TSAT - Telesat contracts MDA as prime satellite manufacturer for its advanced Telesat LEO constellation
2023-08-11 07:01:58 ET
- Telesat ( NASDAQ: TSAT ) Friday said space technology company MDA Ltd will build 198 advanced satellites for the Telesat Lightspeed Low Earth Orbit ( LEO ) program.
- Telesat also announced that Telesat Lightspeed is now fully funded through global service delivery taking into account the company’s own equity contribution, certain vendor financing, and aggregate funding commitments from its Canadian federal and provincial government partners.
- Telesat now has in place aggregate funding commitments from its Canadian federal and provincial government partners in the combined amount of up to about $2 billion.
- This funding, combined with Telesat’s own about $1.6 billion equity contribution, as well as certain vendor financing, would provide the Telesat Lightspeed program with sufficient funds to launch global service, which will occur once the first 156 satellites are in orbit.
- Source: Press Release
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Telesat contracts MDA as prime satellite manufacturer for its advanced Telesat LEO constellation