NewSat Limited (ASX: NWT), Australia’s satellite company, is pleased to advise of the successful completion of the Jabiru-1 Preliminary Design Review (PDR) by Lockheed Martin as announced on 18 June 2012. This is a major milestone for the Jabiru-1 Program’s development and a significant step towards the launch of NewSat’s next generation Ka-band satellite.
Adrian Ballintine, NewSat Founder and CEO said: “Lockheed Martin is a global powerhouse in the world of space manufacturing and we are pleased to announce the completion of another significant milestone on the path to Jabiru-1’s 2014 launch. We would also like to thank Lockheed Martin for its continued support through the export credit agency funding process with the US Ex-Im Bank.”
During the five-day PDR, representatives from Lockheed Martin Commercial Space Systems (LMCSS) and NewSat thoroughly reviewed the spacecraft’s design and advanced capabilities. The completion of the PDR milestone demonstrates that the design meets NewSat’s critical requirements to provide high-powered satellite capacity to enterprise and government customers, and advances the Jabiru-1 program into the Critical Design Review (CDR) phase.
Joseph Rickers, Lockheed Martin Commercial Space Systems President said: “Throughout the week-long intensive design review, Lockheed Martin has demonstrated that the preliminary system design of Jabiru -1 is complete and the satellite is on track for an on-time delivery. The Preliminary Design Review milestone validates the Jabiru-1 program team’s progress to plan, as well as NewSat and Lockheed Martin’s excellent teamwork.”
LMCSS commenced construction of the Jabiru-1 satellite at its Newtown, Pennsylvania, USA facility in January 2012. The Jabiru-1 satellite utilises the A2100 spacecraft platform and will feature 50 Ka-band high-powered transponders configured in a variety of spot beams, regional beams and steerable beams to provide flexible communication solutions for a range of diverse applications. The satellite has been designed for a minimum service life of 15 years, with a total payload of 8.3 GHz and will provide 7.6 GHz of “new” Ka-band capacity to high demand regions over the Middle East, South Asia and Africa.
David Ball, NewSat CTO said: “It is very exciting to be a part of such an innovative satellite project with Lockheed Martin. The design of the Jabiru-1 satellite is based on Lockheed Martin’s proven A2100 spacecraft platform, configured with a range of flexible beam options. Jabiru-1’s advanced communications offering enables NewSat to provide truly customer-focused solutions to our enterprise and government clients.”
Jabiru-1’s construction is on schedule for launch in 2014 with Arianespace.
“The Jabiru-1 satellite project continues to track to plan. The PDR is now complete, binding pre-launch customer contracts have topped US$600 million and financial close is expected in late July,” Mr Ballintine said.
NewSat Limited (ASX:NWT), Australia’s satellite company, announces today that it has secured an equity funding commitment for $7.5 million with strategic international investors.
The funds raised form the completion of the Rights Issue the company announced in December 2011 being placement of the short fall as permitted under Exception 3 of Listing Rule 7.1 and have been placed at 60 cents, the same terms as the $20 million announced to the market on 20 February 2012.
The Directors advise the market that this is the final equity placement to occur on the equivalent terms of the December 2011 Entitlement Offer.
The capital will be used to fund progress payments to satellite builder, Lockheed Martin.
The build of the Jabiru-1 satellite is on schedule 4 months into the construction process and the company remains on track to complete the financing commitment of Jabiru-1 in the next quarter.
During SATELLITE 2012 in Washington DC, NewSat finalised the agreement with Arianespace for the launch service of Jabiru-1. In a signing ceremony on the 14th of March, the Chairman and CEO of Arianespace, Jean-Yves Le Gall, expressed his enthusiasm for the project and his appreciation to NewSat for choosing Arianespace.
The finalisation of this contract updates the previous launch reservation agreement announced on the 8th of December 2011. Jabiru-1 is to be launched by an Ariane 5 launch vehicle in the 4th quarter of 2014 and will launch from the Guiana Space Centre. The Guiana Space Centre Space is Europe’s Spaceport in French Guiana located at the top of South America.
Jabiru-1 is currently under construction by Lockheed Martin Commercial Space Systems. Jabiru-1 will be fitted with 50 Ka-band transponders delivering high-powered capacity to meet the growing demands from government and enterprise sectors across the Middle East, Asia and Africa.