STOCKHOLM, June 18, 2018 /PRNewswire/ -- GomSpace A/S - a subsidiary of GomSpace Group AB (the "Company") and Aerial & Maritime Ltd. ("A&M") have signed a Memorandum of Understanding ("MOU") following A&M's decision to appoint GomSpace as the supplier of a global constellation of nanosatellites and ground segment systems.
Fully operational by the end of 2021 A&M is able to provide global Air Traffic Surveillance increasing safety and reducing fuel consumption to the airline industry, including air navigational service providers.The system shall deliver processed ADS-B signals – compliant with ICAO and EUROCAE requirements for air traffic management.
The terms and conditions of any future formal cooperation between the parties as to the subject matter of the MOU are yet to be negotiated and agreed upon. The parties expect to enter a formal turnkey contract in Q4 2018. The turnkey contract will have a value of up to 100 million USD.
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.
About Aerial & Maritime Ltd.
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. A&M is an affilitated company to GomSpace Group AB.
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, 8:00 a.m. CET on June 18, 2018.
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SOURCE GomSpace A/S