Canadian Space Tech Firm MDA Gets Deal to Build 198 Satellites for Telesat

Science

Satellite operator Telesat has given space tech firm MDA a CAD 2.1 billion (nearly Rs. 12,950 crore) contract to build 198 satellites for its low-earth orbit program.

The deal announced on Friday sparked a more than 45 percent surge in both Telesat’s Canadian and US shares, putting them on track for their best day ever. MDA, meanwhile, rose about 29 percent.

Telesat said it had earmarked $3.5 billion (nearly Rs. 29,020 crore) as capital expenditure for the Lightspeed project and that the MDA deal had helped it save $2 billion (nearly Rs. 16,580 crore).

The launches are scheduled to commence in mid-2026, with polar and global services scheduled to begin in late 2027.

By using MDA’s beam-forming array antennas and integrated regenerative processor, the redesigned Telesat Lightspeed network will achieve increased network efficiency and enhanced flexibility to focus and deliver capacity to users, the company said in a statement.

The technology would also allow each satellite to be slightly smaller than the ones Telesat was previously considering.

Telesat’s Lightspeed network is designed to serve the connectivity requirements of enterprise and government users, with highly secure, resilient, low-latency broadband connectivity anywhere in the world.

The company launched its first LEO 3 demonstration satellite aboard Rocket Lab’s Electron rocket in July.

Telesat earlier on Friday also reported second-quarter results. The company posted a profit of CAD 519.9 million (nearly Rs. 3,210 crore), compared with a year-ago loss of CAD 4.38 million (nearly Rs. 27 crore). Revenue fell 4 percent. 

© Thomson Reuters 2023


Affiliate links may be automatically generated – see our ethics statement for details.

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who’sThat360 on Instagram and YouTube.


Offshore Online Gaming Companies in India Mandated to Register Their Business

Read original article here.

Products You May Like

Articles You May Like

Most Fans Haven’t Even Seen Footage Of Gladiator 2 Yet, And They’re Already Having The Best Reactions To Paul Mescal, Pedro Pascal And Joseph Quinn
Lighting Up Our Brains: Excellent Books about Reading
The True Story Behind How Godzilla Came Into Being Back In 1954
Amen Dunes Announces Tour Dates, Shares New “Round the World” Video: Watch
Godzilla X Kong Tops $436M Global Box Office, Kung Fu Panda 4 At $453M