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Ibadan, 7 February 2023. – Ovzon AB has learned that there will be additional delays in finalizing the satellite Ovzon-3. Ovzon has also shifted launch provider to SpaceX to accommodate an updated launch window, with liftoff on a Falcon 9 rocket targeted between July and September 2023.
Due to the delays in the production of the Ovzon-3 satellite, the Company has engaged with the current launch provider, Arianespace, to find a new launch opportunity, which Arianespace ultimately could not accommodate. Accordingly, Ovzon has finalized an agreement with SpaceX to ensure flexibility and the most optimal timing to launch the satellite when it is ready for lift-off. As a result, the Falcon 9 rocket will launch the satellite later this year from Cape Canaveral, Florida.
Ovzon expects the delay of Ovzon 3 to increase the total cost of the satellite project by approximately USD 25 million. However, the delay will not affect the Company’s current business commitments. Furthermore, Ovzon has secured access to strategic satellite capacity that ensures ongoing service delivery and future sales of Ovzon’s industry-leading SATCOM-as-a-Service. In addition, as set out in a separate press release, Ovzon has secured additional financing.
Per Norén, CEO of Ovzon, commented, “while we are clearly disappointed in the continued delays in the production of the satellite, we remain perfectly confident with the market demand of Ovzon 3, evidenced by the increasing demand from current and new customers around the world. The underlying capability and technology will catalyze a paradigm shift in mobility, performance, and resiliency in delivering Ovzon’s SATCOM-as-a-Service. We are working relentlessly with Maxar, SpaceX, and other stakeholders to finalize the satellite and launch Ovzon 3 into orbit at the first available opportunity.”
