AAC Clyde Space AB

Logotype for AAC Clyde Space AB
Ticker/ISIN
AAC
SE0021020716
Marknad/Land
SE
Sweden
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Senaste sammanfattade pressmeddelande

AAC Clyde Space AB announced the successful two-way VDES communications through its satellite Ymir-1, as part of the AOS collaborative project with Saab and ORBCOMM. This milestone enhances maritime communication and navigation infrastructure, enabling global ship-to-ship and ship-to-shore communication, even in remote areas. Unlike AIS, VDES offers bidirectional communication and greater bandwidth, supporting larger data volumes and improved real-time data exchange and cybersecurity. Ymir-1 uses Saab's R6 VDES PAYLOAD transponder, and ORBCOMM will manage data integration for maritime services. AAC Clyde Space specializes in small satellite technologies and aims to lead in commercial small satellites and services. The company operates in several countries and its shares are traded on Nasdaq First North Premier Growth Market and the US OTCQX market.
AAC Clyde Space has appointed Håkan Tribell as the Head of Communications for Investor Relations and Public Affairs, a newly established position. CEO Luis Gomes emphasized that Tribell's expertise in communications and stakeholder relations will support the company's growth as a New Space entity. Tribell has a background in communications and public affairs, having worked at the Stockholm Chamber of Commerce and for Swedish Prime Minister Ulf Kristersson. He expressed enthusiasm about contributing to the company's impact on environmental issues through satellite data. Tribell will start his role on January 7, 2025, based in Uppsala, Sweden. AAC Clyde Space specializes in small satellite technologies, offering services in Space Data as a Service, space missions, and space products. The company operates in several countries and aims to lead in the commercial small satellite market. Its shares are listed on Nasdaq First North Premier Growth Market and the US OTCQX market.
AAC Clyde Space AB has registered 188,000 new shares as part of its acquisition of Spacemetric AB, increasing its total shares to 5,891,835. The acquisition was finalized on October 1, 2024. The company issued these shares and 106,800 warrants to Spacemetric's shareholders, increasing AAC Clyde Space's share capital by SEK 589,600, contingent on meeting earn-out milestones and warrant exercises. The new shares are under lock-up agreements, with varying durations of 360, 630, and 810 days, while shares from exercised warrants have a 360-day lock-up. AAC Clyde Space, which focuses on small satellite technologies and services, operates globally and trades on Nasdaq First North Premier Growth Market and the US OTCQX market. For more details, refer to the press release on their website.
AAC Clyde Space AB has secured a EUR 0.5 million order for its Starbuck power system and related services, with delivery expected by the third quarter of 2025. CEO Luis Gomes highlighted the Starbuck power system's role as a standard for small satellites, emphasizing the benefits of component standardization. The client, a repeat customer, remains unnamed. AAC Clyde Space specializes in small satellite technologies and offers services in space data, space missions, and space products. The company aims to lead the commercial small satellite market and operates in several countries, with shares traded on Nasdaq First North Premier Growth Market and the US OTCQX-market.
AAC Clyde Space AB has completed the acquisition of 100% of Spacemetric AB's outstanding shares, expanding the AAC Group. The transaction involved issuing 188,000 shares and 106,800 warrants to Spacemetric's shareholders, increasing AAC Clyde Space's share capital by SEK 589,600, subject to earn-out milestones and warrant exercises. The new shares are under lock-up agreements for varying durations. CEO Luís Gomes welcomed Spacemetric's team, highlighting their role in enhancing Earth Observation operations. More details are available in the press release from 3 July 2024 on AAC Clyde Space's website. AAC Clyde Space specializes in small satellite technologies and services, aiming to become a leader in commercial small satellites and space services. Its operations span Sweden, the UK, the Netherlands, South Africa, and the USA, with partner networks in Japan and South Korea. The company's shares are traded on Nasdaq First North Premier Growth Market and the US OTCQX market.
AAC Clyde Space AB has secured a EUR 1.025 million order for four Starbuck power systems and related services, with delivery expected by the second quarter of 2025. The client for this order remains undisclosed. AAC Clyde Space specializes in small satellite technologies and services, aiming to be a global leader in commercial small satellites. The company operates in Sweden, the UK, the Netherlands, South Africa, and the USA, with additional partnerships in Japan and South Korea. Its shares are traded on Nasdaq First North Premier Growth Market and the US OTCQX market. For more information, visit their website or contact their CEO or CFO.
AAC Clyde Space AB has announced that the Arctic Weather Satellite has successfully captured its first images using an innovative scientific weather payload supplied by the company. These images, which show atmospheric temperature and humidity, aim to enhance short-term weather forecasts globally, especially in the Arctic. The satellite, launched on August 16 and currently being commissioned by OHB Sweden, features a cross-track scanning microwave radiometer made by AAC Omnisys. This mission, led by ESA with OHB as the prime contractor, seeks to demonstrate the feasibility of a polar-orbiting satellite constellation for improved weather forecasting. The mission is a prototype that may lead to a full constellation for more frequent measurements, surpassing the capabilities of current geostationary satellites. AAC Clyde Space specializes in small satellite technologies and services, offering data from space, turnkey space missions, and a range of space products and components. The company aims to be a leader in commercial small satellites and space services, with operations in Sweden, the UK, the Netherlands, South Africa, and the USA, and partner networks in Japan and South Korea. Its shares are traded on Nasdaq First North Premier Growth Market and the US OTCQX market. For more information, visit www.aac-clyde.space or contact CEO Luis Gomes and CFO Mats Thideman.
AAC Clyde Space AB has secured a USD 0.69 million order for reaction wheels from a US blue-chip company, following a similar order in February 2023. The order includes flight and engineering models, as well as flight testing, and is expected to be delivered by the fourth quarter of 2025. Reaction wheels are used for three-axis attitude control in satellites. AAC Clyde Space specializes in small satellite technologies and services, with operations in multiple countries and shares traded on Nasdaq First North Premier Growth Market and the US OTCQX-market. For more information, visit their website or contact CEO Luis Gomes or CFO Mats Thideman.

