Swedish Space Corporation Sells NanoSpace

Swedish Space CorporationSOLNA, Sweden (SSC PR) — Swedish Space Corporation (SSC) has sold 100% of the shares of NanoSpace AB, a wholly owned subsidiary of SSC, to GS Sweden AB (publ), the parent company of GomSpace ApS.

NanoSpace, a provider of novel MEMS based technologies and propulsion systems for nanosatellites, started its operation in 2005 and has been a fully owned subsidiary of SSC since 2006. In the wake of SSC revised strategy to become a leading global provider of advanced space services, NanoSpace needed to become part of a leading technology development group with global reach. Current exciting industry trends with a propelling interest in small satellites as well as the success of NanoSpace development made Gome Space a good new home for NanoSpace.

GomSpace is a Danish space company listed on the Nasdaq First North Premier exchange in Stockholm. Its mission is to be engaged in the global market for space systems by introducing new products, i.e. components, platforms and systems targeting commercial nanosatellite missions and amongst them large constellations of satellites. This requires propulsion, which is achieved using technology and products developed by NanoSpace.

NanoSpace’s propulsion technology and products are based on its leading expertise in applying MEMS (Micro Electro Mechanical Systems) technology to space propulsion – providing unique advantages in miniaturization and precise thrust control. A first successful flight of the systems provided by NanoSpace was made in September 2015. Only two weeks ago NanoSpace was selected by the Swiss company ELSE to deliver propulsion systems to the Astrocast satellite constellation. The two first test satellites will fly 2017 and thereafter more than 100 satellites will be launched over the coming years .

NanoSpace will continue as a wholly owned subsidiary of GomSpace and retain its business operations and its entire staff in Uppsala, Sweden.