In its first Berlin Equity initiated research coverage, Kleos Space announced it intends to commercialise the generated Data as a Service (DaaS) to governments, defence ministries and private customers.
Space-powered Radio Frequency Reconnaissance data provider Kleos Space S.A., based in Luxemburg, has announced that First Berlin Equity has initiated research coverage on the company. Analyst Christian Orquera placed a BUY rating on the stock, with a price target of ?0.27.
Kleos is a young “new space” technology company that will soon operate a constellation of nanosatellites in space capable of scanning the earth for radio frequency (RF) signals.
The company’s nanosatellites will focus on signals from the maritime industry. Kleos’ proprietary technology will enable precise geolocation and identification of ships, and can be used to identify activities such as illegal fishing, illegal immigration, piracy, sea smuggling and contraband.
The company intends to commercialise the generated Data as a Service (DaaS) to governments, defence ministries and private customers. The rocket launch of the first system comprising four nanosatellites is targeted for the end of Q2 of 2019.
Following a positioning and calibration process of one to two months, Kleos is poised to generate first revenues shortly thereafter. Six signed non-binding Memorandums of Understanding (MoUs), one of them potentially worth up to ?3m, underscore the interest of potential clients.
Kleos, with its headquarters in Luxembourg and subsidiaries in the UK and Australia, is one of two companies with space-based RF capabilities active in the field. With the first scouting satellites launch planned for approx. June/19, Kleos is on track to be the first company offering its products to European and Australian customers.
?Kleos is about to reach a significant milestone and we will see first revenues with the launch of the Kleos Scouting Mission in the coming months,? commented CEO, Kleos, Andy Bowyer.
?We look forward to working closely with the MMR Corporate team to deliver successful outcomes for the benefit of the company and our shareholders,? he added.
Kleos Space aims to guard borders, protect assets and save lives by delivering global activity-based intelligence and geolocation as a service. The first Kleos Space satellite system, known as Kleos Scouting Mission (KSM), will deliver commercially available data and perform as a technology demonstration. KSM will be the keystone for a later global high capacity constellation. The Scouting Mission will deliver targeted daily services with the full constellation delivering near-realtime global observation.
