Sky and Space Global funds and secures its space launch

Published at Sep 2, 2016, in Technology

Sky and Space Global Ltd (ASX:SAS) has provided the market an update on its key milestones as it aims to provide communication coverage to anyone everywhere, through a low cost maintenance model using modern satellite technology.

SAS plans to launch its 200 strong nano-satellites from mid-2018.

Here is the latest from SAS:

Lead insurance broker appointed

Global leading insurance broking and risk management provider Marsh has been selected by SAS as lead insurance broker for the full constellation of up to 200 nano-satellites to be deployed by 2020.

Marsh will provide services to cover potential loss or damage to the nano-satellites including failed launch, providing protection to SAS and its shareholders.

The appointment Marsh follows on from the agreement with Brit Global Specialty as the insurance underwriter for SAS’ initial three nano-satellites in June 2016.

The significance of the insurance coverage is highlighted with yesterday’s explosion of the SpaceX satellite on the launch pad at Cape Canaveral.

International Space University Scholarship

The launch of a full-tuition scholarship at the Southern Hemisphere Space Studies Program at the University of South Australia will run from 9th January – 10th February 2017.

In collaboration with the International Space University (ISU), the University of South Australia runs the five week program is aimed at educating the next generation of space professionals.

The ISU provides international and multidisciplinary education and research programs for the purpose of developing outer space.

Satellite Finance Conference

CEO Meir Moalem and Executive Director Brett Mitchell attended the Satellite Finance conference held in San Francisco on the 18th August 2016.

SAS was invited to attend in recognition of SAS’s technical expertise.

The Satellite Finance conference explores critical business issues impacting the commercial satellite industry.

Funds raised and financed

Following the recent oversubscribed capital raising of $4.5M, SAS is fully funded beyond the planned Q2 2017 launch of the ‘3 diamonds’ pilot network with the Indian Space Research Organisation.

The company of course is still in its early stages and anything can happen in this time, so if SAS is on your investment radar seek professional financial advice.

Whilst the technology processed by SAS is potentially game changing to the communications industry, the company is still in its early stages and has many hurdles to overcome.

Not only proving commercialisation of its technology but also threats from competitors in the communications industry. So please seek professional advice before making any investment decision.

Look out for our interview with SAS’s founders on Monday.


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