OCE Technology has signed an agreement with Shanghai Aerospace Technology Control Institute (SACTI) to supply satellite subsystems into international markets. The agreement represents is worth an estimated €25 million over the next five years.
The agreement with SACTI is in line with China’s Silk Road Initiative put forward by President Xi Jinping. The initiative promotes cooperation between Chinese and international industry and is reported to be the Chinese project of the century with $8 trillion investment planned for its activities.
OCE’s subsystems have been used in Chinese satellites over the past 20 years. The company is currently working with customers in Europe and South Korea to customise these products for the commercial satellite market.
Barry Kavanagh, CEO, OCE, said: “This new agreement with SACTI will enable OCE to offer the latest proven satellite attitude control systems. OCE’s agreements with Chinese space organisations are the first of their kind worldwide.”
OCE Technology is based at NovaUCD.
TechCentral Reporters
Subscribers 0
Fans 0
Followers 0
Followers