Latest news with #IRIS²
Economic Times
12 hours ago
- Business
- Economic Times
Eutelsat shares surge on deal with French armed forces
Shares in French satellite operator Eutelsat shot 10% higher on Thursday after it said it had signed a 10-year deal with the French government to provide connectivity for the country's armed forces. Under the €1 billion ($1.15 billion) agreement, the French military will have priority access to OneWeb satellites as well as operational and security maintenance, the company said in a statement late Wednesday. The deal also covers the upgrading of satellites for military-grade use, it said. Eutelsat shares climbed as much as 21% in early trade before paring some gains by late morning. Eutelsat has garnered unprecedented attention this year from European governments looking for alternatives to SpaceX's Starlink for internet connectivity. There is a "real appetite" for sovereignty across the industry, CEO Jean-Francois Fallacher said at the Paris Air Show this week, according to an Eutelsat post on X. France's Ministry of the Armed Forces said in a statement that the agreement was part of a programme to strengthen its space communications by supplementing its Syracuse military satellites which are in higher geostationary orbit with a constellation of satellites in low Earth orbit (LEO). "While not entirely unexpected, the deal is a clear positive for Eutelsat, reaffirming the growing strategic relevance of LEO and the EU's push for sovereign satellite capabilities independent of foreign players like Starlink," said Alessandro Cuglietta, analyst at Kepler Cheuvreux. The French ministry also said the deal underlines the importance and strategic nature of Europe's IRIS² programme, which is an EU-backed satellite constellation due to launch in 2030. The deal will also shore up Eutelsat's finances as it works on raising funds for a second generation of its LEO satellites and to fulfil its commitments to the IRIS² project. It needs more than three times the satellites than previously thought, requiring up to €2.2 billion in financing. ($1 = €0.8721)
Time of India
a day ago
- Business
- Time of India
Eutelsat shares surge on deal with French armed forces
Shares in French satellite operator Eutelsat shot 10% higher on Thursday after it said it had signed a 10-year deal with the French government to provide connectivity for the country's armed forces. Under the €1 billion ($1.15 billion) agreement, the French military will have priority access to OneWeb satellites as well as operational and security maintenance, the company said in a statement late Wednesday. The deal also covers the upgrading of satellites for military-grade use, it said. Eutelsat shares climbed as much as 21% in early trade before paring some gains by late morning. Eutelsat has garnered unprecedented attention this year from European governments looking for alternatives to SpaceX's Starlink for internet connectivity. There is a "real appetite" for sovereignty across the industry, CEO Jean-Francois Fallacher said at the Paris Air Show this week, according to an Eutelsat post on X. France's Ministry of the Armed Forces said in a statement that the agreement was part of a programme to strengthen its space communications by supplementing its Syracuse military satellites which are in higher geostationary orbit with a constellation of satellites in low Earth orbit (LEO). "While not entirely unexpected, the deal is a clear positive for Eutelsat, reaffirming the growing strategic relevance of LEO and the EU's push for sovereign satellite capabilities independent of foreign players like Starlink," said Alessandro Cuglietta, analyst at Kepler Cheuvreux. The French ministry also said the deal underlines the importance and strategic nature of Europe's IRIS² programme , which is an EU-backed satellite constellation due to launch in 2030. The deal will also shore up Eutelsat's finances as it works on raising funds for a second generation of its LEO satellites and to fulfil its commitments to the IRIS² project. It needs more than three times the satellites than previously thought, requiring up to €2.2 billion in financing. ($1 = €0.8721)
Time of India
a day ago
- Business
- Time of India
Eutelsat shares surge on deal with French armed forces
Shares in French satellite operator Eutelsat shot 10% higher on Thursday after it said it had signed a 10-year deal with the French government to provide connectivity for the country's armed forces. Under the €1 billion ($1.15 billion) agreement, the French military will have priority access to OneWeb satellites as well as operational and security maintenance, the company said in a statement late Wednesday. The deal also covers the upgrading of satellites for military-grade use, it said. Eutelsat shares climbed as much as 21% in early trade before paring some gains by late morning. Eutelsat has garnered unprecedented attention this year from European governments looking for alternatives to SpaceX's Starlink for internet connectivity. Live Events There is a "real appetite" for sovereignty across the industry, CEO Jean-Francois Fallacher said at the Paris Air Show this week, according to an Eutelsat post on X. