GomSpace enters into Joint Venture with French company Ellipse Partners SAS

STOCKHOLM, Dec. 18, 2023 /PRNewswire/ -- GomSpace and Ellipse Projects SAS from France enters a Joint Venture with the purpose of acquiring a contract for monitoring of marine and fishing resources around Indonesia. A Tender of a potential value of 150 MEUR (1.6 BSEK), has been awarded to the Joint Venture by the Indonesian Ministry of Marine Affairs & Fisheries.

The company advises that the information shared in this press release is still contingent upon final commercial contract negotiations and a government-to-government financing agreement. The company informs that it has no control over or influence on the completion of the financing agreements and that the outcome of the contract negotiations are not yet known. Until the commercial contract is signed and government-to-government export financing is in place, the company cannot guarantee that the Tender award will ever materialize into a commercial agreement for execution.

EPGS Partners Aps is a Joint Venture registered in Denmark and created by GomSpace Group AB and its French partner Ellipse Projects SAS for the purpose of delivering satellite monitoring solutions to Indonesia. Ellipse Projects will be the majority shareholders in the Joint Venture.

EPGS Partners Aps has been awarded a Tender by the Indonesian Ministry of Marine Affairs & Fisheries (known as KKP). The potential contract value for the full program is 150MEUR (approx. 1.6 BSEK). The scope of the contract is to deliver a solution to enable the "Satellite Constellation Mission to Support Monitoring of Marine and Fisheries Resources" program in Indonesia.

The Joint Venture, EPGS Partners, will be the vehicle for handling suppliers, e.g., launch of satellites, building of ground stations, and implementation of data centres in Indonesia. Ellipse Projects will have the overall prime responsibility and management of the company. The contract value of 150 MEUR will be split between Ellipse Projects, GomSpace, and local Indonesian content partners, subject to final contract negotiations on workshare and responsibility. GomSpace share is expected to be 1/3.

The Indonesian program is supported by government-to-government funding. Once the negotiations of the commercial agreement based on the Tender award has been completed, the Indonesia Government will request that necessary government-to-government financing will be initiated. The process for the final agreement from government-to-government financing is expected to last until end of Q1 2024, and a potential negotiated commercial contract will not be a potential reality until that time.

About Ellipse Projects SAS

Ellipse Projects is a key player in the financing, design and implementation of large infrastructure projects.

With strong multi-sector expertise in the health, digital and connected buildings, the company provides turnkey projects in emerging countries and also excels in the provision of public services.

Their expertise and their know-how enable the teams of Ellipse Projects to take the responsibility for infrastructure projects, from the structuring of its financing through the conception to the delivery of the project.

The teams of Ellipse Projects act mainly in Africa and in Southeast Asia, and from its head office in France, Ellipse Projects relies on its network of subsidiaries and local branches (London, Brussels, Dakar, Abidjan, Ouagadougou, Accra, Yaoundé, Nairobi, Singapore, Jakarta and Colombo) to manage the projects, the main actors and our local partners with a strong local presence.

For more information, please contact:
Carsten Drachmann (CEO)
Tel: +45 40 63 40 36
E-mail: [email protected] 

About GomSpace Group AB

The company's business operations are mainly conducted through the wholly-owned Danish subsidiary, GomSpace A/S, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB is the Company's Certified Adviser. For more information, please visit our website on www.gomspace.com.

Miscellaneous
This information is information that GomSpace is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, 14:30 p.m. CET on December 18, 2023.

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SOURCE GomSpace A/S