SAS signs MOU with Virgin Galactic
Sky and Space Global Ltd (ASX:SAS) has signed a non-binding Memorandum of Understanding with spaceflight company Virgin Galactic for the potential use of its satellite network to provide connectivity to Virgin Galactic’s 747 carrier aircraft.
Under the terms of the MOU, the two parties will assess technical and commercial parameters to determine whether Virgin Galactic’s modified 747-400 (Cosmic Girl) carrier aircraft can be made compatible with SAS’s space-based nano-satellite communications network.
The MOU presents a commercial opportunity for SAS should the feasibility investigation result in a positive outcome. The parties could work together to develop communications technology to provide connectivity for Cosmic Girl during its flights.
This MOU agreement is non-binding and is yet to realise any commercial value so if looking at SAS for your investment portfolio, seek professional financial advice before making any investment decision.
Previously SAS had announced to the market that it has contracted four dedicated missions on the LauncherOne system from 2018. LauncherOne is Virgin Galactic’s orbital launch vehicle dedicated to the small satellite market.
Each mission on LauncherOne will carry multiple nano-satellites, potentially enabling SAS to rapidly establish a full constellation of up to 200 nano-satellites.
LauncherOne uses Cosmic Girl as a flying launch pad-helping make the service more flexible and more affordable.
SAS is fully funded beyond the launch of its ‘3 diamonds’ pilot network with the Indian Space Research Organisation following the recent oversubscribed $4.5M fund raising. The launch is scheduled for the second quarter of 2017.