Sky & Space Global, an Israeli tech company set to list on the ASX via a reverse take over with Burleson Energy, has begun the construction of its first three nano-satellites, claiming they will be 80% cheaper than traditional telco satellites.
The company expects to have launch contracts signed in the next couple of weeks for its first launch in mid-2017. Where the launches would take place remains undisclosed.
This news comes after Sky & Space Global announced yesterday that it had raised $4.5 million to enable the RTO, which is scheduled for April.
Sky and Space Global’s business is based around building nano-satellites for a fraction of the price of the traditional version, which can cost up to $600 million. They’re hoping to use these to disrupt the telco space by enabling cheaper voice and data services in areas traditional mobile coverage doesn’t reach.
Compared to standard satellites, the company claims their product cuts scost by around 80%, primarily because their size offers massive saving in launch costs, and will enable them to be included in other payloads.
The satellites, which weigh between 1kg and 10kg, are being built in Israel.
CEO Meir Moalem said the business has the potential to offer access for four billion people not currently connected due to lack of cellular and ground infrastructure.
“Sky & Space Global is aiming to develop a communication infrastructure that will allow bi-directional voice and data communication anywhere, anytime at an affordable cost, based on a global constellation of nano-satellites,” he said.
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