ProcureAM co-founder and CEO Andrew Chanin talks to Proactive about how technology giant Amazon is ramping up its Project Kuiper, where it has now signed deals for up to 83 launches for its 3,000 internet satellites. The initiative is Amazon's answer to providing high-speed internet around the world by sending a constellation of low Earth orbit satellites into space.
Chanin says Amazon's is being dubbed as the largest ever commercial space launch contract, and although the size of the deal was not disclosed, Amazon had stated in 2020 that it would invest more than $10 billion on the project. Chanin says the agreement is 'a great sign for the overall space industry' because of the variety of players involved, including France-based launch services company Arianespace and US-based United Launch Alliance.
Chanin runs The Procure Space UCITS ETF (LSE:YODA), which seeks to offer pure-play exposure to the space economy by tracking the S-Network Procure Space Index, which is focused on satellite technologies, space technology and hardware, rocket and satellite manufacturing and operation, and telecommunications.