Press Releases
2020-08-24 AAC Clyde Space AB (publ)
AAC Clyde Space AB, SAAB AB and ORBCOMM Inc. have today announced the development of the next generation of space based VDES system, marking the beginning of a new era in maritime communications. AAC Clyde Space AB will receive 17.0 MSEK in total, of which 12.2 MSEK is in the form of a grant from the Swedish Transport Administration, to finance the building, launch and commissioning of the first satellite in the project. This is intended to be the first satellite of a future constellation to provide a VDES service.
The EPIC 3U satellite is planned to launch in mid-2022 and will be the first satellite assembled at AAC Clyde Space's new integration facility in Uppsala. The satellite will carry a VDES (VHF Data Exchange System) payload from Saab for two-way communication between satellite and ground. ORBCOMM will integrate the data in its distribution centre for maritime communications.
"Today's announcement is a significant milestone for our company, with an important new satellite contract and a collaboration with two impressive players in the field. This also marks the first satellite to be built at our new satellite assembly facility in Sweden. We are very excited to be part of a team delivering a new capability to seafarers worldwide, improving safety and efficiency for maritime users. I would like to thank Saab for having selected AAC Clyde Space to be their partner in space, and I look forward to further strengthening our very successful relation with ORBCOMM", said AAC Clyde Space CEO Luis Gomes.
The first demonstration satellite is expected to be followed by a larger constellation of satellites that will form a new part of the maritime communication infrastructure. The addition of a space-based capability will increase VDES range from the shoreline to anywhere in the ocean, converting what is currently a predominantly coastal system into a global maritime system. With up to 32 times more bandwidth than the currently widely used Automatic Identification System (AIS) communication, VDES can be integrated with e-navigation systems, enabling savings in fuel and emissions of up to 25 percent, aiding navigation, and increasing safety.
The three parties have formed a consortium in equal terms to develop services based on the new infrastructure. The project will start in October 2020 and the in-orbit demonstration is planned to end in the first quarter 2023.
After demonstrating its VDES capabilities, the first satellite will also deliver AIS data to ORBCOMM.
Both ORBCOMM and Saab are leading AIS specialists: ORBCOMM offers AIS communication services to the maritime industry worldwide, whereas Saab is a leader in AIS equipment. AAC Clyde Space has previously been commissioned by ORBCOMM to manufacture satellites dedicated to AIS communication.
FOR MORE INFORMATION:
Please visit: www.aac-clyde.space or contact:
CEO Luis Gomes [email protected]
CFO Mats Thideman, [email protected], mobile +46 70 556 09 73
The information in this press release is such that AAC Clyde Space AB shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on 24 August 2020.
ABOUT AAC CLYDE SPACE
The group AAC Clyde Space offers turnkey solutions and services from mission design to on-orbit operations, including reliable customizable satellite platforms in the range of 1 to 50 Kg and a full range of subsystems for cube and small satellites. With unrivalled flight heritage and end-to-end service, AAC Clyde Space enables customers to reach their mission goals through a single, trusted point of contact.
AAC Clyde Space's shares are traded on Nasdaq First North Premier Growth Market. Erik Penser Bank AB, e-mail [email protected], telephone +46 8 463 83 00, is the Certified Adviser.
ABOUT SAAB
Saab serves the global market with world-leading products, services and solutions within military defence and civil security. Saab has operations and employees on all continents around the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technology to meet customers' changing needs. For more information, please visit www.saabgroup.com
ABOUT ORBCOMM
ORBCOMM Inc., (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things (IoT), providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources and government. For more information, please visit www.orbcomm.com.
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