Elecnor completes the export of its two Earth observation satellites to the Canadian company UrtheCast for EUR 76.4 million
The sale of the Deimos-1 and Deimos-2 satellites was agreed on 22 June as part of a strategic alliance with UrtheCast that sees Elecnor become a partner of the Canadian company's international "Constellation" programme
This deal strengthens Elecnor Deimos' position as a leading player in satellite construction and integration and gives it a presence in new segments of the space sector.
Madrid, 16 July 2015.- Elecnor, via its technology division Elecnor Deimos, has completed the export of its Deimos-1 and Deimos-2 Earth observation satellites to the Canadian company UrtheCast as part of a deal worth EUR 76.4 million.
The sale agreement for the two satellites was signed on 22 June as part of a strategic alliance with the Canadian company UrtheCast for joint projects in the aerospace sector. The deal was originally expected to be completed by 21 August.
This transaction further strengthens Elecnor Deimos' position in the aerospace sector, where it now has an established presence throughout the space mission value chain. This includes the design, integration, validation, launch, operation and commercial exploitation of Earth observation satellites and the development of Earth observation space systems for third parties.
This major export of leading-edge Spanish technology is testament to Elecnor's technological and industrial expertise and brings to a successful conclusion the journey embarked upon ten years ago when the initial engineering research on both satellites commenced, making this innovative business model unique within Spain's aerospace industry. In fact, it is the first transaction of its kind involving a Spanish company in an industry hitherto dominated by French, Italian, British and South Korean enterprises.
The effective completion of the deal further strengthens Elecnor Deimos' position as a leading player in satellite construction and integration for the domestic and international market. The Group is also leveraging the momentum from this agreement to enter new space sector markets.
The agreed alliance between Elecnor Deimos and UrtheCast will see the companies work together on opportunities of common interest. Elecnor is now a strategic partner of UrtheCast's “Constellation” programme, the aim of which is to develop the world’s first fully-integrated, multispectral optical and Synthetic Aperture Radar (SAR) commercial constellation of Earth observation satellites. Specifically, the Spanish company will collaborate in the areas of mission control, direct tasking and receive ground stations, mission analysis and flight dynamics, and in the integration and testing of the SAR payloads in the clean room of the Satellite Assembly and Operations Centre in Puertollano (Ciudad Real).