by Staff Writers
Aventura FL (SPX) Apr 30, 2010
Sanswire has announced that defense contractor Global Telesat Corp. (GTC) has agreed to purchase a 50% interest in one SkySat airship for $250,000, with an option to purchase the remaining 50% for an additional $750,000.
The SkySat is Sanswire's mid-altitude, lighter-than-air, UAV platform. The airship was initially designed for intelligence, surveillance, and reconnaissance (ISR) missions performed at altitudes up to 45,000 ft. Sanswire and Global Telesat intend to upgrade the airship to improve its viability for multipurpose defense and communications operations.
More specifically, the two companies plan to develop a flexible platform allowing the SkySat to accommodate a range of customer requirements.
The agreement states that Sanswire will initially receive $250,000 from Global Telesat in exchange for a 50% interest in one SkySat airship.
Sanwire will immediately deliver the existing airship to a facility designated by Global Telesat, whereupon GTC will make a first payment of $50,000 within three days of inspection. This payment will be followed by four additional payments of $50,000, each at 30-day intervals.
Sanswire also granted Global Telesat the option to acquire the remaining 50% interest in the airship for an additional $750,000. GTC must make an initial payment of $250,000 within ten business days upon exercising the option, followed by two additional payments of $250,000, each at 30-day intervals. The option expires on December 31, 2010.
Global Telesat agreed to the purchase following recent meetings with potential customers, strategic partners and defense contractors. GTC requires that Sanswire utilize the $250,000 in proceeds to complete development work that will enable the airship to be tested and demonstrated to potential customers.
The companies plan to work closely together, as well as with third-party US government-certified defense contractors, to integrate approved ground station controls and electronics packages into the airship.
GTC has already partnered with Sanswire to develop the STS-111 UAV, a flexible multi-segmented airship that began flight-testing in December 2009.
Sanswire's Chairman of the Board, Major General Wayne P. Jackson (US Army, Ret.), stated: "We are keenly focused on leveraging our existing airships and technologies to generate near-term revenue. We also are expanding our product portfolio of integrated, near-space UAV designs. Our goal is to offer a broad range of low-cost, long-duration surveillance solutions for our customers that can be delivered in a timely and cost-efficient manner."
Space Technology News - Applications and Research
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