GomSpace A/S and Aerial & Maritime Ltd. enters Settlement Agreement and cancel spin-out project
GomSpace (GS) and Aerial & Maritime (A&M) have agreed on a settlement and release of any potential claims and commitments of each party in connection with the original agreement from 2016. A&M was established as a spin-out project from GomSpace. The objective of A&M was to own and operate a constellation of nanosatellites to be launched into a low-inclination Equatorial orbit for monitoring the whereabouts of civilian aircraft and vessels. The main shareholders of A&M were GomSpace Group and the Investment Fund for Developing Countries (IFU). As a result of the settlement, the parties