The EOS SpaceLink satellite network a little closer
Space, defense and communications manufacturer Electro Optic Systems is set to launch its ambitious global network of SpaceLink satellites with export financial support from the federal government.
Export Finance Australia will provide conditional financing of up to US$80 million in debt financing for the initial satellite communications constellation to be launched by EOS subsidiary SpaceLink Corporation.
This is one-third the cost of the first four of a planned global system of linked optical relay communications satellites that will provide continuous, real-time data connectivity to satellites and other spacecraft in near-Earth orbit.
Due to export financing and a $25 million investment in SpaceLink by satellite manufacturer OHB Systems AG, EOS will not be proceeding with a previously announced fundraising at this time.
Investors had written down shares of EOS, concerned about the company’s ability to finance satellites as well as expansions elsewhere in the business.
However, shares of the company rebounded from the $3.16 announcement this morning and by late morning had risen 9.1% to $3.00.
EFA funding for SpaceLink is conditional upon completion of an independent technical review of the project’s feasibility, development of a financing plan, and satisfactory continued financial and business performance by EOS.
The SpaceLink network consists of a constellation of Medium Earth Orbit (MEO) relay satellites that ensure that all client satellites always have visibility to one or more SpaceLink relay satellites.
In SpaceLink, data is continuously relayed from satellites to terrestrial gateways and then to private networks or cloud computing infrastructure.
Image: Electro-optical systems
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