Latest news with #Yahsat
Zawya
14-07-2025
- Business
- Zawya
UAE: Space42's board greenlights $695.5mln financing deal
Abu Dhabi – The board of Space42 has approved the entry of its subsidiaries into a proposed financing transaction with various financial institutions valued at $695.50 million. The facility deal comes within the framework of the Al Yah 4 and Al Yah 5 satellite program, according to a bourse disclosure. Meanwhile, the two units are Yahsat Treasury Sole Proprietorship and Star Satellite Communications Company. In May, Space42's subsidiary Mira Aerospace inaugurated MENA's first High Altitude Platform Stations (HAPS) manufacturing facility in Abu Dhabi. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
17-06-2025
- Business
- Zawya
Space42: A rising star at the intersection of space and AI
Space42 is an Abu Dhabi-based, ADX-listed space technology company that specialises in offering geospatial analytics and satellite communications powered by artificial intelligence (AI). With a global footprint and backing from major shareholders such as G42, Mubadala and International Holding Company (IHC), Space42 aims to deliver sustainable growth and long-term value for investors. The company was formed in 2024 with the merger of Bayanat AI and Al Yah Satellite Communications Company PJSC (Yahsat). The transaction, announced in 2023 and approved by shareholders in April 2024, was executed through a share swap, with Bayanat remaining as the legal entity, and Yahsat delisted from the exchange. The shareholders of Bayanat and Yahsat own 54% and 46% of the merged entity, respectively. Space42 comprises two business units: Yahsat Space Services and Bayanat Smart Solutions. The Yahsat Space Services unit focuses on upstream satellite operations for both fixed and mobility satellite solutions. The Bayanat Smart Solutions unit integrates geospatial data acquisition and processing with AI to inform decision-making, enhance situational awareness and improve operational efficiency. The company operates across more than 150 countries, reaching over 80% of the world's population. Click here to download infographic The new merged entity has already had several early wins that have bolstered its future growth prospects. In December 2024, Space42 announced an AED18.7 billion (U.S.$5.1 billion) contract with the UAE government to provide secure governmental communications across the Middle East, Africa, Europe and Asia until 2043. The contract underpins Space42's strong financial profile, making up a significant majority of its AED26 billion (U.S.$7.1 billion) backlog of contracted revenues. In January 2025, the company launched its Thuraya 4 telecommunications satellite into a next-generation mobile telecommunications system, Thuraya 4 expands Space42's capabilities and advances the company's plans to launch more than 15 new products to cater to the rapid growth in use cases across various sectors, including defence, government and enterprise. Strategic growth drivers In March, Space42 signed a memorandum of understanding with Nasdaq-listed Viasat Inc., a global mobile satellite services (MSS) operator in L- and S-band spectrum, to explore ecosystem partnership options for developing a 5G Non-Terrestrial Network (NTN) initiative. The collaboration would enable both companies to address the growing opportunities in direct-to-device (D2D) satellite communications to smartphones, narrowband Internet of Things (NB-IoT), and existing and next-generation MSS services. The D2D market is set to reach U.S.$50 billion by 2032. Investment Space42 ended its first quarter with U.S.$895 million in cash and short-term deposits and contracted future revenues of nearly U.S.$7 billion. It also made progress on capturing the next wave of opportunity in spacetech, including government and defence solutions, smart mobility and autonomous systems, direct-to-device connectivity, and AI-powered geospatial and satellite communication services to emerging markets in Africa and Asia, offering solutions for agriculture monitoring and disaster management. Growth through organic and bolt-on acquisitions The company offers strong liquidity, low leverage, a cut-cost-and-grow-stronger approach, and predictable future cash flow underpinned by a financial framework focused on organic investments, bolt-on acquisitions and generating attractive returns. Space42 believes it is positioned to leverage capabilities across three sectors – satellite communications, AI analytics and geospatial services – to unlock value for customers, partners and shareholders and position itself as global leader. Its overarching position as a dual-use player brings further unique opportunities and ability to scale. The company also aims to tap the global high-altitude platform station (HAPS) market, offering the full suite of HAPS products and solutions. To boost its presence in