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GeoSat guarantees two satellites for Portugal

GeoSat guarantees two satellites for Portugal

Portugal secured entry into the club of countries with an operational presence in space by creating a specialist company and purchasing two satellites that are already in orbit. The new operator is called GeoSat – and its shareholders are Omnidea (55%), CEIIA – Center for Engineering and Development (35%) and Atlantic Center (10%). It was this startup that in April secured the purchase of the two satellites as part of the Urthecast bankruptcy process, which began in Canada but also extended to Spanish court.

In addition to satellites, the new company has secured the purchase of data receiving antennas and servers, as well as companies Urthecast España, Deimos Imaging and Dot Imaging that are based in Spain. GeoSat reports that the process requires a total investment of € 20 million over the next five years. The company chose not to disclose the exact cost of the satellites, but states that Deimos 1 and Deimos 2 were estimated to be worth more than € 70 million in 2015.

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