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The second-phase contract is valued at USD $2.9 Million and will drive the development of a next-gen satellite communications system.
Kista, Sweden // Feb.1, 2024 // Sivers Semiconductors AB (STO: SIVE) today announced the expansion of its chipset agreement with Thorium Space. This USD 2.9 million (approx. 30 MSEK) second phase will focus on the advanced development and validation of the chipsets designed in the initial phase, further laying the groundwork for future large-scale manufacturing. The company anticipates recognizing revenue up to USD $2.1 million from this contract in the year 2024.
This new contract represents the continuing and deepening partnership between Sivers Wireless, a business unit of Sivers Semiconductors, and the Polish satellite communication systems pioneer.
The achievement marks a significant step forward in Thorium Space's preparations for its planned space deployment, targeting the launch of these sophisticated satellite operations.
Thorium Space is asserting its prominence in the satellite communications sector, underscored by its recently announced collaboration with the European Space Agency (ESA) on the groundbreaking HummingSAT project, aimed at developing telecommunications satellites for geostationary orbit (GEO), where Thorium's digitally-defined payloads will play a key role.
Notably, Thorium Space has secured substantial funding from the ESA for this endeavor, with a commitment of €8 million for the initial A/B phase and an additional €25 million for the subsequent C/D/E phase.
Sivers' advanced Ka-band technology, with its focus on electronic beam steering, is key for efficient satellite communications systems. This technology significantly reduces the size, weight, and space needed for satellite transceivers, which are crucial for space missions.
By replacing mechanically steered antennas with electronic alternatives, Sivers enhances operational efficiency and reduces maintenance. This is particularly beneficial for satellite communications, ensuring reliable links in challenging space conditions. Additionally, these solutions offer improved broadband performance with high efficiency and low energy use, making Sivers Wireless a prime choice for compact, efficient, and high-performing telecommunications.
"Our continued joint development with Thorium Space marks a significant step in advancing geostationary telecommunications satellites," stated Anders Storm, Group CEO of Sivers Semiconductors. "This partnership represents a powerful convergence of innovation and expertise, collectively pushing the frontiers of satellite communications technology forward."
For more information please contact:
Anders Storm, CEO
Tel: +46 70 262 6390
E-mail: anders.storm@sivers-semiconductors.com
This disclosure contains information that Sivers Semiconductors is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the contact person set out, on 1 February, 2024, 10:00 CET.
Sivers Semiconductors AB is a leading and internationally recognized technology company that supplies ICs and integrated modules through its two business areas Wireless and Photonics. Wireless develops mmWave products for advanced 5G systems for data and telecommunications networks and satellite communication. The portfolio includes RF transceivers, beamforming front end ICs, integrated mmwave antennas, repeaters, and software algorithms for optimum mmWave RF performance. Photonics develops and manufactures semiconductor based optical products for optical fiber networks, sensors and optical fiber communications (Li-Fi). The company is listed on Nasdaq Stockholm under SIVE. The head office is located in Kista, Sweden. For more information: http://www.sivers-semiconductors.com