IoT Focused Satellite Company Astrocast Contemplating a Listing on Euronext Growth
Astrocast is one of the leading emerging satellite operators in Europe. The company’s global Satellite IoT network allows customers to expand their Internet of Things (IoT) strategy to remote regions of the world.
The company, which benefits from the financial backing of leading corporate and venture capital funds including US based Adit Ventures, Airbus Ventures, Swiss family offices as well as the European Space Agency, has appointed European investment bank Bryan, Garnier & Co as global coordinator for the transaction.
The company is evaluating with its advisors a potential direct listing of 30 percent to 40 percent of its shares, pursuant to a private placement of newly issued shares extended to qualified international institutional investors, as well as strategic corporate investors, in what would be the first listing of an IoT dedicated satellite constellation. The listing could occur as soon as Q3 of this year.
“Astrocast is recognised as one of the pioneers, and one of the most advanced companies in the world tackling the issue of low-cost global connectivity for the IoT, which is the roadblock for a massive expansion of the market. A listing on a European stock market would represent a major step for the company as we are now accelerating the deployment of our constellation,” said Astrocast CFO Kjell Karlsen.
Pioneering the satellite based IoT connectivity market
Astrocast has developed a complete end-to-end communication solution for the IoT market, including satellites, communications platform, and modules (receivers). The satellites operate in the L-band spectrum, they can provide two-way communication and the terminals are designed with a favourable form factor as well as utilizing smaller antennas, opening for a whole new set of use cases such as environmental, maritime, logistics and agricultural applications.
Astrocast’s global service currently consists of seven operational satellites with additional five satellites to be launched by SpaceX by end of June 2021. Proceeds from the private placement will help funding the expansion of this network to a total of 100 satellites in orbit by end 2024.
After a successful pilot phase last year, Astrocast launched its commercial operations in May of this year. Two months later, the company is rolling out its first 20 customers, spread over three continents, and filling up its sales order book at rapid pace.
Nomination of non-executive Directors
As part of its plans to grow and invest in additional satellite communication capacity and also become a publicly traded company, two new board members have been nominated for election.
Jon Cholak is Co-Founder and Managing Director of Adit Genesis, Adit Ventures’ early-stage investment vehicle. Adit Genesis’ goal is to find world-class early-stage companies that will shape the next generation of technology innovation and development. Genesis invests in Seed, Series A and Series B stage companies across a variety of sectors. Its track record includes early-stage investments in global brands such as Klarna, Airbnb, Spotify, and SpaceX.
Jan Eyvin Wang is a former CEO of Wilh. Wilhelmsen ASA, one of Norway’s largest shipping companies. He is currently non-executive director in several of the companies in the New Energy Division in the Wilhelmsen group as well as CrayoNano, a next generation semiconductor company.
Astrocast SA is the most advanced global Nanosatellite IoT Network to tackle challenges in industries such as Agriculture & Livestock, Oil, Gas & Mining, Maritime, Environmental, Connected Vehicles, and IoT Devices. The Astrocast Network enables companies to monitor, track, assess, and communicate with critical remote assets from anywhere in the world. In partnership with Airbus, CEA/LETI, the European Space Agency, and Thuraya, Astrocast developed Astronode S, a cutting-edge terminal featuring low profile L-band antenna, ultra-low power consumption, and a small form factor. Founded in 2014 by a renowned team of experts, Astrocast designs, builds, and tests all of its products in-house, from the satellites to the terminals. The Astrocast Network will consist of 100 Low Earth Orbit (LEO) nanosatellites. http://www.astrocast.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Bob Slinn Joins FunPlus Senior Leadership Team as Vice President of Business Development4.8.2021 17:15:00 CEST | Press release
FunPlus, a leading independent mobile game developer and publisher, today announced that Bob Slinn has been appointed as Vice President of Business Development for the company. As a member of the company’s senior leadership team headquartered in Switzerland, Slinn will report to Chief Business Officer Chris Petrovic and be responsible for leading the company’s Western market strategic business development efforts. These efforts will include managing and expanding FunPlus’ growing list of global IP partners and deepening the company’s platform relationships, as well as leading developer relations efforts in support of the company’s ongoing strategic investment and M&A activities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210804005425/en/ Bob Slinn Joins FunPlus Senior Leadership Team as Vice President of Business Development (Photo: Business Wire) “We’re delighted to welcome Bob to the team in a leadership role that is t
Tigo Energy Unveils Energy Intelligence Platform to Simplify Fleet Management4.8.2021 16:00:00 CEST | Press release
