Eutelsat has concluded a contract with the French Ministry of Defense. The satellite operator’s share promptly reacts with a significant price plan.
• Eutelsat closes framework agreement with a French military
• Provision of space resources
• value of up to one billion euros
The French satellite operator Eutelsat has signed a framework agreement with the French Ministry of Defense. The company announced on Wednesday evening. The contract with up to one billion euros is part of the newly launched military space program Nexus (Neo-E-ESPACE PORE DE MULTIPLES Usages Sécurisés) that combines civilian and military satellite resources. The aim is to improve France’s responsiveness in the security -relevant room segment and to position itself regardless of non -available European systems such as Iris².
Strategic mandate for Eutelsat: Military relies on Leo satellites
The agreement provides for the prioritized use of satellite capacities from the OneWeb Leo constellation of Eutelsat, which is located in low earth orbit. In addition, it includes the implementation of additional missions for the French armed forces as well as the operation and safety maintenance of the systems over a period of ten years.
Jean-François Fallacher, CEO of Eutelsat, emphasized the importance of cooperation for the company: “We feel honored to support the French armed forces as part of this historical agreement,” said Fallacher according to the press release. He emphasized that Eutelsats Commercially operated Leo constellation is currently the only one to correspond to the high military standards – a decisive advantage, since the European Iris² system is not yet ready for use.
The constellation enables global cover, low latency, quick operational readiness and high flexibility through its low orbit – particularly important for mobile military applications. According to the Eutelsat, these properties have already been successfully validated in large -scale tests with the French armed forces.
Eutelsat share increases significantly after billions of bills
After the official announcement of the agreement as part of the Paris Air Show, the Eutelsat share recorded a clear course jump on Thursday. Finally, the paper at the Euronext in Paris increased by 14.52 percent to 2.84 euros.
Editor finance.net
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