European Space Agency and Viasat Partner to Stimulate Growth Across Europe's Space Industry Ecosystem
BRUSSELS (6th Annual ARTES Applications Workshop) - April 28, 2016 - The European Space Agency (ESA) and Viasat Inc. (Nasdaq: VSAT), a global broadband services and technology company, today announced a new pilot programme called the High Capacity Satellite Applications Factory Initiative ("the HCS Initiative"). This initiative will focus on accelerating Europe's growth as a centre of excellence and innovation in the space industry through the rapid development of new HCS products, applications and services.
A three-year multi-million euro project, the HCS Initiative involves the collaboration of ESA, Member States, industry, universities and Viasat. The major goal of the HCS Initiative is to simplify and shorten the funding application process to reduce time-to-market for new products, applications and services that can contribute to, or benefit from, advanced HCS systems. The HCS Initiative expects to spur job creation and growth across the European space ecosystem by lowering barriers of entry for start-ups, Small-to-Medium Enterprises (SMEs) and new market entrants, and give large corporations the ability to prosper in the established space industry, which is estimated to be worth over €500bn by 2030.
To kick-off the HCS Initiative, ESA and three Member States: the UK, Switzerland and Belgium will provide €30m in funding, and Viasat will introduce and manage an online portal, known as the Space Hub. This portal will provide a collaborative space for ESA, Member States and participating organisations to share knowledge and experience; identify potential partners and opportunities; and ultimately produce more effective HCS technologies, applications and services. Projects selected under the HCS Initiative will receive up to 50 percent funding, with assistance from Viasat that could include technical support on proposal preparation and project execution, program management, test bandwidth and hardware support.
Magali Vaissiere, ESA director of Telecommunications and Integrated Applications commented, "Through ARTES Competitiveness and Growth (C&G), ESA provides broad support for the development and validation of technologies, products, applications and services to maintain and further improve the competitive position of industry of ESA Member States in the global market of satellite telecommunications. The Viasat Applications Factory initiative is a clear example of how the ARTES Competitiveness & Growth programme can provide effective support to successfully develop products and applications. This initiative will help the ESA Member States and Industry to team up with Viasat and to quickly integrate and demonstrate their products in the High Capacity Satellite ecosystem of Viasat as well as across the wider Satcom market."
"High Capacity Satellites are a new breed of technology that is delivering ubiquitous, affordable broadband services to rival cable, fibre and terrestrial offerings. They also deliver services where terrestrial offerings simply cannot compete from hard-to-reach residential or business locations to providing in-flight internet. We believe the possibilities for how to connect people with High Capacity Satellites are endless," said Keven Lippert, executive vice president, Space Systems and Corporate Development, Viasat. "However to leverage the potential from High Capacity Satellite systems, we need constant innovation, fresh thinking and investment from across industry, academia and government. By partnering with ESA and others on the High Capacity Satellite Applications Factory Initiative, we are making a commitment to energise development and reduce time-to-market for new High Capacity Satellite technologies, applications and services across Europe."
Viasat's Commitment to Europe
Viasat is a natural fit for the HCS Initiative, as the Company has led the global transformation in HCS satellite systems and services for nearly three decades. The HCS Initiative represents a key step in Viasat's ongoing commitment to bring HCS services to Europe. It comes in the wake of Viasat's recently announced joint venture with Eutelsat to provide residential and commercial high-speed satellite services across Europe and Viasat's announcement to deliver a dedicated Viasat-3 class satellite, which will provide more than 1,000Gbps of total capacity over Europe, Middle East and Africa by 2020.
Additional Supporting Quotes
"Satellite services are now a fundamental part of our interconnected global economy. The HCS Initiative represents a fresh approach designed to open up the innovation arena to new players enabling them to build real world solutions and bring them to the market quickly and effectively. This innovative 'match making' will bring the kind of dynamism and creativity to the development of technology, applications and services that should be tailor-made for those with an entrepreneurial approach. The initiative therefore has the real potential to drive economic growth and stimulate job creation and we look forward to seeing that positive impact in the UK economy." - Catherine Mealing-Jones, Director of Growth at the UK Space Agency
"The momentum created through the HCS Initiative is an important and unique opportunity for budding enterprises beyond the space sector. In this collaboration with ESA and national delegations, Viasat plays an important role of an enabler and catalyst. What was once a start-up seed in Switzerland has become part of a global enterprise that itself enables new ventures. I very much look forward to the economic growth that this initiative unlocks in Switzerland and Europe." - Daniel Neuenschwander, head of the Swiss Space Office
Viasat, Inc. (NASDAQ: VSAT) keeps the world connected. As a global broadband services and technology company, Viasat ensures consumers, businesses, governments and military personnel have communications access - anywhere - whether on the ground or in-flight. The Company's innovations in designing highest-capacity satellites and secure ground infrastructure and terminal technologies coupled with its international network of managed Wi-Fi hotspots enable Viasat to deliver a best available network that extends the reach and accessibility of broadband internet service, globally. For more information visit Viasat at: www.viasat.com, or follow the Company on social media: Facebook, Twitter, LinkedIn and YouTube.
Forward Looking Statement
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include, among others, statements that refer to the HCS Initiative, reduced time-to-market for new HCS technologies and services in Europe, Viasat's joint venture with Eutelsat and Viasat-3 class satellites providing more than 1,000 Gbps of total capacity over Europe, Middle East and Africa by 2020. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: the ability to realize the anticipated benefits of the Viasat-3 satellite platform; unexpected expenses or delays related to the satellite system; the ability to successfully implement Viasat's business plan for broadband satellite services on Viasat's anticipated timeline or at all, including with respect to the Viasat-3 satellite platform; and risks associated with the construction, launch and operation of Viasat-3 and Viasat's other satellites, including the effect of any anomaly, operational failure or degradation in satellite performance; the satisfaction of closing conditions for the Eutelsat joint venture, including receipt of regulatory approvals; the parties' ability to successfully integrate and operate the new joint venture, and achieve expected synergies and other benefits; the ability to attract and retain key employees for the new joint venture; the impact of competition; the ability to develop products and technologies; the impact of changes in the financial markets and global economic conditions; risks associated with the construction, launch and operation of satellites used to supply these new services, including the effect of any anomaly, operational failure or degradation in satellite performance; reduced demand for products as a result of continued constraints on capital spending by customers; changes in relationships with, or the financial condition of, key customers or suppliers; reliance on a limited number of third parties to manufacture and supply products; Viasat's level of indebtedness and ability to comply with applicable debt covenants; and other factors as may be detailed from time to time in Viasat's public announcements and SEC filings. In addition, please refer to the risk factors contained in Viasat's SEC filings available at www.sec.gov, including Viasat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any reason.
Copyright © 2016 Viasat, Inc. All rights reserved. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners. Viasat is a registered trademark of Viasat, Inc.
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