Wed, Sep 08, 2004
Will Help Finance ConeXpress OLEV
The Swedish Space Corporation is in
advanced negotiations on a significant strategic investment in
When completed, the Swedish company will join Dutch Space of The
Netherlands as part of the team that is financing the design and
development of Orbital Recovery’s ConeXpress Orbital Life
Extension Vehicle (CX OLEV) space tug.
"Swedish Space Corporation is strategically very important for
us, and this further demonstrates our commitment to European
industry and know-how," said Orbital Recovery Ltd. Chief Executive
Officer Phil Braden. "The company will bring to our team its
significant and unique experience, most recently as prime
contractor for Europe’s SMART-1 lunar exploration spacecraft.
Launched in September 2003, SMART-1 currently is en-route to the
moon using the same electric propulsion and data handling systems
proposed for the CX OLEV."
Orbital Recovery recently successfully completed its mid-term
review of the B1 Phase of its program, which is funded by the
company and the European Space Agency under its ARTES 4
Public-Private Partnership initiative.
The CX OLEV will serve as an orbital "tugboat" - providing the
propulsion, navigation and guidance required to maintain
telecommunications satellites in their proper orbits for years
beyond the normal fuel depletion. Primary mission of the CX OLEV
will be to prolong the in-service lifetimes of expensive
geostationary orbit telecommunications satellites, which currently
are junked when their on-board fuel supply runs out. The space tug
will also be equipped for other essential services to operators,
such as to provide the graveyard burn or effect plane changes for
The marketing campaign the CX OLEV is also underway, and
advanced discussions are being held with several operators for
early missions of the space tug. As a result, allocation of flight
opportunities has begun, and the initial launch slots are in the
process of being assigned.
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