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AAC Clyde Space reported impressive growth for Q2 2021, with a 156% increase in net sales to SEK 47.4 M, boosted by the acquisition of Omnisys Instruments. EBITDA loss narrowed to SEK -3.5 M, while the order backlog surged by 152% to SEK 413 M. Significant contracts include an GBP 8.4 M agreement with Wyvern Inc. for Space Data as a Service. The company aims for EBITDA positivity in 2022 and SEK 500M revenue by 2024.
AAC Clyde Space has announced the establishment of AAC Space Africa to target the burgeoning satellite market in Africa. Located in Cape Town, this new subsidiary aims to design and deliver space missions while serving as the group's hub for advanced radio communication. Led by experts with over 40 years in the industry, AAC Space Africa plans to meet the growing demand in the African space economy, projected to reach $10 billion by 2024. The company seeks to provide crucial data for sectors including agriculture and weather forecasting, aiding Africa's rapid development.
AAC Clyde Space has entered a significant £8.4m contract with Wyvern Inc. to deliver high-resolution hyperspectral data from space. The contract, which spans an initial four years, includes the design and manufacture of three 6U EPIC satellites. The first satellite is set for launch in mid-2022. This is AAC Clyde Space's largest Space Data as a Service contract to date, highlighting the increasing demand for space-based data solutions for sectors like agriculture. The partnership aims to enhance agricultural yield optimization and pest detection through advanced hyperspectral imaging.
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