July 20, 2024


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Geosat guarantees two satellites for Portugal

Geosat guarantees two satellites for Portugal

With the establishment of a specialized company and the purchase of two satellites already in orbit, Portugal guarantees entry into the club of countries with active presence in space. The new operator is called Geosat – its partners are Amnidia (55%), CEIIA – the Center for Engineering and Development (35%) and the Atlantic Center (10%). The launch marked the acquisition of two satellites in April as part of the bankruptcy proceedings of the Urtecast company that began in Canada, but was extended to a Spanish court.

In addition to satellites, the new company also guarantees the purchase of data reception antennas, servers and Urtecast Espana, Timos Imaging and Dot Imaging companies in Spain. Geosat said the move would require a total investment of $ 20 million over the next five years. The company chose not to release the specific cost of the satellites, but recalls that Timos 1 and Timos 2 were valued at more than $ 70 million in 2015.

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