UK Space Agency Awards SatixFy £1.8M for the Development of Advanced LEO Payload Software

Rhea-AI Summary

SatixFy Communications (NYSE: SATX) has secured £1.8 million ($2.3 million) in funding from the UK Space Agency under its C-LEO program to develop advanced software for digital satellite payloads. The software suite will focus on regenerative and digital beamforming capabilities, designed for real-time control and monitoring of LEO/MEO/GEO payloads.

The software will integrate with SatixFy's Sx4000 regenerative processor ASIC and Prime 2.0 digital beamforming integrated circuits, expanding the company's full solution offering. This integration aims to provide satellite operators with a comprehensive end-to-end solution that enhances performance, efficiency, and flexibility while reducing integration complexity and time-to-market.

Positive

• Secured £1.8M ($2.3M) government funding
• Expansion into software solutions complementing existing hardware
• Integration with existing product line creates comprehensive end-to-end solution
• Potential for reduced integration complexity and faster time-to-market

Negative

• Development completion timeline not specified
• Revenue impact and commercialization timeline unclear

Insights

Financial Analyst

SatixFy's £1.8 million ($2.3 million) grant from the UK Space Agency represents a significant financial boost for this small-cap company with a market capitalization of only $90.7 million. The funding, approximately 2.5% of SatixFy's market cap, provides non-dilutive capital for software development that strategically enhances their existing hardware portfolio.

This award marks an important strategic evolution for SatixFy. By expanding beyond their core hardware business into complementary software solutions, they're positioning themselves to capture more value in the satellite communications value chain. The integration of their planned software with their existing Sx4000 and Prime 2.0 chips creates a comprehensive solution that should strengthen their competitive position.

For satellite operators, SatixFy's combined hardware-software offering potentially reduces integration complexity and accelerates time-to-market, creating a compelling value proposition. The government validation through this competitive grant process also serves as important third-party credibility for SatixFy's technology approach in the rapidly evolving LEO/MEO/GEO satellite market.

While £1.8 million won't transform the company overnight, it provides targeted funding for a strategic initiative that could significantly enhance their market position and long-term growth prospects in the expanding satellite communications sector.

REHOVOT, Israel--(BUSINESS WIRE)-- SatixFy Communications Ltd. (“SatixFy” or the “Company”) (NYSE American: SATX), a leader in next-generation satellite communication systems based on in-house-designed chipsets, today announced that it has secured funding of £1.8 million (approximately $2.3 million) from the UK Space Agency under its C-LEO program, for the development of an advanced software suite for digital satellite payloads.

The funds will support SatixFy’s development of advanced regenerative and digital beamforming software, addressing the increasing demand for software-reconfigurable satellite payloads. The software is designed for real-time control and monitoring of LEO/MEO/GEO payloads, whether based on DVB, 3GPP, or other waveform families. The software is expected to play a pivotal role in enabling highly flexible, adaptive, and intelligent satellite networks.

Crucially, this software is being designed to seamlessly integrate with SatixFy’s state-of-the-art Sx4000 regenerative processor ASIC and Prime 2.0 digital beamforming integrated circuits, which would broaden SatixFy’s full solution offering. Together, these advanced chipsets and intelligent software are expected to provide satellite operators with a comprehensive, end-to-end solution—enhancing performance, efficiency and flexibility, while significantly reducing integration complexity and accelerating time-to-market.

“We believe that this award from the UK Space Agency is a strong validation of SatixFy’s core capabilities,” commented Nir Barkan, Chief Executive Officer of SatixFy. “By leveraging our deep expertise in satellite communications, digital signal processing and radiation hardening semiconductor development, we believe that we are well-positioned to deliver a complete solution that extends beyond hardware into software-driven optimization. Completion of the development of this software, designed by SatixFy UK, would mark a strategic expansion of our portfolio—bridging the gap between advanced processing hardware and intelligent software to provide customers with a fully integrated, next-generation satellite communication solution.”

Dr. Craig Brown, Investment Director at the UK Space Agency, said: “Satellite mega-constellations are changing how people and businesses communicate across the globe, transforming markets in areas like maritime and aviation connectivity. This new project with SatixFy will develop advanced software that is flexible and adaptable to the evolving demands of new satellite systems. It is a key part of our plans to ensure the UK continues to benefit from the rapid growth of the global space sector.”

About the C-LEO program

The C-LEO program is a UK Space Agency initiative aimed at advancing Low Earth Orbit (LEO) satellite technologies, ensuring that the UK space sector remains competitive in the rapidly evolving global market for low-earth orbit constellations.

About SatixFy

SatixFy develops end-to-end next-generation satellite communications systems, including satellite multi-beam digital space antennas, flat panel user terminals and modems, based on powerful in-house designed chipsets.

SatixFy’s products include modems that feature Software Defined Radio (SDR) and Fully Electronically Steered Multi Beam Antennas (ESMA) that support the advanced communications standard DVB-S2X and RCS2. SatixFy’s innovative ASICs improve the overall performance of satellite communications systems, reduce the weight and power requirements of terminals and payloads, and save real estate for gateway equipment. SatixFy’s advanced VSATs and multi-beam fully electronically steered antenna arrays are optimized for a variety of mobile applications and services, prepared for multi-orbits LEO, MEO and GEO satellite communications systems, for aero/in-flight connectivity systems, communications-on-the-move applications and more.

SatixFy is headquartered in Rehovot, Israel with additional offices in the U.S., UK and Bulgaria. For more information, please visit www.SatixFy.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, SatixFy is using forward looking statement in this press release when it discusses the potential benefits and advantages of the Company’s products and software; the increasing demand for software-reconfigurable satellite payloads; strategic expansion of the Company’s portfolio; that this new project will develop advanced software that is flexible and adaptable to the evolving demands of new satellite systems; and that this project is a key part of UK Space Agency’s plans to ensure the UK continues to benefit from the rapid growth of the global space sector. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among others: the Company’s planned level of revenues and capital expenditures; the Company’s available cash and its ability to obtain additional funding; the Company’s ability to market and sell its products; legal and regulatory developments in the United States and other countries; the Company’s ability to maintain its relationships with suppliers, distributors and other partners; the Company’s ability to maintain or protect the validity of its patents and other intellectual property; political, economic and military instability in the Middle East, specifically in Israel; as well as those factors set forth in the Risk Factors section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2023 filed with the SEC on March 29, 2024, and other documents filed with or furnished to the SEC which are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

SAT-COM

View source version on businesswire.com: https://www.businesswire.com/news/home/20250305229773/en/

Investor Contact:

Kenny Green & Ehud Helft, EK Global IR, satixfy@ekgir.com

Media Contact:

Aviv Sax Nahamoni, info@satixfy.com

Source: SatixFy

FAQ

How much funding did SatixFy (SATX) receive from the UK Space Agency?

SatixFy received £1.8 million (approximately $2.3 million) from the UK Space Agency under its C-LEO program.

What will SatixFy (SATX) develop with the UK Space Agency funding?

SatixFy will develop advanced software for digital satellite payloads, focusing on regenerative and digital beamforming capabilities for LEO/MEO/GEO payloads.

How will the new software integrate with SatixFy's existing technology?

The software will integrate with SatixFy's Sx4000 regenerative processor ASIC and Prime 2.0 digital beamforming integrated circuits.

What are the expected benefits of SatixFy's new satellite software solution?

The solution aims to enhance performance, efficiency, and flexibility while reducing integration complexity and accelerating time-to-market for satellite operators.