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Kleos Space signs up first US channel partner

ASX-listed Kleos Space, which is aiming to bring a satellite-based surveillance system to market this year, has signed its irst US channel partner.

The company inked the agreement with newly-created US defence company Victoria Falls Technology.

According to Kleos, the deal will allow the procurement and integration of Kleos’ radio frequency reconnaissance data into US defence programmes, including those proposed to the US Air Force Small Business Innovation and Research (SBIR) program.

Under the non-exclusive agreement, the US defence company will be able to procure and incorporate Kleos’ scouting mission data into its defence offering and as part of innovation and research project proposals.

The SBIR program is designed to accelerate development and production of promising technologies that can be utilised by the US Air Force. Kleos said that if its channel partner’s proposal is selected, the development work would commence in 2020 and be carried out over a one-to-two-year period with a revenue generation opportunity of between US$750,000 and US$3 million.

Kleos is aiming to provide a multi-satellite system to deliver a global picture of hidden maritime activity, enhancing the intelligence capability of government and commercial entities. Its irst satellites are on track to be launched on a Rocket Lab Electron rocket from New Zealand in the second quarter of 2019.

EUROPEAN FUND RAISING: Meanwhile, the company has announced initiatives to help it raise funds in the European market. It is planning to add a listing on the Frankfurt Stock Exchange in addition to its listing on the ASX.

The company said it has engaged an equity research irm to prepare and publish “initiating coverage” with comprehensive analysis of the market and competitive environment over the next 12 months. Kleos Space CEO Andy Bowyer said the move would bolster its existing efforts in the Australian market, where it expects strong interest from government agencies.

“With Germany being the heart of the European space sector, these discussions are part of our strategy to build upon our support in Australia and enlist European-based investors who are dealing with other local defence and space-enabled companies in the US$41 billion ISR market,” Bowyer said. Kleos noted that the Frankfurt listing had no additional governance or reporting requirements over those already performed for the ASX. Geoff Long, Commsday

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