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Nyhetsuppdatering från AAC Clyde Space AB

Report: Interim report for AAC Clyde Space AB (publ) January - June 2024

AAC Clyde Space AB reported a 29.4% decrease in net sales for Q2 2024 compared to Q2 2023, with sales amounting to SEK 53.6 million. The EBITDA was SEK -16.5 million, and the total loss after tax was SEK -27.5 million. The order backlog increased to SEK 660 million. For the first half of 2024, net sales decreased by 16.6% to SEK 125 million, with an EBITDA of SEK -3.8 million. Key events in Q2 2024 included leading a consortium to develop a laser communication system, winning its first order for a 16U EPIC satellite, and receiving an order for its CubeCAT laser communication terminal. AAC Clyde Space also announced the creation of a laser satellite communications hub in the Netherlands and completed successful tests with the Ymir-1 satellite. After the reporting period, AAC Clyde Space agreed to acquire Spacemetric AB and secured an order for the Cyclops Earth observation satellite constellation. CEO Luis Gomes highlighted challenges such as supplier delays and project timing issues but expressed optimism due to a growing order backlog and new strategic contracts. The company maintains its year-end guidance for net sales between SEK 350 million and SEK 400 million and expects a positive EBITDA of 5% to 10%.

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Press Release: AAC Clyde Space secures its first customer for Cyclops Earth Observation constellation

AAC Clyde Space AB has secured its first order for the Cyclops Earth observation satellite constellation through a pre-commercial agreement worth GBP 612,000 with the Scottish Government. The project, set to begin in Q3 2024 and run until Q3 2026, involves four satellites manufactured under the xSPANCION project. These satellites will provide high-resolution image data for applications such as monitoring tree health. The initiative stems from a challenge under CivTech 9, the Scottish Government's innovation program. The agreement will focus on integrating image data into Scottish Forestry's GIS and operations, with data delivery expected to start in 2025. The Cyclops constellation will feature the first 16U satellites by AAC Clyde Space and a new generation of EPIC VIEW satellites. Manufacturing of the first two satellites is in progress, with the first launch planned for the first half of 2025. Post-launch, AAC Clyde Space aims to sell data globally at lower costs. The company specializes in small satellite technologies and services, with operations in multiple countries and shares traded on Nasdaq First North Premier Growth Market and the US OTCQX-market.

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Press Release: AAC Clyde Space to acquire Spacemetric AB

AAC Clyde Space has agreed to acquire 100% of Spacemetric AB for approximately MSEK 16, with potential additional earn-outs up to MSEK 9, totaling a maximum of MSEK 25. This acquisition aims to enhance AAC Clyde Space's capabilities in Earth Observation image processing for analytics and AI, which will be integrated into their Cyclops constellation. The transaction includes a mix of cash and shares, with post-closing adjustments based on net working capital. The deal is subject to approval under the Swedish Protective Security Act and is expected to close in Q3 2024. The shares issued will have lock-up periods ranging from 360 to 810 days. PwC and Setterwalls Advokatbyrå AB are advising AAC Clyde Space on the transaction.

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Press Release: AAC Clyde Space wins first order on laser communication terminals

AAC Clyde Space AB has received its first commercial order for its CubeCAT laser communication terminal from Greek company EMTECH SPACE S.A., valued at EUR 0.6 million. The order is for the Hellenic Space Dawn mission, funded by the Greek Ministry of Digital Governance and supported by the European Space Agency (ESA). CubeCAT, developed in partnership with FSO Instruments, is designed for nano satellites and offers significant advantages over traditional radio-frequency communication, including higher transmission capabilities and enhanced security. This marks a significant milestone in the commercialization of laser communication technologies for space data transmission.

