PARIS, France & Luxembourg & Madrid, Spain:
SpaceRISE, the consortium comprising Eutelsat (ISIN: FR0010221234 – Euronext Paris / London Stock Exchange: ETL), Hispasat and SES (Ticker: SESG), together with other core members, is pleased to announce it has been awarded by the European Commission to design, deliver, and operate IRIS², the European Union’s pioneering multi-orbit connectivity system. This milestone represents a crucial step towards establishing a secure, resilient, and autonomous communications infrastructure for Europe.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241031794269/en/
Interconnected Multi-Orbit System. Credit: SES
IRIS² will play a transformative role in reinforcing Europe’s resilience, digital sovereignty, and low-latency connectivity for all EU Member States. This IRIS² multi-orbit satellite system is intended to enhance Europe’s ability to respond to crises, protect essential infrastructure, and bridge the digital divide. With full operational status targeted for the early 2030s, IRIS² will deliver a secure and competitive communications backbone aligned with Europe’s strategic and digital priorities.
The IRIS2 programme is a public private partnership (PPP) which will be funded by a combination of EU, European Space Agency and private financing from the three satellite operators within the SpaceRISE consortium.
The consortium looks forward to the final phase of the procurement process leading to contract signature expected by the year end.
Eva Berneke, Chief Executive Officer of Eutelsat commented: “The IRIS² programme is a powerful extension of Eutelsat’s commitment to advancing Europe’s digital sovereignty through sustained investment in multi-orbit technology to deliver multi-layered, low-latency networks, which are essential to Europe’s strategic resilience. We are proud to support the EU on this project alongside the consortium partners to deliver a resilient, future-ready communication system that meets Europe’s most critical connectivity needs, while generating value-creation for Eutelsat and its stakeholders by complementing and enhancing our existing LEO capabilities.”
Miguel Ángel Panduro, Chief Executive Officer of Hispasat added: “We are firmly committed to everything that IRIS² represents: a sovereign secure communications system, supported by European innovative developments and driven by public-private partnership. It is an ambitious project, in which the companies of the SpaceRISE consortium are working to offer the best response to the demands of the European Union. This award is an exciting first step of a project that will define the future of satellite communications in Europe.”
Adel Al-Saleh, Chief Executive Officer of SES said:“Being selected as a trusted partner for IRIS² is an honour. SpaceRISE, based on the European Union’s requirements will define and develop a future-proof space network that will serve as the cornerstone of Europe’s space and defence strategies in the years to come. The IRIS² system is aligned with SES’s multi-orbit network and underscores our commitment to advancing our MEO capabilities, as well as having access to LEO orbit. We will continue to ensure that the contract meets our IRR requirements, cash generation fundamentals, and investment grade metrics.”
About SpaceRISE
SpaceRISE which stands for Space Consortium for a Resilient, Interconnected and Secure Europe isdedicated to fostering a resilient, interconnected, and secure Europe through space innovation. Comprising Europe’s key space and telecom companies including Airbus Defence and Space, Deutsche Telekom, Eutelsat, Hisdesat, Hispasat, OHB, Orange, SES, Telespazio, Thales Alenia Space, and Thales, SpaceRISE aims to bring SMEs and New Space players together in a multi-national footprint throughout the EU27 Member States to expand its collaboration. By harnessing the strengths of established industry leaders and emerging innovators, SpaceRISE is set to drive Europe’s secure and sustainable future in space.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241031794269/en/
