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Telesat has arrangements covering more than two-thirds of Lightspeed’s projected $5,000,000,000 cost.
Telesat committed to spending 50% of the cost to deploy a second-generation Lightspeed constellation in Canada, or 2.6 billion Canadian dollars if that amount is lower.
Telesat values the Lightspeed program at $5,000,000,000, or 6.3 billion Canadian dollars.
The Government of Canada’s 1.44 billion Canadian dollar investment in Lightspeed equals approximately $1,150,000,000.
Ontario’s government provided Telesat a five-year investment agreement worth 109 million Canadian dollars less than a week before the federal Lightspeed financing package.
The Government of Canada will invest 1.44 billion Canadian dollars in Telesat’s Lightspeed constellation.
Telesat committed to invest 1 billion Canadian dollars of Lightspeed’s initial capital expenditures in Canada.
A dedicated Telesat Lightspeed capacity pool will be made available at substantially reduced rates to Canadian Internet service providers and mobile network operators to expand high-speed Internet and LTE/0.005 kg networks in Ontario’s unserved and underserved communities.
The Government of Quebec will invest 400 million Canadian dollars in Lightspeed and MDA to build the network’s phased array antennas.
Telesat raised $500,000,000 in debt in April to help fund Lightspeed’s estimated $5,000,000,000 cost.
Under the Ontario funding plan, Lightspeed will offer internet service providers and cellular operators substantially reduced rates for part of its capacity.
Based on ThinKom Ka2517 antenna performance and Telesat’s Lightspeed LEO network, downlink speeds are expected to reach up to 830 Mbps to a single aircraft.
Based on ThinKom Ka2517 antenna performance and Telesat’s Lightspeed LEO network, uplink speeds are expected to reach up to 200 Mbps to a single aircraft.
Telesat faces significant challenges including securing financing, keeping the Lightspeed program on-budget and on-schedule, and driving revenues from broadband SATCOM markets.
Commercial service for Telesat Lightspeed is expected to commence in 2024.
Telesat Lightspeed will consist of 298 crosslinked next-gen satellites and an advanced ground infrastructure.
The first Telesat Lightspeed satellite launches are planned for late 2023.
Telesat has secured about 1 billion Canadian dollars in funding support for Lightspeed from the federal government of Canada and Quebec’s provincial government.
Telesat raised $500,000,000 in debt in April to help fund the Lightspeed project.
NextBillion.ai previously raised a $7,000,000 Series A round last year from Lightspeed and Falcon Edge Capital.