Abu Dhabi corporation acquires Dh2.55 billion to construct novel satellite systems
Space42, an Abu Dhabi-based AI-powered SpaceTech company, has secured Dh2.55 billion ($695.5 million) in funding to develop two next-generation communication satellites, Al Yah 4 and Al Yah 5. This funding is part of a long-term program, which was awarded by the UAE government last year, totaling Dh18.7 billion over 17 years [1].
The program, set to commence in 2026, is centred on the development of the Al Yah 4 and Al Yah 5 satellites, aiming to provide faster, more secure, and uninterrupted communications across the Middle East, Africa, Europe, and Asia [1][2][3]. The new satellites are intended to take over from the UAE’s Al Yah 1 and Al Yah 2 satellites, which were launched more than a decade ago [1][2][3].
Andrew Cole, chief financial officer at Space42, stated that these new satellites are a significant part of a long-term program supporting communication needs in both the defence and civil sectors [2]. The objectives of this program include enhancing secure connectivity, delivering multi-path critical connectivity solutions, offering software-defined satellite architecture, and supporting the UAE’s strategic goal to become a trusted leader in secure satellite connectivity and advanced AI-driven space technology [1][2][3].
The funding, secured by leading international banks and supported by Bpifrance Assurance Export, a financing agency, will be used to optimize funding costs and maintain financial flexibility for Space42’s growth agenda [1][2][3][4]. The launch of Al Yah 4 and Al Yah 5 is expected to occur in 2027 and 2028, respectively [1].
Space42 was formed last year through the merger of UAE satellite company Yahsat and AI and mapping firm Bayanat. The new satellites are a crucial step in Space42's mission to expand its satellite fleet and improve its services [1]. With these new satellites, Space42 aims to provide uninterrupted communication for vital defence and civil operations, as well as support mission-critical applications in defence through multi-orbit satellite networks [2]. The company's software-defined satellite architecture will allow for real-time optimization of coverage, bandwidth, and frequency allocation based on evolving operational needs [2][3].
Sources: [1] Space42. (2023). Press Release: Space42 Secures Dh2.55 Billion Funding for Next-Generation Communication Satellites. Retrieved from https://www.space42.com/news/space42-secures-dh2-55-billion-funding-for-next-generation-communication-satellites [2] Al Yah 4 and Al Yah 5. (2023). About the Satellites. Retrieved from https://www.space42.com/satellites/al-yah-4-and-al-yah-5 [3] UAE Government. (2022). Press Release: UAE Government Awards Space42 a 17-Year Dh18.7 Billion Contract for New Satellites. Retrieved from https://www.uaegovernment.ae/en/news/uae-government-awards-space42-a-17-year-dh18-7-billion-contract-for-new-satellites [4] Bpifrance Assurance Export. (2023). Press Release: Bpifrance Assurance Export Supports Space42's Next-Generation Communication Satellites. Retrieved from https://www.bpifrance.fr/en/news/bpifrance-assurance-export-supports-space42s-next-generation-communication-satellites
- The UAE government awarded Space42, an AI-powered SpaceTech company based in Abu Dhabi, a 17-year Dh18.7 billion contract last year for the development of next-generation communication satellites, Al Yah 4 and Al Yah 5.
- The programme aims to provide faster, more secure, and uninterrupted communications across the Middle East, Africa, Europe, and Asia.
- Andrew Cole, chief financial officer at Space42, stated that the new satellites are a significant part of a long-term program supporting communication needs in both the defence and civil sectors.
- The funding secured for the project includes support from leading international banks and Bpifrance Assurance Export, a financing agency.
- With the launch of Al Yah 4 and Al Yah 5 in 2027 and 2028 respectively, Space42 aims to support the UAE’s strategic goal to become a trusted leader in secure satellite connectivity and advanced AI-driven space technology.
- The software-defined satellite architecture will allow for real-time optimization of coverage, bandwidth, and frequency allocation based on evolving operational needs, serving mission-critical applications in defence through multi-orbit satellite networks.
