SINGAPORE - Satellite communications company Addvalue Technologies will be sending its hardware to space again, under a new contract with an unspecified aerospace company based in the United States.
Mainboard-listed Addvalue Tech said on Tuesday morning (April 10) that it has entered into an agreement to carry out a feasibility study for the adoption of its inter-satellite data relay system terminal (IDRS) in the US-based company's upcoming space mission for commercial purposes.
Addvalue had previously put an IDRS terminal into orbit in 2015, testing how the technology improves communication between low-earth orbit satellites which have conventionally had connectivity limited to when they are in sight of a planetary station.
Still, the success of the latest feasibility study "will represent a new use of IDRS" beyond low-earth orbit satellites, Addvalue said on Tuesday.
And, unforeseen circumstances aside, the feasibility study could pave the way for "new applications that will contribute meaningfully to the IDRS business, which is expected to have material financial effects on the performance of the group in 2019 and beyond", said the company.
It said the latest deal represents "the beginning of the path" towards Addvalue's commercialisation of the IDRS business.
The board added that the group is still pursuing prospects and other new applications for the IDRS terminal that can expand the scope of business opportunities for the technology.