Audacy achieves $100 million in commercial agreements
(1 October 2018 - Audacy) Audacy announced today that it had achieved a significant milestone by securing pre-service commercial agreements valued at over US$100 Million.
The companies represented in these agreements span across the globe and over a wide range of space applications including NGSO Earth Observation satellites, IoT and Broadband constellations, launch vehicles and deep space missions. More than half of the agreements are made with companies headquartered in the US. The remaining is split between Europe and Asia-Pacific, which includes countries like China, Japan, India, Australia and Singapore. Among the regions, Audacy’s biggest growth has been in Asia-Pacific where the company increased its exposure significantly with the opening of its Singapore office last year.
Space data demand in Low Earth Orbit (LEO) is growing dramatically; as many as 20,000 new satellites are projected to enter service in the next 5 years, and they will all need a method for transmitting data back to the ground. Much of the current growth in space communications is focused on expanding ground networks but because more than two-thirds of the earth is covered in water, spacecrafts can never achieve more than about 60% communications time, no matter the number of ground antennas built. Only space-based networks can achieve continuous coverage anywhere in LEO.
“Audacy’s space-based network allows operators to get real-time data in space, revolutionizing the way the world uses space data and enabling new applications. Achieving US$100 Million in pre-service agreements has exceeded our original projections by a significant margin and clearly validates that Audacy’s value proposition of always-on connectivity is a much-needed solution.” said Sreesh Reddy, Head of Business Development in Audacy’s US Office.
Audacy’s ground teleports will be available for commercial use in early 2019, and its relay satellites will enter commercial service in 2020.
Audacy is a space communications service provider focused on delivering continuous connectivity and space data in real time to owners and operators of satellites. With a spectrum license granted by the U.S. Federal Communications Commission (FCC) on 7 June 2018 and by deploying a network of MEO relay satellites and ground facilities, Audacy will provide the first commercially available inter-satellite data relay network, enabling seamless LEO coverage and always-on connectivity from ground to lunar orbit.