Brent Abbott brings to ÅAC extensive business development experience and was in his previous role responsible for major contracts with CYGNSS, a NASA constellation now flying, and OTB-1, the world's first completely commercial hosting satellite mission, due for launch next year. Michael Carey, current CEO, will remain in AAC Microtec North America Inc. as a member of the board.
Prior to joining AAC Microtec, Abbott served as Director of Business Development for Surrey Satellite Systems US. He was responsible for bringing in the company's first major contracts - CYGNSS (The Cyclone Global Navigation Satellite System), a NASA constellation now flying, and OTB-1, the world's first completely commercial hosting satellite mission carrying payloads for a variety of commercial, government, and academic organizations, due for launch next year. Brent was also instrumental in landing the Formosat-7/COSMIC-2 constellation program for Surrey UK. Prior to joining Surrey in 2008, Abbott served as business development manager at Honeywell Defense & Space for 17 years responsible for satellite subsystems sales. His background also includes work as an engineer at Honeywell Commercial Aviation. Brent has a Bachelor of Science degree in electrical engineering from Iowa State University.
- We welcome Brent Abbott as CEO of AAC Microtec North America, says Michael Carey, CEO AAC Microtec North America Inc. He is exactly the right person with the right skills to further develop the US market. I look forward to working with Brent and supporting his initiatives.
- My experience of bringing new products to the US market solidly bolsters ÅAC's expansion plans - we're a very good fit, said Brent Abbott. I see that ÅAC's products are well placed for the expanding small satellite market, and I look forward to elevating us to the next level in North America.
- I am excited to welcome Brent to the ÅAC team. This is another important step to establish ÅAC Microtec as a leading commercial satellite company, concludes Mats Thideman, acting CEO and CFO ÅAC Microtec AB
Brent will commence his work with ÅAC Microtec on 6 September 2017.
FOR MORE INFORMATION:
Please visit: www.aacmicrotec.com or contact:
Acting CEO and CFO Mats Thideman, [email protected], +46 70 556 09 73
Chairman of the board Rolf Hallencreutz, [email protected] , +46 70 964 21 60
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 08:30 CET on 4 September, 2017.
ABOUT ÅAC MICROTEC
ÅAC Microtec is a supplier of spacecraft avionics, such as onboard computers, mass memory storage and power management units. ÅAC's technical competence includes the advanced and robust, fault-tolerant microelectronics for critical space applications. The company also markets complete satellites (weight <150 kg) in collaboration with other specialized suppliers.
ÅAC Microtec's shares are traded on Nasdaq First North Stockholm. G&W Fondkommission, telephone +46 8 503 000 50, is the Certified Adviser.
Small satellite experts AAC Clyde's DaVinci mission was successfully launched on December 16th from Mahia, New Zealand on Rocket Lab's Electron Rocket. The customer, U.S. North Idaho Stem Charter Academy has since then confirmed that contact has been made with the spacecraft, with all spacecraft systems performing as planned.
Small satellite experts at AAC Clyde and its partners have redefined the art of the possible with the launch of their latest cutting-edge CubeSat, SeaHawk-1. Clyde Space, part of the AAC Clyde, designed and built SeaHawk-1 the first of two satellites to be delivered for the SeaHawk demonstration mission. SeaHawk-1 was successfully launched yesterday on the SpaceX Falcon 9 launch vehicle from the Vandenberg Spaceport in California yesterday on SSO-A SmallSat Express. AAC Clyde has since made contact with SeaHawk-1 from their Glasgow based ground station, all spacecraft systems performing as planned.
ÅAC Microtec will adopt to IFRS accounting principles. The interim report for the third quarter of 2018 will be ÅAC's first interim report, prepared in accordance with IFRS. Comparative figures for the Group under IFRS have been calculated from 1 January 2017. The transition to IFRS has been implemented to adapt the Group to the requirements for listing on Nasdaq First North Premier and ultimately at Nasdaq Stockholm.
ÅAC Microtec AB ÅAC and Ball Aerospace have signed a Memorandum of Understanding (MOU) to work together to address new market opportunities in the small satellite market. This collaboration aims to leverage the companies' respective capabilities and unique offerings to address the demand for lower cost and capable solutions for the small satellite markets in the U.S and globally.
ÅAC has been awarded a SMART Research and Development Grant from Scottish Enterprise to develop their ground station services in Glasgow, a service which form an important part of the group's satellite-as-a- service offering. The grant is worth approximately 170 kGBP (approx. 2 MSEK) during 12 months.
ÅAC and the Mauritius Research Council, MRC (mrc.org.mu), have signed a contract to formalize the collaboration to deliver a 1U CubeSat and mission services for their pioneering Mauritian Infrared Satellite (MIR-SAT1) mission. The company will supply a fully integrated 1U CubeSat alongside a comprehensive mission service which includes, training, ground station delivery and operations support. The contract value amounts to £325,000 (approx. 3.8 MSEK) and will be delivered during 2019.
ÅAC has won an order on Sirius avionics subsystems from a commercial customer. The subsystems valued at approximately 1 MSEK, will be delivered in December this year proving ÅAC's ability to deliver advanced systems on short notice.
The space company ÅAC Microtec has decided to initiate a process to commence preparations to transfer the listing of its shares to Nasdaq Stockholm's Main market. The first step will be to apply for listing on the Premier segment of Nasdaq First North.
ÅAC has delivered its second 3U satellite to Canadian company Kepler Communications, which is set for launch later this year. The satellite was manufactured in under three months to form part of a pilot programme to demonstrate its store-and-forward data service aiming for a much larger constellation targeting as well the global IoT market and in-space connectivity.
Craig Clark, founder of Clyde Space and CSO for ÅAC Microtec has informed the company that he has sold 580,000 shares and given a total of 121,503 shares as a gift. Following the transactions, Craig Clark holds 8 927 355 shares in ÅAC Microtec, corresponding to 13.0 percent in the company.
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