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Kleos Space confident of attracting Australian government business

 

Kleos Space remains conident that Australian government agencies are likely to be early customers for its satellite-based surveillance and reconnaissance service, which is due to launch next year.

 

The company, which listed on the ASX in August this year, said in an update to shareholders that it had made signiicant technical and commercial progress towards a satellite launch in Q2 2019.

 

Its Canberra-based subsidiary, Kleos Space Asia Paciic, is expecting to capitalise on the federal government’s recent pledge to invest $500 million to improve its spacebased intelligence, surveillance and reconnaissance capabilities.

 

The company said that it has now signed government and defence contractor Scientiic Management Associates to provide it with Australian national surveillance and defence opportunities. Kleos and Scientiic Management Associates intend to work together for mutual beneit arising from business opportunities in the sector.

 

Kleos was making its irst quarterly update since launching in August following an $11 million capital raising via initial public offering. The capital raising received signiicant support from Australian-based institutional investors.

 

Highlights for the quarter included an MoU with Airbus Defence and Space to expand radio transmitter geolocation market opportunities; milestones with GomSpace for satellite supply and build achieved; a contract with Rocket Lab for Q2 2019 launch of its scouting mission satellites; and strong business development activities in Australia as well as in the US and Europe.

 

BOARD CHANGES: Meanwhile, the company has also announced a number of board changes, including the stepping down of Canberra-based Asia Paciic MD Erik Tyler. Tyler will step down from the board on November 1, citing the need to focus more on commercial activities. “Stepping away from a board position at Kleos will allow me to focus on the important Asia Paciic market, and continue to provide consultancy services.

 

Moving towards our KSM launch in Q2 2019, with industry support from Tier 1 companies is a true validation for the Kleos technology,” Tyler said. Current chairman and executive director Peter Round has agreed to increase his time commitment from 100 days per annum to 150 days per annum. The company said the increase is to be applied to the business development, international relations and military relations activities. Geoff Long, Commsday

Australasia Satellite Forum 2019

 

The Westin Hotel, Sydney, Australia

21 & 22 May 2019

 


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