Sky and Space Global Ltd (ASX:SAS) recently achieved a major milestone by completing the Critical Design Review (CDR) for its Pearl nanosatellites, immediately progressing the project to the construction and integration phase.
Importantly, the CDR supports SAS’ business model of using nano-satellites to provide low-cost narrowband communication solutions to people and businesses in remote geographies.
The first launch of the Pearl nanosatellites remains on track for 2019, with successive launches to proceed in the following quarters until the entire constellation of about 200 Pearls is in orbit in 2020.
SAS has already signed multiple agreements with strategic international telecoms partners, which are expected to convert into commercial revenue generating agreements in due course.
The CDR was undertaken by leading global aerospace construction partner GomSpace, a European based, Nasdaq listed contractor specialising in the construction and testing of bespoke nano-satellites.
The CDR process assessed all technical aspects including schedule, overall design, altitude control performance and system budgets to ensure each aspect meets the required standard to progress to the construction phase.
The review concluded that the design presented by GomSpace to SAS complies with the requirements, and the Pearls can progress to assembly and integration, also to be completed by GomSpace.
Honoured today to meet British Ambassador to Israel @DavidQuarrey. Proud to be British #NewSpace technological innovators. Read more: https://t.co/VM8EzPYWhM pic.twitter.com/KsCsKpMqaF
— Sky and Space Global (@SkySpaceGlobal) October 23, 2018
Assembly and integration is scheduled to commence immediately and construction of the first batch of Pearls is expected to complete on time for the launch.
SAS co-founder, managing director and chief executive officer Meir Moalem said: “We are delighted to have successfully completed the CDR with GomSpace, reaching another milestone and remaining on track for launch next year.
“Positive results from the CDR validate our technology, support our strategy and reaffirm our goal of providing communication technology to remote geographical locations.”
“The construction process phase has begun and I look forward to updating the market once this is completed.”