STOCKHOLM, November 16, 2017 /PRNewswire/ -- Aerial & Maritime Ltd ("A&M") an associated company of GomSpace Group AB ("GomSpace" or the "Company") has secured an additional investment of 5,0 million USD from a group of investors to scale up the nanosatellite network. A&M has now secured a total funding of 12,2 million USD.
A&M is the first spin-out project from GomSpace which have now attracted further investment. This is a proof that the Company can enhance the value creation of GomSpace by developing first mover service applications based on nanosatellites.
A&M is a global data provider and the company's satellites will be capable of monitoring civilian aircraft and vessels based on reception of ADS-B and AIS-signals, respectively. The additional investment will secure an expansion of the constellation from 4 to 8 nanosatellites. This investment also secures A&M a solid foundation from which it can accelerate the development of its plans to scale the service offering from equatorial coverage starting in 2018 to a full global coverage with an estimated total of 80 nanosatellites in different orbits by 2021.
For more information, please contact:
Niels Buus (CEO)
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.
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, 3:45 p.m. CET on November 16, 2017.
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SOURCE GomSpace A/S