Telesat Lightspeed to Receive $400 Million Investment from the Government of Québec

  • The Lightspeed program is expected to bring $1.8 billion of investment into the Québec aerospace sector, creating 600 new highly-skilled, high-paying jobs and billions of dollars in economic growth.
  • Telesat selects Canada’s MDA to deliver the state-of-the-art phased array antennas for Lightspeed satellites.
  • Telesat’s prime contractor, Thales Alenia Space, will establish the Lightspeed satellites’ final assembly and manufacturing in Québec and is in discussions with Québec-based partners.

MONTRÉAL (Telesat PR) – Telesat, one of the world’s largest satellite operators, announced today that it has entered into a Memorandum of Understanding (MOU) with the Government of Québec for an investment of $400 million [US $317 million] into Telesat Lightspeed, Telesat’s highly advanced Low Earth Orbit (LEO) satellite network. Telesat will invest $1.6 billion [US $1.27 billion] into Québec, both directly and through its supply chain, which will include a significant portion of Lightspeed manufacturing and operations. The Lightspeed program will create 600 high-paying STEM jobs, leverage Québec’s substantial aerospace expertise and infrastructure, and allow the province to harness the significant economic growth from the burgeoning New Space Economy.

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GHGSat Secures US $30 Million in Series B Funding

MONTREAL, 10 September 2020 (GHGSat PR) — GHGSat, the global leader in high resolution greenhouse gas monitoring from space, today announced it has successfully completed the first tranche of Series B funding, raising US $30 million and more than doubling the total amount raised since GHGSat was founded to over US$55m. This latest funding has secured the growth trajectory of the company, enabling it to accelerate construction of its unique fleet of emissions detecting satellites and deployment of analytics to key markets.

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Quebec Grants $14 Million to GHGSat to Support its Growth

Montréal, June 18, 2020 (Qeubec Government PR) — The Québec government, through Investissement Québec, is injecting $14 million [US $10.29 million] into the GHGSat company, which specializes in detecting gas emissions by satellite or by airborne sensors greenhouse gases and other gases from natural sources or produced by human activity.

The Minister of Economy and Innovation and Minister responsible for the Lanaudière region, Mr. Pierre Fitzgibbon, made the announcement today.

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