2021-03-16 AAC Clyde Space AB (publ)
AAC Clyde Space has been awarded a 68 kEUR (approx. 690 kSEK) contract with OHB Sweden. The contract aims to review the qualification status of the intended AAC Clyde Space's core avionics for ESA's Arctic Weather Satellite. Given that the first phase is successful, the second phase which is expected to follow in around mid-2021 is expected to be worth approx. 950 kEUR (approx. 9.7 MSEK).
OHB Sweden is the prime contractor for the Arctic Weather Satellite, providing the satellite platform and system integration.
AAC Clyde Space is intended to provide Sirius command and data handling units and the Starbuck power system, with mission specific customizations. In the first phase, AAC Clyde Space will perform and deliver a status review of the systems to OHB Sweden.
A contract for the actual implementation in phase two is expected to be signed after the successful status review during the second quarter of 2021. Under this phase, an engineering model for the satellite is to be delivered in Q1, 2022 and a flight model in Q4, 2022.
"This order comes on the back of the strong reputation that the Sirius and Starbuck systems have gained through their high performance, reliability and accessibility. We are delighted that our systems have been selected for this important prototype mission that aims to better understand the Earth's environment," says AAC Clyde Space CEO Luis Gomes.
ESA's Arctic Weather Satellite is an initial prototype mission that aims to demonstrate the usefulness of radiometric measurements to improve weather forecasts in the Arctic region. The final solution would involve a full constellation of satellites to provide more frequent measurement, something that cannot be achieved by the larger geostationary satellites already in use to depict the areas.
The information in this press release is such that AAC Clyde Space AB (publ) 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 15:30 CET 16 March 2021.
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. The share is also traded on the US OTCQX-market under the symbol ACCMF.
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