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SES and Luxembourg Government Renew Orbital Concession, Establish New Fund for Space Sector

BusinessWire_EN 
0 0 29.11.19
SES and Luxembourg Government Renew Orbital Concession, Establish New Fund for Space Sector
 

SES and the Luxembourg Government announced today that they have reached an agreement to renew SES’s concession to operate satellites flying under Luxembourg jurisdiction for 20 years, effective from January 2022 when the current concession expires, with an annual fee of EUR 1 million from 2025 onwards. As part of the agreement and starting from 2022, SES will also contribute a maximum of EUR 7 million per year into a fund to support and strengthen the Luxembourg space sector as well as benefit the wider local economy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191129005253/en/

SES and Luxembourg Government Renew Orbital Concession, Establish New Fund for Space Sector (Photo: Business Wire)

SES and Luxembourg Government Renew Orbital Concession, Establish New Fund for Space Sector (Photo: Business Wire)

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About SES

SES is the world’s leading satellite operator with over 70 satellites in two different orbits, Geostationary Orbit (GEO) and Medium Earth Orbit (MEO). It provides a diverse range of customers with global video distribution and data connectivity services through two business units: SES Video and SES Networks. SES Video reaches over 355 million TV homes, through Direct-to-Home (DTH) platforms and cable, terrestrial, and IPTV networks globally. SES Video delivers a full suite of innovative end-to-end value-added services for both linear and digital distribution, and includes the ASTRA satellite system, which has the largest DTH television reach in Europe. SES Networks provides global managed data services, connecting people in a variety of sectors including telecommunications, maritime, aeronautical, and energy, as well as governments and institutions across the world. The SES Networks portfolio includes GovSat, a 50/50 public-private partnership between SES and the Luxembourg government, and O3b, the only non-geostationary system delivering fibre-like broadband services today. Further information is available at: www.ses.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20191129005253/en/

SES S.A. Stock

€5.46
-8.920%
Heavy losses for SES S.A. today as the stock fell by -€0.535 (-8.920%).

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