Tuesday, February 26, 2013

NewSat Secures Funding in Major Boost

Australian company NewSat has announced that they have successfully achieved funding for their Jabiru-1 Satellite, which will launch mid-2015.

NewSat, which had been under a trading halt on the ASX for around 3 months, announced to the market that they had successfully raised $US611, with the bulk of the capital coming from both the US and French export credit agencies.

The funding culminates several years of extremely hard work from Adrian Ballintine and the management team at NewSat, who have brushed aside the many doubters of the Jabiru-1 project.

The Jabiru-1 Satellite is currently under construction with Lockheed Martin, and will be launched on an Ariane 5 rocket by Arianespace.

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