GomSpace and IFU sign an investment agreement for Aerial & Maritime Ltd.

Company
Company Update

November 28, 2016 - Aerial & Maritime Ltd (”A&M”) a subsidiary of GS Sweden AB (”GomSpace” or the ”Company”) has secured an investment of 7,2 million USD from GomSpace, the Investment Fund for Developing Countries (”IFU”) and an African investor for financing of the activities of A&M.

The objective of A&M is to own and operate a constellation of nanosatellites to be launched into a low-inclination Equatorial orbit. The satellites will be capable of monitoring the whereabouts of civilian aircraft and vessels in an area spanning from 37 Degrees Northern to 37 Degrees Southern Latitude using ADS-B and AIS-signals, respectively. A&M will have its own management independent from GomSpace.

”We at GomSpace are very happy that it has been possible to establish A&M together with IFU and our African parther to provide this service to countries in the Equatorial region” says Niels Buus, CEO of GomSpace, and continues: ”As we are a technology provider and not a service provider, it has been important for GomSpace to exploit our pioneering knowledge in airline tracking from nanosatellites in an operation that is independent from GomSpace, and our ownership will therefore be a purely financial holding, managed through our participation in the board of A&M”.

”IFU is pleased to be part of this investment, which is expected to have an important developmental impact across many developing countries in the Equatorial zone. Thanks to the services provided by this project, safety and revenue from the aviation and maritime activities of these countries will improve” says Tommy Thomsen, CEO of IFU.

A&M will have its first operational subsidiary in Accra, Ghana. The official registered address will be in Port Louis, Mauritius.

For more information, please contact:

Niels Buus (CEO)
Tel: +45 40 31 55 57
Email: nbu @ gomspace.com
About GS Sweden AB

The Company’s business operations are conducted through the wholly-owned Danish subsidiary, GomSpace ApS, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The Company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB is the Company’s Certified Adviser. For more information, please visit our website on www.gomspace.com.

Miscellaneous
This information is information that GomSpace is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16.30 CET on November 28, 2016.

Press Statement by Gomspace, (2016). [online] Available at: https://t.co/HUk2MgZ7ik [Accessed 29 Nov. 2016].

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