STOCKHOLM, March 1, 2018 /PRNewswire/ -- GomSpace A/S - a subsidiary of GomSpace Group AB (the "Company") - has received an Authorization To Proceed (the "ATP") from Kleos Space S.à.r.l ("Kleos") on a contract to deliver Kleos' first satellite system. The ATP means that GomSpace is authorized by Kleos to kick-off the initial part of the project. The value of the ATP is EUR 250,000. The value of the whole contract for the satellite system, expected to be closed in the second quarter of 2018, is approximately EUR 2.34 million. Subject to the final contract, the delivery of the satellite system is expected to take place in Q1 2019.
The Kleos satellite system, known as the "Scouting" mission and is planned to be launched in Q1 2019. Kleos aims to guard borders, protect assets and save lives by delivering global activity based intelligence & geolocation as a serice. The Scouting mission is to deliver a daily service with the full constellation delivering near-real-time global observation.
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 Kleos Space S.à.r.l
Kleos Space S.à.r.l is a Space enabled, Activity Based Intelligence, Data as a Service company based in Luxembourg. The company is also developing In-Space Manufacturing technology for near and long term commercial applications. It was recently announced that the company, a spin out of a UK Space Engineering company; Magna Parva plans to IPO on the ASX in Q2 2018. For more information please visit: www.kleos.space.
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, 3:30 p.m. CET on March 1, 2018.
For more information, please contact:
Niels Buus (CEO)
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SOURCE GomSpace A/S