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Cashed up after a $50 million Series C funding round in May, Adelaide-based Fleet Space Technologies continues its global expansion with its first acquisition of European assets that will allow for more freedom to move in an increasingly crowded industry.
As its first commercial venture in Europe, the space tech firm has bought the rights to new long-term frequency filings from an undisclosed Luxembourg-based company, which for its sector could be loosely likened to a farmer securing water rights.
The rapid growth in the global small-satellite industry and low earth orbit (LEO) constellations like Fleet’s has put increasing pressure on the limited radio frequency spectrum available for data transmission.
Fleet Space 's acquisition gives it a claim over spectrum and orbital resources for satellite networks with the International Telecommunication Union (ITU), a specialised agency of the United Nations (UN).
As these newly acquired rights have 'good seniority' and are thus prioritised over claims made more recently, Fleet Space will have effective operational control over an existing frequency filing, adding to its already substantial holding of these mission-critical assets.
The filings have been brought into use, so Fleet will be able to utilise the new frequencies indefinitely as long as it maintains a satellite in orbit capable of using them.
"Fleet Space Technologies is now providing innovative universal connectivity solutions through its network of satellites across the globe to sectors as diverse as critical mineral exploration and defence," says Fleet Space Technologies CEO and co-founder Flavia Tata Nardini.
"To meet this sustained demand, we depend on access to the shared but limited radio frequency spectrum to operate our services. Securing access to these new frequency filings puts us in a strong position globally and gives us and our customers a real competitive advantage.
"It also represents another important step in our international expansion, by giving us a commercial foothold in Europe to complement our operations in Australia, USA, Canada and Chile."
Having a presence in Europe will also stimulate the recruitment and exchange of highly skilled talent between Europe and Australia, and further improve established relationships with the European Space Agency (ESA).
The requirement to incorporate assets from other companies leaving the industry is driven by sustained growth for Fleet across a multitude of sectors. This includes, signing long-term satellite aided critical earth transition mineral agreements with some of the world’s largest and most innovative miners.
Fleet also confirmed its first defence contract in April 2023, signing a $6.4 million contract with Australia’s Defence Space Command, and was recently awarded a $4 million demonstrator program contract by the Australian Space Agency to harness seismic data at Moon’s South Pole.
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