Telesat Secures $ 400 Million Funding for the Québec Authorities; pronounces antenna producer
Telesat’s prime contractor, Thales Alenia Space, will complete the final assembly and manufacture of the Lightspeed satellites in Québec and is in discussions with partners from Québec.
Telesat announced that it has entered into a Memorandum of Understanding (MOU) with the Québec government for a $ 400 million investment in Telesat Lightspeed, its LEO (Low Earth Orbit) satellite network.
Telesat will invest $ 1.6 billion in Québec directly and through its supply chain, which will comprise a significant portion of the manufacture and operation of Lightspeed. The Lightspeed program will create 600 high-paying STEM jobs, leverage Québec’s vast aerospace expertise and infrastructure, and enable the province to capitalize on the significant economic growth of the burgeoning New Space Economy.
The Quebec government will receive $ 200 million in preferred Telesat equity and will provide the company with a $ 200 million loan under an agreement expected to be signed in the coming months.
Lightspeed aims to bridge the digital divide in Canada and worldwide.
Telesat’s new Québec manufacturing and operating facility, Lightspeed, includes: a network operations center; a satellite control center; a cybersecurity operations center; an engineering lab; and an advanced landing station that provides secure communications links to the constellation.
Telesat also selected the Canadian space company MDA to manufacture the phased array antennas that will be integrated into the Lightspeed satellites. MDA will also manufacture its Lightspeed components in Québec.
Telesat’s prime contractor, Thales Alenia Space, will finalize the manufacture of the advanced Lightspeed satellites at an assembly, integration and testing facility in Québec and is in discussion with partners in Québec.
Speaking of the deal, Dan Goldberg, Telesat President and CEO, said: “Telesat welcomes and appreciates the strong support and involvement of the Québec government in launching Lightspeed, the most ambitious and consistent program in our more than 50-year history. Québec’s extensive aerospace expertise and government leadership and vision for the fast-growing New Space Economy provide Telesat with a largely compelling rationale for significant investments in the province, including manufacturing the Lightspeed satellites and the Establishment of our extensive technical operations. We greatly value the world-class talent and skills in Québec and are excited to welcome that talent to the Telesat family. “
François Legault, Prime Minister of Québec, added: “This news is extraordinary for both the aerospace industry in Québec and Québec as a whole. Sustaining 650 jobs and creating another 600 jobs for about $ 100,000 per year is an example of how Québec will fill the wealth gap with neighboring jurisdictions. I am in politics to achieve this goal. The pandemic will continue to affect aircraft manufacturing. This is the ideal time to accelerate the pace of satellite development, a new and promising field for the aerospace industry. Your government will continue to invest to create better paying jobs in Québec, build a more prosperous Québec, and ensure a prouder Québec! “