Tigo Energy, Inc., the solar industry’s worldwide leader in Flex MLPE (Module Level Power Electronics), today unveiled its Energy Intelligence (EI) Solution, a comprehensive digital platform designed to optimize the installer experience around commissioning, monitoring, and maintaining fleets of solar installations. For solar installers, operations and maintenance represents a significant and ongoing burden due to the lack of visibility to the module-level information. Tigo EI quickly identifies issues that increase truck rolls, undermine energy output, and undercut the economic success of said installations. EI also delivers the tools to decrease operation and maintenance costs, increase system performance and revenue, and improve the user experience for both installers and customers. The platform also simplifies the commissioning process by providing greater system visibility and information to end installers and EPCs. “Fleet management technology is the next key enabler in renewable
Avex Releases 100% Hemp Cloth T-shirt4.8.2021 16:00:00 CEST | Press release
Avex Entertainment Inc. began limited sales from July 30 of the T-shirts from a Japanese fabric brand "majotae" (pronounced "ma-yo-tah-e") on its official website, using hemp*1, the natural, sustainable material that is gaining attention globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210804005064/en/ 100% hemp cloth T-shirt made by majotae (Photo: Business Wire) By maximizing the company's knowhow in creating entertainment contents, Avex shares with the world a new concept in sustainability—hemp cloth, which combines both comfort as clothing, and earth-friendly, ecological aspects. Avex is cultivating a brand new field of business that creates moving experiences beyond the field of entertainment. About majotae Majotae is a brand that utilizes modern technology to resurrect the true texture of the hemp cloth that Japanese people have used since ancient times. The greatest feature of "majotae" is its realization of a
Q4 Launches Suite of ESG Communications Products4.8.2021 15:00:00 CEST | Press release
Q4 Inc. (Q4), a leading capital markets communications platform, announced the first phase of new products that standardize how public companies can deliver information regarding their environmental, social and governance (ESG) efforts. At a time of extensive data collection, heightened investor emphasis and mounting regulatory mandates around ESG disclosure, public companies are challenged with what and how best to communicate their social impact and sustainability programs. Similarly investors are taxed with distilling the vast amount of ESG-related information relevant to their investment criteria. In its fundamental commitment to ESG, both as an organization and on behalf of its clients, Q4 has introduced the first of several new offerings that enable public companies to effectively tell their ESG story in a format that makes it easier for investors to consume. Working in tandem with its leading clients, Q4 has established a set of best practice, industry-focused templates for corp
Enedym, Inc. Announces Two New Appointments To Board of Directors4.8.2021 14:00:00 CEST | Press release
Enedym, Inc. (“Enedym”), the technology company thatdevelops next generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains, announced today that it has appointed Robert Lee, former Vice President of Engines, Electrified Propulsion, and Advanced Powertrain Engineering at Fiat Chrysler Automobiles (FCA) and Ron Harper, President and CEO of JFE Shoji Power Canada Inc., to its board of directors. "We are so pleased to welcome Bob and Ron as new directors to Enedym’s board," said Ali Emadi, Founder, President, and CEO of Enedym. "They join Enedym at an exciting time as we expand our operations and development capabilities in order to continue to transform the electric motor and electrified powertrain sector. Bob’s deep experience in the global automotive sector will bring valuable experience to our rapidly growing automotive electrification business. Ron’s expertise in manufacturing and supply chain management will be valuable in developing Enedym’s eme
yellow.ai Raises $78.15M to Deliver Total Customer Experience Automation4.8.2021 13:33:00 CEST | Press release
yellow.ai, the world’s leading customer experience (CX) automation platform, trusted by 700+ enterprises globally, today announced it has raised $78.15M in Series C, led by WestBridge Capital along with Sapphire Ventures, and Salesforce Ventures. Lightspeed Venture Partners again participated in this round, which brings total funding raised so far to $102.15M. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210804005587/en/ Raises $78.15M to Deliver Total CX Automation (Graphic: Business Wire) yellow.ai enables enterprises to leverage its proprietary NLP engine and platform to build chatbots and voice bots, in 100+ languages, across 35+ channels that automate functions like Customer Support, Customer Engagement, Conversational Commerce, and Employee Experience. The platform comes pre-integrated with enterprise applications like Salesforce, Shopify, Cisco, Avaya, SharePoint, and 100 more. Since its prior funding round, yellow.
ANYbotics Boosts Autonomous Mobile Robots with Velodyne Lidar Sensors4.8.2021 12:48:00 CEST | Press release
Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced ANYbotics is equipping its autonomous mobile robots with Velodyne’s Puck™ lidar sensors. ANYbotics robots provide industrial operators with an automated robotic inspection solution to support efforts in monitoring and maintaining plants. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210804005237/en/ Equipped with Velodyne Lidar’s Puck™ sensors, ANYbotics’ four-legged robot ANYmal performs inspection and monitoring tasks in challenging industrial terrains such as mining and minerals, oil and gas, chemicals, energy and construction. (Photo: ANYbotics) ANYbotics’ four-legged robot ANYmal performs inspection and monitoring tasks in challenging industrial terrains such as mining and minerals, oil and gas, chemicals, energy and construction. ANYmal’s legs provide unparalleled mobility when moving up and down stairs, climbing over obstacles, steps and gaps, and crawling in
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom