GomSpace Selected for the Delivery of a Constellation of Satellites to Sky and Space Global

GomSpace A/S ("GomSpace") a subsidiary of GS Sweden AB (publ) ("the Company") has been selected by and has entered into a procurement contract with the UK company Sky and Space Global (UK) Ltd. to develop and deliver a constellation of satellites within a 4 year period. The first delivery of satellites will be in 2018. The revenue will be distributed over the term of the agreement. The total value of this order is depending on several options including development, services and choice of satellites and will therefore range between approximately EUR 35.0 and 55.0 million.

"GomSpace is extremely excited to be part of this ground-breaking project from Sky and Space Global (UK) Ltd. With this project, we believe that Sky and Space Global, seconded by GomSpace, is on the verge of a breakthrough for nanosatellites in the professional low-earth orbit satellite business," says Niels Buus, CEO of GomSpace.

"We are getting very close to the launch of our first 3 Diamonds mission, to which GomSpace is already a key supplier, and our goal is to build a communication network based on a constellation of nanosatellites. This contract with GomSpace is another step towards a commercial, revenue generating service. We are very happy to continue working with GomSpace which have proven their value and capabilities," says Meir Moalem, CEO of Sky and Space Global Ltd.

Source: GomSpace A/S
Date: Feb 28, 2017