Luxembourg-based Kleos Space, a private satellite intelligence-gathering space technology operator that will launch and operate its first earth observation satellite system by mid-2019, is completing the administrative details in order to be ready for its impending listing on the Australian Stock Exchange (ASX) with the change of its legal name.
The private limited liability company changes into Kleos Space S.A., a public limited liability legal form which allows the company to freely transmit shares and a mandatory administrative step as part of the upcoming Initial Public Offering (IPO).
The Kleos Space IPO is set for 7 June 2018, and the company hopes to raise AUS$11 million (approximately U.S.$8.3 million) soon thereafter.
With the goal of creating a twenty-satellite constellation system in low earth orbit (LEO), Kleos Space’s accessible and commercial solutions respond to international security concerns with regard to surveillance, intelligence gathering, and defence issues.
Up to 2020, the European Commission will allocate €590 million to the European Defence Fund making the EU one of the biggest defence research investors in the world. In only 18 months, Kleos Space will provide a relevant solution to urgent satellite imagery and geolocation requests. With its satellite constellation Kleos Space will demonstrate its technical predominance and proof of concept by providing accessible, raw data for customers.
Kleos Space S.A. starts at a time when governmental entities understand that private corporations, with their binary approach of succeed or fail, are providing faster access to data and the markets, optimizing time and cost reduction opportunities dramatically and providing additional layers of information to existing governmental information sources.
Today, NASA purchases Earth science data from commercial small satellite systems and private companies, such as Kleos Space S.A., are penetrating sectors traditionally monopolized by government entities like defence departments and intelligence agencies.
As its first satellite is being readied to be launched, Kleos Space is developing its services to suit the needs of NATO, Five-Eyes (Australia, Canada, New Zealand, United Kingdom, and United States of America) countries, the European Commission, and regions such as South America that are typically investing in maritime projects, and African countries that need to exploit surveillance data for border security.