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ÅAC Microtec wins 5 MSEK launch order from KP Labs

ÅAC Microtec AB's subsidiary, Clyde Space, has been selected by Polish KP Labs to provide launch for the mission Intuition-1. The order value is 0.4 MGBP (approx. 5 MSEK).

Earlier in March, KP Labs selected AAC Clyde Space to design and manufacture a satellite platform for its mission, an order of 0,5 MGBP (approx. 6,1 MSEK).  In this order KP Labs extends the collaboration to also include arranging the launch and in orbit commissioning of the satellite as well as the early operations phase of he mission. Launch is currently scheduled for the fourth quarter 2022.

"The process of selecting a platform and a launch supplier has been quite complex. We analyzed a lot of parameters and at the end of the day, AAC Clyde Space offered us everything we needed in both areas, meeting high requirements for power, precision, volume and providing us a wide variety of launch options, which is crucial for our mission. We received a very well-tailored proposal, which describes not only what we get, but most of all - why we get it," says Grzegorz ada, Project Manager of the Intuition-1 programme.

The mission aims to demonstrate an advanced hyperspectral imager and novel on-board processor developed by KP Labs. The 6U satellite holds the potential to become the first with processing capability to segment hyperspectral images in orbit, using neural network techniques.

"We are thrilled to receive this second order from KP Labs, expanding our contribution to their exciting first mission through the provision of launch services," says Craig Clark MBE, Clyde Space Founder and CSO. 

Traditionally used in the mining industry, hyperspectral imaging is increasingly being used in a variety of applications. KP Labs envisage future use for its technology in applications ranging from agriculture, forestry and mining, to environmental protection and defense.

KP Labs is part of the Polish FP Space consortium aiming to develop machine learning and big data applications for use in space. The software development company Future Processing and the electronics company FP Instruments are part of the consortium alongside KP Labs.

2019-03-18

FOR MORE INFORMATION:
Please visit: www.aacmicrotec.com and www.clyde.space or contact:
Acting CEO Mats Thideman, [email protected]
Chairman of the Board, Rolf Hallencreutz, [email protected]

The information in this press release is such that ÅAC Microtec 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 08:50 CET on 18 March, 2019.

ABOUT ÅAC MICROTEC AB
ÅAC Microtec and its subsidiary Clyde Space offer a full turnkey mission service from design to on-orbit operations including reliable platforms in the range of 1 to 50 Kg; customizable to suit our customers' requirements. Our end-to-end service package enables our customers to reach their mission goals with a single, trusted point of contact. In addition, we supply a full range of subsystems for cube satellites and small satellites. 

ÅAC Microtec's shares are traded on Nasdaq First North Stockholm. G&W Fondkommission, e-mail [email protected], phone +46 8 503 000 50, is the Certified Adviser.

31 March 2021
Regulatory

2021-03-31 AAC Clyde Space AB (publ)
AAC Clyde Space AB ("AAC Clyde Space" or the "Company") today announces that the Company has entered into a conditional agreement for the acquisition of the privately owned Swedish company Omnisys Instruments AB ("Omnisys"), a leading developer and manufacturer of measuring instruments for advanced space projects (the "Acquisition"). The purchase price amounts to approximately SEK 75 million, where SEK 25 million is paid in cash and approximately SEK 50 million is paid through 17,340,100 newly issued consideration warrants in AAC Clyde Space. The completion of the Acquisition of Omnisys is, inter alia, conditional on the issue of the consideration warrants being approved at an extraordinary general meeting.

16 March 2021
Regulatory

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).

01 March 2021
Regulatory

2021-03-01 AAC Clyde Space AB (publ)
AAC Clyde Space AB is updating its management structure to increase agility and underpin continued growth. The group is implementing a distributed management structure, with group level sales and strategic leadership in Group management, and geographical operations management for each country.

25 February 2021
Regulatory

2021-02-25 AAC Clyde Space AB (publ)
Craig Clark has decided to leave AAC Clyde Space where he has been CSO. Craig has held the position since 2018 when AAC merged with Clyde Space to form AAC Clyde Space.

18 February 2021
Regulatory

2021-02-18 AAC Clyde Space AB (publ)

30 December 2020
Regulatory

2020-12-30 AAC Clyde Space AB (publ)
AAC Clyde Space AB (publ) ("AAC") announced on October 15, 2020 that an agreement had been reached to acquire all shares in SpaceQuest Ltd. All conditions for completion of the acquisition have been met and the acquisition has thus been completed. Hence, AAC Group has a strong foothold in the United States, the world's largest space market.

26 November 2020
Regulatory

2020-11-26 AAC Clyde Space AB (publ)

18 November 2020
Regulatory

2020-11-18 AAC Clyde Space AB (publ)
AAC Clyde Space embarks on a 3-year project, named xSPANCION, with the European Space Agency (ESA) to develop an innovative satellite constellation service, including the manufacturing of 10 spacecrafts. The UK Space Agency through ESA, will co-fund the project with 9.9 MEUR (approx. 101.4 MSEK). AAC Clyde Space intends to, outside this project, enter into customer service agreements for data delivery from the constellation.

10 November 2020
Regulatory

2020-11-10 AAC Clyde Space AB (publ)

05 November 2020
Regulatory

2020-11-05 AAC Clyde Space AB (publ)
At the extraordinary general meeting in AAC Clyde Space AB (publ) held on 5 November 2020 at 10.30 a.m. (CET) at the company's premises, Dag Hammarskjölds väg 48 in Uppsala, the following resolutions were adopted:

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IR CONTACT

Mats Thideman CFO and Deputy CEO
+46 70-556 09 73 [email protected]

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