Luxembourg and Sydney-based company Kleos Space has successfully closed $11 million in funding and will begin trading on the Australian Securities Exchange.
Luxembourg 28 May 2018- Luxembourg-based Kleos Space, state-of-the-art space technology operator which will launch and operate its first earth observation satellite system by mid 2019, finalizes administrative technicalities to be ready for the upcoming ambitions for listing on the ASX (Australian Stock Exchange) with the change of its legal form. The private limited liability company changes into Kleos Space S.A., a public limited liability legal form which allows the company to freely transmit shares and a mandatory administrative step in view of the upcoming IPO.
With a constellation goal of 20s satellite systems in low earth orbit, Kleos Space S.A, will as ofn2019 observe the Earth, capturing data currently “hidden “ from detection, data on “passive” radio transmissions without AIS, GPS or VMS protocol which will be used for answering real societal challenges, security and for defence purposes.
Kleos Space’s accessible and commercial solutions respond to the world’s countries concerns with regards to surveillance, intelligence gathering and defence issues. Until 2020, the European Commission will allocate €590 million to the European Defence Fund making the EU one of the biggest defence research investors in Europe. In only 18 months, it will provide a relevant solution to urgent requests. With its first satellite constellation the young company will demonstrate its technical predominance and proof of concept by providing accessible, raw data.
Kleos Space S.A. launches at a time where governmental entities realise that private corporations with their binary approach -succeed or fail- are providing faster access to data and the markets,optimizing time and costs dramatically and providing additional layers of information to existing governmental information.
Today NASA purchases Earth science data from commercial smallsat systems and private companies, such as Kleos Space S.A. are penetrating sectors traditionally monopolized by government sources like Defence.
As the first satellite system is getting ready to be rolled out, Kleos Space is nurturing its offer to suit the needs of the NATO, 5 eyes, , European Commission, South-American regions which are typically investing into maritime projects and African countries who are keen to engage providers of border surveillance data.
About Kleos Space S.A.
Kleos Space S.A. 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.