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Press Release: Bulletin from the Annual General Meeting in AAC Clyde Space AB (publ)

At the annual general meeting of AAC Clyde Space AB on 23 May 2024, several resolutions were adopted. The income statements and balance sheets for 2023 were approved, and it was decided that no dividend would be paid for that year. The board of directors was granted discharge of liability for 2023. The board will consist of six members, with Rolf Hallencreutz re-elected as chairman and Stuart Martin and Michael Mattsson elected as new members. The auditing firm PwC was re-elected as the company's auditor. The board was authorized to increase the share capital by up to 20% by the next annual meeting. Warrants were issued under three incentive programs for employees and board members. Changes were made to the remuneration guidelines for senior management.

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Press Release: First data collected by Ymir-1 satellite payload

AAC Clyde Space's satellite, Ymir-1, has successfully completed two tests, collecting high-quality AIS signals from over 6,000 vessels using its VDES payload. This marks a significant step towards the satellite becoming fully operational. The tests were part of the AOS project, a collaboration between AAC Clyde Space, Saab, and ORBCOMM, aiming to develop a next-generation space-based VDES system for efficient and reliable data exchange and communication for vessels at sea. AAC Clyde Space provided an EPIC LINK CubeSat hosting Saab's advanced R6 VDES PAYLOAD transponder for two-way communication between satellite and ground. ORBCOMM will integrate the data into its distribution center for maritime navigation and communications service deployment.

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Press Release: AAC Clyde Space and partners create hub for laser communications in the Netherlands

AAC Clyde Space, in partnership with Dutch TNO and FSO Instruments, is developing a hub for laser satellite communications in the Netherlands. The partnership aims to establish a European ecosystem for laser satellite communication. AAC Clyde Space will deliver a next-generation compact, low-cost, laser system capable of transmitting data from space at a speed of up to 10 Gbps, several times faster than current systems. AAC Clyde Space has also gained a licensing agreement to use TNO's laser communication terminal technology and entered a memorandum of understanding with FSO Instruments for joint support in manufacturing and marketing. The technology will enable 100 to 1000 times more data to be transmitted to Earth than current radio frequency systems and offer a more secure option.

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Report: Interim report for AAC Clyde Space AB (publ) January - March 2024

AAC Clyde Space reported a decrease in net sales by 3.5% to SEK 71.4 M in Q1 2024 compared to Q1 2023. However, EBITDA increased to SEK 12.7 M, largely due to an insurance payout of SEK 12.6 M for an under-performing satellite. The total loss after tax was SEK -3.2 M, an improvement from SEK -6.4 M in Q1 2023. The order backlog amounted to SEK 654.2 M. During Q1 2024, AAC Clyde Space received an insurance claim payment of SEK 13.5 M for the satellite Kelpie-1. The company also won a SEK 56.2 M order for 11 satellite kits from LusoSpace, and AAC Clyde Africa won its first satellite order valued at SEK 2.3 M. AAC Clyde Space was involved in the Intuitive Machines Nova C cargo lander mission and secured a SEK 9.9 million order for its Sirius range of computers and services. Post reporting period, the company was appointed to lead a consortium to develop a laser communication system valued at SEK 40.4 M and won its first order for its 16U EPIC satellite with a total order value of SEK 27.0 M. CEO Luis Gomes commented on the financial results and the company's growth, highlighting new contracts, organisational changes, and the company's focus on customer delivery and growth.

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Press Release: AAC Clyde Space wins SEK 27.0 M order for 16U satellite

AAC Clyde Space has received its first order for its 16U EPIC satellite, valued at EUR 2.3 M (approx. SEK 27.0 M), to be delivered and commissioned by June 2026. The satellite will be part of the ESA OPS-SAT VOLT mission, led by Craft Prospect Ltd., under ESA's ARTES Scylight programme. The mission aims to test real-time techniques and technologies for optical and quantum direct-to-earth communication. The satellite will host multiple payloads and will be used for demonstrations including quantum key delivery, optical communications, and hyperspectral imagery capture for climate resilience applications.

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Press Release: AAC Clyde Space leads consortium to develop laser communication system valued at SEK 40.4 M

AAC Clyde Space's subsidiary, AAC Hyperion, along with partners FSO Instruments and TNO, will develop the next generation of laser communication terminals for small satellites. The project, set to be completed by Q3 2026, will deliver a compact, low-cost laser system capable of transmitting data from space at speeds of up to 10 Gbps. The project is valued at EUR 3.5 million, with EUR 1.9 million co-funded by the Dutch National Growth Fund program NXTGEN HIGHTECH through the Netherlands Space Office. The remaining EUR 1.6 million will be funded by AAC Hyperion and its partners. Laser communication technologies are increasingly being used to send data from satellites directly to earth, avoiding the limitations of standard radio frequency communication technologies.

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