Space-as-a-Service boost with UK satellite contract, acquisitions: Page 2 of 3

November 24, 2020 // By Nick Flaherty
Space-as-a-Service boost with UK satellite contract, acquisitions
AAC Clyde Space is aiming to dominate the Space-as-a-Service market through a UK satellite project and the acquisitions of SpaceQuest and Hyperion Technologies.

“This game-changing project will see AAC Clyde Space develop cutting-edge technology, including communication between satellites to increase data performance, and help keep the UK at the forefront of the global small satellite market,” said Dr Graham Turnock, CEO of the UK Space Agency.

“Building satellites quicker and in higher volumes is not only vital to meet the increasing demand for services we all rely on, it also supports the launch of small satellites from UK soil in the coming years. The UK is a leading investor in telecommunications research, which is why we recently committed £250 million of investment to back ESA projects led by innovative companies like AAC Clyde Space.

The funding for the project comes the ESA Pioneer Partnership Projects programme which aims to support businesses in taking up new and advanced technologies and services in space. The UK Space Agency through ESA, will co-fund the project with €9.9m.

SpaceQuest, acquired last month for $8.4m, already operates a highly profitable Space as a Service business with 20 satellites in orbit for various customers.

“This acquisition represents the next step in our strategy to grow our operations in the US, and to expand our Space as a Service business,” said Gomes. “SpaceQuest's fleet of satellites and ground station network represent a great addition of capability to our SaaS offering and further strengthens our plans to change the economics of delivering data services from space."

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