As Australia’s burgeoning space industry awaits the release of the space industry capability review, a Luxembourg-based satellite technology company has announced plans to list on the ASX via an initial public offering following a successful $2.2 million seed funding round.
Kleos Space is looking to leverage its in-space manufacturing technology, which enables the deployment of very large structures in space. Its first application is the Geolocation Intelligence Mission, which will be launched next year. This satellite constellation is a revenue generating remote sensing/geolocation pathfinder satellite system that will be followed by a growing constellation of satellites that will further grow the company and the value to the customer.
The data the Kleos satellites gather from geolocated radio transmissions will be sold for search and rescue, maritime security and regulatory intelligence purposes by users for whom quality geospatial intelligence and signals intelligence is essential.
Kleos Space said this type of data will be of significant importance and application for countries like Australia, which has large coastline borders, and are under the constant threat of drug and people smuggling, and activities such as illegal fishing. The Kleos Space data would allow security agencies to better track and detect, as well as monitor, illegal vessels trying to enter Australian shores, and to protect Australia’s vast coastline.
The Luxembourg company said the seed funding and the decision to IPO will raise the capital required to rapidly accelerate the company’s satellite procurement, geolocation data sales, growth objectives, and will help a fast start into the market in order to stay competitive.
"Kleos Space’s intended listing on the ASX has been enabled by the significant support we have received from the Luxembourg government and the local expertise ecosystem. We are excited to be co-operating with other Luxembourg space companies new and old within the SpaceResources.lu initiative to further develop our offer, and anticipate significant space segment contracts will be placed within the growing Luxembourg space community," said Andy Bowyer, director of Kleos Space.
"Australia is a key target market for Kleos Space. Its geolocation data will be of huge value to agencies tasked with managing and protecting Australia’s vast coastline from people and drug smugglers, and illegal fisherman."
Kleos Space plans to have both sales offices and local intelligence offices in Australia delivering targeted local solutions for Australian agencies.
The announcement of the planned listing takes place only six months after the signature of a memorandum of understanding with the Luxembourg Ministry of Economy, which marked the start of Luxembourg government’s support to the research and development phase of Kleos Space and to provide further support to the company through Luxembourg research institutes such as LIST and other Luxembourg-based companies such as EmTroniX.