December 16, 2024
Hispasat will be responsible for designing, delivering and operating the governmental ground segment of IRIS² for the provision of secure telecommunications services to Member States.
It will also lead the development and operation of the Low LEO layer, which will embark innovative missions and ensure the participation of the European New Space ecosystem.
Backed by €6.5 billion of public funds, the multi-orbital satellite network project will enable Europe's autonomy in strategic communications.
This EU flagship project will have 290 satellites and will be in service in 2030.
Madrid, December 16, 2024. SpaceRISE, the consortium formed by Eutelsat, Hispasat and SES, signed today, at a ceremony at the European Commission headquarters in Brussels, the agreement by which the consortium will design, build and operate the Infrastructure for Resilience, Interconnectivity and Security by Satellite (IRIS²) for 12 years.
With a network of 290 new Low Earth Orbit (LEO) and Medium Earth Orbit (MEO) satellites expected to enter service in 2030, the IRIS² constellation is a flagship project of the European Union and aims to achieve an interconnected and secure Europe.
Through a public-private partnership model, IRIS² will be supported by €6.5 billion of public funding (representing over 60% of the total project investment) from the European Commission, EU Member States and the European Space Agency. This public investment will be complemented by private funding from the three consortium members.
The investment of Hispasat in IRIS² could amount to up to 600 million euros, subject to the final design of the constellation and the verification of different parameters to be confirmed at the preliminary design milestone of the project. This investment gives the company access to non-geostationary orbit capabilities in regions of high strategic interest and business relevance. The aim is to complement the portfolio of products with which the Hispasat Group presents itself to the market today, expanding its geographical areas and business verticals. Part of this investment is linked to access to capacities in military bands that remain surplus or to the incorporation of payloads of interest that must be analysed and evaluated during the first year of the contract.
This commitment to multiorbital solutions responds to the strategy defined by the company in its Strategic Plan and meets the financial principles required by its shareholders. From 2025, Hispasat expects to generate revenues and EBITDA linked to the work related to the design and acquisition phases of the system.
Hispasat is responsible for the design, deliver and operation of the IRIS² ground segment, including all the facilities necessary for the management and operation of the different orbital layers of the constellation, as well as the interconnection with terrestrial networks. The ground segment will have different locations (control centres, service stations, telecontrol and telemetry), guaranteeing the strict security and resilience requirements inherent to such a governmental communications system.
Within the consortium, Hispasat assumes the role of responsible for the operation and provision of services to the Member States, which will include the identification of the catalogue of services, the design of the concept of operations, the procedures for its implementation and the service provision schemes to be developed.
In addition, the company will lead the very low orbital layer (Low LEO) of the constellation, designed to operate below 750 km altitude. It will embark on innovative missions, interconnected with the rest of the constellation, which will contribute to boosting the ecosystem of European start-ups and SMEs and to developing the most cutting-edge solutions in space.
Pedro Duque, President of Hispasat, declared that "the participation of Hispasat in the IRIS2 program is a decision of great importance for Spain. It is essential that our country takes advantage of this opportunity to invest in Europe's future space developments. For Hispasat, it is also a key strategic project that reinforces our position at the forefront of the European sector."
Miguel Angel Panduro, CEO of Hispasat, said that "the signing of IRIS² is a historic milestone for space in Europe. Our company was born from the public-private partnership to provide governmental and commercial communications in geographic areas of interest for our country. Therefore, we are convinced that, through SpaceRISE, we will not only guarantee secure communications for member countries, but also contribute to generate a more innovative and competitive ecosystem at a time of special relevance for the European space industry."
About Hispasat
Hispasat, Redeia's communications satellite operator, is the main driver of innovation in the Spanish aerospace sector and works with the aim of helping citizens to solve the difficulties of broadband internet connection to overcome the digital divide and promote sustainable development of society. It is a communications bridge between Europe and America as a provider of broadband and connectivity services. It is also a leader in the broadcasting and distribution of audiovisual content in Spanish and Portuguese.
For more information, please contact us:
Víctor Inchausti: +34 667 31 29 48; vinchausti@hispasat.com
Mar Díaz-Varela: +34 629 90 01 19; mdiazvarela@hispasat.com
