European Space Agency signs contract with NanoSpace to develop advanced propulsion for nanosatellites

NanoSpace AB - a subsidiary of GomSpace Group AB (the ”Company”) has signed a contract with the European Space Agency (ESA) to develop and a qualify an advanced propulsion system suitable for nanosatellites. The contract value is 800.000 EUR and the project will run for 2 years.

The objective of this contract is to develop a propulsion system that can give nanosatellites “6 degrees of freedom” control with high accuracy, and this is needed to enable advanced satellite missions such as close formation flying, rendezvous and docking. The work will be based on NanoSpace miniaturized and already flight proven propulsion technology that is baselined on several hundred cubesats the coming years.

“This new contract with ESA will take our miniaturized propulsion technology to the next level in terms of functionality, and hopefully open the door to some highly advanced cubesat missions in the future”  – says Niels Buus, CEO of GomSpace.

For more information, please contact:
Niels Buus (CEO)
Tel: +45 40 31 55 57
Email:
nbu @ gomspace.com

About NanoSpace

NanoSpace is a leading provider of novel products for satellite propulsion applications. The Uppsala based company started its operation in 2005 as a subsidiary of SSC but was acquired by GomSpace in October 2016.  NanoSpace’s propulsion technology and products are based on its leading expertise in MEMS (Micro Electro Mechanical Systems) technology.

About Gomspace Group AB

The Company’s business operations are mainly conducted through the wholly-owned Danish subsidiary, GomSpace A/S, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The Company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB is the Company’s Certified Adviser. For more information, please visit our website on www.gomspace.com.

Miscellaneous    

This information is information that GomSpace is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, 11:00 a.m. CET on December 13, 2017.

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