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In June, AAC Clyde Space received a £2,300,000grant from Scottish Enterprise to co-fund development, manufacturing, and operations of a new generation of nanosatellites and small satellites based on a standard modular design.
During the first phase of xSPANCION, AAC Clyde Space will create a preliminary design with 900,000 EUR of funding provided by the U.K. Space Agency through ESA and another 900,000 EUR contributed by AAC Clyde Space and its partners.
The co-funding from the UK Space Agency for the first phase will be recognized as revenue with no net margin because AAC Clyde Space and partners will co-fund the remaining €0.9 million.
As part of xSPANCION, AAC Clyde Space will develop and manufacture satellites to provide space-based services to companies.
AAC Clyde Space was formed in early 2018 when shareholders of AAC Microtech approved a late-2017 plan to acquire Scotland’s Clyde Space.
AAC Clyde Space plans to acquire SpaceQuest for $8,400,000 pending shareholder approval and approval from the U.S. Committee on Foreign Investment in the United States.
Luis Gomes, AAC Clyde Space CEO, and Craig Clark, AAC Clyde Space chief strategy officer, have sought to expand AAC Clyde Space’s presence in the U.S. space market.
Bert Monna, Hyperion Technologies CEO, supports joining AAC Clyde in order to offer a more integrated one-stop-shop, increased service levels, and greater business robustness.
On 2020-10-07, AAC Clyde Space revealed plans to purchase Hyperion Technologies of the Netherlands for 21.7 Swedish Krona (SEK), equivalent to $2,440,000.
AAC Clyde Space has reached an agreement to acquire 100% of the shares in Hyperion Technologies BV in a shares and cash deal.
The market relevant to AAC Clyde Space is currently estimated to be worth $2,000,000,000 a year and projected to grow to $3–4 billion by 2022.
With the new capabilities from the acquisition, AAC Clyde Space will offer new solutions for turnkey space missions and for the Space-as-a-Service business, including deployment of optical communications systems.
AAC Clyde Space reported that customers who delayed orders earlier in 2020 because of the coronavirus pandemic are returning, which the company expects will result in a surge in sales late in 2020 and into early 2021.
AAC Clyde Space expects to end 2020 with roughly 100 million Swedish krona in sales, which is more than 50% higher than its 2019 sales.
AAC Clyde Space expects to receive 17 million Swedish krona in total for the VDES demonstration program.
AAC Clyde Space will build the cubesat in Uppsala, Sweden at a facility previously used only for satellite subsystems.
The first of Orbcomm’s two AAC Clyde AIS cubesats is projected to launch in December and the second is projected to launch between the beginning of April and the end of June.
The Swedish Transport Administration is providing 12.2 million Swedish krona to AAC Clyde Space for the cubesat.
Exotrail has two propulsion systems scheduled to launch next year on cubesats that Clyde Space is building for Eutelsat.
AAC Clyde built Kepler’s first two prototype satellites, which were three-unit cubesats launched into low Earth orbit in 2018.