Space SURGE Wins EU Contract to Build and Operate IRIS2 Satellite Network
by Erica Marchand
Paris, France (SPX) Nov 03, 2024
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Space SURGE, a consortium entailing Eutelsat (ISIN: FR0010221234 – Euronext Paris/ London Stock Exchange: ETL), Hispasat, and SES (Ticker: SESG), has really 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 a necessary enchancment in defending a gradual and self-governing interactions community for Europe.
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. IRIS2 intends to strengthen Europe’s sturdiness, increase digital sovereignty, and provide low-latency connection all through all EUMember States The multi-orbit satellite tv for pc system is created to react to conditions, safe important framework, and help shut the digital divide. Scheduled to be completely useful within the very early 2030s, IRIS2 will definitely work as a sturdy and secure and safe interactions basis that straightens with the essential and digital passions of the European Union.
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.The IRIS2 program will definitely be provided as a public-private collaboration (PPP), funded through a mixture of EU financing, the European Space Agency, and monetary investments from the financial sector, consisting of funds from the three satellite tv for pc drivers within the Space enhance consortium.
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.The consortium is planning for the final stage of the acquisition process, with settlement trademark anticipated by the tip of this yr.
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. 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.”
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.Miguel Angel Panduro, Chief Executive Officer of Hispasat
, included:”We are firmly dedicated to every part that IRIS2 represents: a sovereign safe communications system, supported by European modern developments and pushed by public-private partnership. It is an bold venture, during which the businesses of the SpaceRISE consortium are working to supply the very best response to the calls for of the European Union. This award is an thrilling first step of a venture that may outline the way forward for satellite tv for pc communications in Europe.”
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. Adel Al – Saleh, Chief Executive Officer of SES, acknowledged: “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.”
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