GomSpace is incubating a new subsidiary in Mauritius for tracking commercial aircrafts and merchant ships in the equatorial region
On November 14, 2016, GS Sweden AB (the “Company” or “GomSpace”) has registered a new subsidiary – Aerial & Maritime Ltd. The company has been incorporated in Mauritius.
The object of Aerial & Maritime Ltd (“A&M”) is to own and operate a constellation of nanosatellites to be launched into a low-inclination Equatorial orbit. The satellites will be capable of monitoring the whereabouts of civilian aircraft and sea vessels in an area spanning from 37 Degrees Northern to 37 Degrees Southern Latitude using ADS-B and AIS signals respectively.
“On several occasions we have seen, that it has been impossible to find missing aircraft, when they disappear from the airspace,” says Niels Buus, CEO, GomSpace. ”With the A&M tracking service, the national authorities will know where and when an emergency occurs with an aircraft. The service will also make it possible for nations to correctly bill airline companies for overflight of their countries. Especially the African states are failing to obtain millions of dollars every year from the airline companies. With this service, they will all be able to incur this revenue for the better of their nations.”
The satellites will be designed, manufactured, launched and commissioned by GomSpace ApS and will carry a payload capable of monitoring ADS-B signals from aircrafts and AIS signals from sea vessels. GomSpace experience is based on the GOMX-1 and GOMX-3 flight experiences with ADS-B airline tracking, performed in December 2013 and during 2015/16 respectively. GomSpace and A&M are negotiating a turn-key contract.
The establishment of the new subsidiary does not entail any direct costs for the Company at this stage other than contribution of the share capital. On June 16, 2016, GomSpace and the Danish Investment Fund for Developing Countries (“IFU”) entered a Letter of Binding Commitment (“LBC”) regarding establishment of A&M. IFU and GomSpace are at this moment negotiating an investment agreement on the basis of the LBC.
Aerial & Maritime will have its first operational subsidiary in Accra, Ghana. The official registered address will be in Port Louis, Mauritius.
For more information, please contact:
Niels Buus (CEO)
Tel: +45 40 31 55 57
Email: nbu @ gomspace.com
About GS Sweden AB
The Company’s business operations are conducted through the wholly-owned Danish subsidiary, GomSpace ApS, 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.
The information was submitted for publication, through the agency of the contact person(s) set out above, at 13:00 CET on 14 November 2016.
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