Space SURGE Wins EU Contract to Build and Operate IRIS2 Satellite Network
by Erica Marchand
Paris, France (SPX) Nov 03, 2024
.
Space SURGE, a consortium entailing Eutelsat (ISIN: FR0010221234 – Euronext Paris/ London Stock Exchange: ETL), Hispasat, and SES (Ticker: SESG), has actually been picked by the European Commission to develop, develop, and run IRIS2, the European Union’s enthusiastic brand-new multi-orbit connection system. This honor represents an essential improvement in protecting a steady and self-governing interactions network for Europe.
.
. IRIS2 intends to strengthen Europe’s durability, boost electronic sovereignty, and supply low-latency connection throughout all EUMember States The multi-orbit satellite system is created to react to situations, secure essential framework, and assist shut the electronic divide. Scheduled to be totally functional in the very early 2030s, IRIS2 will certainly work as a durable and safe and secure interactions foundation that straightens with the critical and electronic passions of the European Union.
.
.The IRIS2 program will certainly be supplied as a public-private collaboration (PPP), funded via a mix of EU financing, the European Space Agency, and financial investments from the economic sector, consisting of payments from the 3 satellite drivers in the Space increase consortium.
.
.The consortium is planning for the last stage of the purchase procedure, with agreement trademark anticipated by the end of this year.
.
. Eva Berneke, Chief Executive Officer
of
Eutelsat, commented: “The IRIS2 programme is a powerful extension of Eutelsat’s commitment to advancing Europe’s digital sovereignty through sustained investment in multi-orbit technology to deliver multi-layered, low-latency networks, which are essential to Europe’s strategic resilience. We are proud to support the EU on this project alongside the consortium partners to deliver a resilient, future-ready communication system that meets Europe’s most critical connectivity needs, while generating value-creation for Eutelsat and its stakeholders by complementing and enhancing our existing LEO capabilities.”
.
.Miguel Angel Panduro, Chief Executive Officer of Hispasat
, included:”We are firmly committed to everything that IRIS2 represents: a sovereign secure communications system, supported by European innovative developments and driven by public-private partnership. It is an ambitious project, in which the companies of the SpaceRISE consortium are working to offer the best response to the demands of the European Union. This award is an exciting first step of a project that will define the future of satellite communications in Europe.”
.
. Adel Al – Saleh, Chief Executive Officer of SES, stated: “Being selected as a trusted partner for IRIS2 is an honour. SpaceRISE, based on the European Union’s requirements, will define and develop a future-proof space network that will serve as the cornerstone of Europe’s space and defence strategies in the years to come. The IRIS2 system is aligned with SES’s multi-orbit network and underscores our commitment to advancing our MEO capabilities, as well as having access to LEO orbit. We will continue to ensure that the contract meets our IRR requirements, cash generation fundamentals, and investment grade metrics.”
. .
Related Links
SpaceRISE
Read the latest in Military Space Communications Technology at SpaceWar.com
