SpaceRISE Selected by European Commission to Build and Operate the IRIS2 Multi-orbit Satellite Constellation

31 Oct 2024 17:38 CET

Regulatory News:

SpaceRISE, the consortium comprising Eutelsat (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), Hispasat and SES (Ticker: SESG), together with other core members, is pleased to announce it has been awarded by the European Commission to design, deliver, and operate IRIS², the European Union’s pioneering multi-orbit connectivity system. This milestone represents a crucial step towards establishing a secure, resilient, and autonomous communications infrastructure for Europe.

IRIS² will play a transformative role in reinforcing Europe’s resilience, digital sovereignty, and low-latency connectivity for all EU Member States. This IRIS² multi-orbit satellite system is intended to enhance Europe’s ability to respond to crises, protect essential infrastructure, and bridge the digital divide. With full operational status targeted for the early 2030s, IRIS² will deliver a secure and competitive communications backbone aligned with Europe’s strategic and digital priorities.

The IRIS² programme is a public private partnership (PPP) which will be funded by a combination of EU, European Space Agency and private financing from the three satellite operators within the SpaceRISE consortium.

The consortium looks forward to the final phase of the procurement process leading to contract signature expected by the year end.

Eva Berneke, Chief Executive Officer of Eutelsat commented: “The IRIS² programme is a powerful extension of Eutelsat’s commitment to advancing Europe’s digital sovereignty through sustained investment in multi-orbit technology to deliver multi-layered, low-latency networks, which are essential to Europe’s strategic resilience. We are proud to support the EU on this project alongside the consortium partners to deliver a resilient, future-ready communication system that meets Europe’s most critical connectivity needs, while generating value-creation for Eutelsat and its stakeholders by complementing and enhancing our existing LEO capabilities."

Miguel Ángel Panduro, Chief Executive Officer of Hispasat added: "We are firmly committed to everything that IRIS² represents: a sovereign secure communications system, supported by European innovative developments and driven by public-private partnership. It is an ambitious project, in which the companies of the SpaceRISE consortium are working to offer the best response to the demands of the European Union. This award is an exciting first step of a project that will define the future of satellite communications in Europe."

Adel Al-Saleh, Chief Executive Officer of SES said: “Being selected as a trusted partner for IRIS² is an honour. SpaceRISE, based on the European Union’s requirements will define and develop a future-proof space network that will serve as the cornerstone of Europe’s space and defence strategies in the years to come. The IRIS² system is aligned with SES’s multi-orbit network and underscores our commitment to advancing our MEO capabilities, as well as having access to LEO orbit. We will continue to ensure that the contract meets our IRR requirements, cash generation fundamentals, and investment grade metrics.”

About Space RISE
SpaceRISE which stands for Space Consortium for a Resilient, Interconnected and Secure Europe is dedicated to fostering a resilient, interconnected, and secure Europe through space innovation. Comprising Europe’s key space and telecom companies including Airbus Defence and Space, Deutsche Telekom, Eutelsat, Hisdesat, Hispasat, OHB, Orange, SES, Telespazio, Thales Alenia Space, and Thales, SpaceRISE aims to bring SMEs and New Space players together in a multi-national footprint throughout the EU27 Member States to expand its collaboration. By harnessing the strengths of established industry leaders and emerging innovators, SpaceRISE is set to drive Europe’s secure and sustainable future in space.

About Eutelsat Group

Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 36 Geostationary satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group’s unique suite of in-orbit assets enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and the Eutelsat Group employs more than 1,700 people across more than 50 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL). Find out more at: www.eutelsat.com

DISCLAIMER

The forward-looking statements included herein are for illustrative purposes only and are based on management’s views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Group's customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organization's closed pension fund, and foreign exchange risk. Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to reflect any change in events, conditions, assumptions, or circumstances on which any such statements are based, unless so required by applicable law. The information contained in this document is not based on historical fact and should not be construed as a guarantee that the facts or data mentioned will occur. This information is based on data, assumptions and estimates that the Group considers as reasonable.

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MEDIA

EUTELSAT:
Joanna Darlington
Tel. +33 674 521 531
jdarlington@eutelsat.com

Anita Baltagi
Tel. +33 643 930 178
abaltagi@eutelsat.com

HISPASAT :
Victor Inchausti
Tel +34 667 31 29 48
vinchausti@hispasat.com
www.hispasat.com

SES :
Suzanne Ong
Tel +352 71072 5500
suzanne.ong@ses.com
www.ses.com

INVESTORS

EUTELSAT :
Joanna Darlington
Tel. +33 674 521 531
jdarlington@eutelsat.com

Hugo Laurens-Berge
Tel. +33 670 80 95 58
hlaurensberge@eutelsat.com