the market, Mira Aersopace, a subsidiary of Space42, created the MENA region's first HAPS manufacturing centre in Abu Dhabi. The new facility will significantly enhance Mira Aerospace's production capabilities, drive advanced R&D, support the commercialisation of HAPS technology and lay the foundation for long-term, sustainable growth. ESG leadership Standard & Poor's (S&P) recognised Space42 as one of the Top 3 Sustainability Companies in the UAE. Yahsat, the predecessor of the Yahsat Space Services unit of Space42, achieved notable recognition as one of the top 10 most sustainable companies in the Middle East, securing the sixth and third positions in the region and UAE rankings respectively, as per the S&P Global ESG Scores. The company plans to enhance its sustainability governance by establishing an ESG Committee as part of a Sustainability Strategy and Roadmap update in 2025, and implement the sustainability agenda across Space42. Space and AI market outlook Space42 is positioning itself as a strategic enabler of the UAE's long-term ambitions, aligning its operations with the National Space Strategy 2030 and the AI Strategy 2031. The company stands to benefit from a rapidly expanding global space economy, projected to nearly triple to U.S.$1.8 trillion by 2035 from U.S.$630 billion in 2023. At the same time, the global AI market is expected to surge to U.S.$1.8 trillion by 2030, up from U.S.$279 billion in 2024. With capabilities spanning both sectors, Space42 sits at the intersection of two transformative growth trends. Looking ahead Space42 has major ambitions to be a leader in several growth areas, including geospatial intelligence and AI platform services, non-terrestrial connectivity (NTN) and secure connectivity. To find out more, visit the company's page on To invest, contact one of the ADX brokers now.
Zawya
20-05-2025
- Business
- Zawya
Abu Dhabi's Space42 set to make earth observation satellites
Abu Dhabi's Space42 is set to launch the MENA's first earth observation satellite manufacturing hub after its subsidiary Mira Aerospace opened the region's first High Altitude Platform Stations manufacturing center in Abu Dhabi. The efforts are part of plans to advance UAE's Earth Observation (EO) Space Program, designed to build capabilities in satellite-based remote sensing. Abu Dhabi Securities Exchange-listed Space42 was created through the merger of Abu Dhabi companies Bayanat and Yahsat. Its major shareholders include other Abu Dhabi entities, including G42, Mubadala and the International Holding Company (IHC) . The company last year won a $5 billion 17-year contract from the UAE government to produce new satellites. In October, the UAE government set up the Supreme Space Council to develop the country's space sector, oversee the public policies, and set up a framework for managing infrastructure, facilities, and assets in space sector. (Writing by Brinda Darasha; editing by Daniel Luiz)
The National
18-04-2025
- Business
- The National
Timeframe: When the UAE's Yahsat launched its first commercial telecoms satellite in 2011
The suspense must have been suffocating as the countdown began at the Guiana Space Centre on the evening of April 22, 2011. Mere weeks before, the team had been preparing for the same launch when on the last seconds of the countdown, an abnormality was detected on the rocket launcher. The lift-off had to be cancelled. The Ariane 5 ECA rocket was wheeled back into the spaceport's assembly building and an actuator was replaced before the rocket was approved for a second attempt. This time, however, there would be no hiccups. The countdown progressed steadily and, at its conclusion, those behind screen in the control room were temporarily blinded by the rocket's flames and within seconds it had begun its fight. The UAE's Yahsat had launched its first commercial telecoms satellite. Yahsat, or Al Yah Satellite Communications Co, is owned by Mubadala Development, a strategic investment company controlled by the Abu Dhabi government. Its first satellite would provide TV and broadband internet to more than 20 countries in Africa, Asia and the Middle East. The launch marked "a significant step forward for Abu Dhabi's economic diversification and growth', Jassem al Zaabi, Yahsat's chief executive at the time, told The National. 'We were anxious because of last time but we know that everything must be aligned and work perfectly, and so with the great weather and engines running smoothly, we were extremely happy and proud to watch the satellite take off after more than four years worth of work towards this,' he said. "It was a great moment.' The Y1A satellite was the first of several Yahsat launched. The move was part of a Dh4.4 billion ($1.2 billion) investment, and marked a major step in the UAE's aim to diversify its economy and become a regional hub in technology and communications.
