured a binding commercial offtake contract with Sat-Space Africa during the September quarter.

Sat-Space Africa will purchase all the available communication bandwidth from Sky and Space Global’s 3 Diamonds, which is anticipated to generate up to A$45 million in potential revenue.

Since proving the technology in trials, Sky and Space Global has progressed to the cyber security phase and signed a memorandum of understanding with Check Point Software Technologies to integrate Check Point’s security into the nanosatellite communication platform.

The duo aims to create a new global standard for space assets and cyber security.

During October, Sky and Space Global achieved another “world first” by completing a financial transaction using the 3 Diamonds and Africa-based mobile payments start-up BeepTool Communications and Integrated Services.

The trial demonstrated financial transactions could be made from one phone to another using bandwidth from the nanosatellites.

BeepTool and Sky and Space Global are currently investigating other collaborative options including BeepTool purchasing the nanosatellite bandwidth to service its 80,000-plus customers across Africa and the world.

West Perth-based Sky and Space Global’s aims to develop and operate a global nanosatellite communications network that will provide international coverage to even the world’s remotest areas.

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.