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Space company secures $3.5 million deal ahead of ASX listing

space mission

A Luxembourg-based satellite technology company that has announced plans to list on the ASX has landed a deal for its Scouting Mission satellite system.

A Luxembourg-based satellite technology company that has announced plans to list on the ASX has landed a deal for its Scouting Mission satellite system.

Kleos Space has signed an authorisation to proceed (ATP) with GomSpace to launch the initial satellite system, Scouting Mission, as part of Kleos Space's 20-system constellation. Kleos Space’s technology will launch and operate its earth observation satellite constellation in early 2019, with GomSpace scheduled to deliver the Scouting Mission’s launch by Q1 2019.

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The Scouting Mission will be the initial satellite system in Kleos Space’s Geolocation Intelligence Mission, which will be a 20-system constellation that will globally gather geolocated radio transmission data, which will be provided to users as activity based intelligence as a service to guard borders, protect assets and save lives. The intelligence product will be sold for search and rescue, maritime security and regulatory intelligence purposes to users for whom quality geospatial intelligence and situational awareness is essential.

Kleos Space said this type of data will be of significant importance and application for countries like Australia, who have large coastline borders, and are under the constant threat of drug and people smuggling, and activities such as illegal fishing. The data would also 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 announcement comes a month after the Luxembourg company confirmed its intentions to list on the ASX.

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"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.

Space company secures $3.5 million deal ahead of ASX listing
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