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories France's Ministry of the Armed Forces said in a statement that the agreement was part of a programme to strengthen its space communications by supplementing its Syracuse military satellites which are in higher geostationary orbit with a constellation of satellites in low Earth orbit (LEO). "While not entirely unexpected, the deal is a clear positive for Eutelsat, reaffirming the growing strategic relevance of LEO and the EU's push for sovereign satellite capabilities independent of foreign players like Starlink," said Alessandro Cuglietta, analyst at Kepler Cheuvreux. The French ministry also said the deal underlines the importance and strategic nature of Europe's IRIS² programme , which is an EU-backed satellite constellation due to launch in 2030. The deal will also shore up Eutelsat's finances as it works on raising funds for a second generation of its LEO satellites and to fulfil its commitments to the IRIS² project. It needs more than three times the satellites than previously thought, requiring up to €2.2 billion in financing. ($1 = €0.8721)
Yahoo
2 days ago
- Business
- Yahoo
Eutelsat and France's Armed Forces Ministry Reach Landmark Framework Agreement for Low Orbit Satellite Services in the Context of Frances' NEXUS Program
Signaling a strategic evolution in France's space strategy, combining military and civilian resources Underscoring the crucial role of low Earth orbit (LEO) constellations in defense applications Providing strategic in-space resources in advance of the availability of the IRIS² constellation PARIS, June 18, 2025--(BUSINESS WIRE)--Regulatory News: Eutelsat (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) and France's armed forces ministry (Direction générale de l'armement) have today announced a landmark framework agreement on the occasion of the Paris Airshow. The agreement is the embodiment of the NEXUS (Neo-Espace pour de multiples Usages Sécurisés) program launched by the French Ministry of Defence, which aims to reinforce the current French military space communications model by combining military and civilian resources. France reaffirms its commitment to the European IRIS² program, which has been supported from the outset since the French Presidency of the Council of the European Union in 2022. However, the urgency of the international situation means that it cannot wait until then. As the first concrete step in the NEXUS project, the French defense procurement agency (DGA) has reached a 10-year framework agreement, valued at up to €1 billion in expenditure, with Eutelsat, covering the supply of priority-access space resources (notably capacity on Eutelsat's OneWeb LEO constellation), the hosting of ancillary missions for the French armed forces, and operational and security maintenance. The agreement also covers the upgrading and securing of the constellation for military grade use. Jean-Francois Fallacher, Chief Executive Officer of Eutelsat commented: "We are honored at the prospect of supporting the French armed forces through this historic agreement, which underscores the crucial role of low earth orbit satellite capacity in responding to the requirements of contemporary operational theaters. Eutelsat today offers the only commercially operated LEO constellation capable of meeting stringent military standards ahead of the deployment of IRIS². It provides global coverage, low latency, rapid deployment, and adaptability to mobile use cases, attributes validated by successful large-scale experiments conducted with the French Armed Forces." About Eutelsat Group Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 35 Geostationary satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group's unique suite of in-orbit assets enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and the Eutelsat Group employs more than 1,500 people across more than 50 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL). DISCLAIMER The forward-looking statements included herein are for illustrative purposes only and are based on management's views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Group's customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organization's closed pension fund, and foreign exchange risk. Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to reflect any change in events, conditions, assumptions, or circumstances on which any such statements are based, unless so required by applicable law. The information contained in this document is not based on historical fact and should not be construed as a guarantee that the facts or data mentioned will occur. This information is based on data, assumptions and estimates that the Group considers as reasonable. View source version on Contacts Media enquiries Joanna DarlingtonTel. +33 674 521 531jdarlington@ Anita BaltagiTel. +33 643 930 178abaltagi@ Katie DowdTel. +1 202 271 2209kdowd@ Investors Joanna DarlingtonTel. +33 674 521 531jdarlington@ Hugo Laurens-BergeTel. +33 670 80 95 58hlaurensberge@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
2 days ago
- Business
- Business Wire
Eutelsat and France's Armed Forces Ministry Reach Landmark Framework Agreement for Low Orbit Satellite Services in the Context of Frances' NEXUS Program
PARIS--(BUSINESS WIRE)--Regulatory News: Eutelsat (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) and France's armed forces ministry (Direction générale de l'armement) have today announced a landmark framework agreement on the occasion of the Paris Airshow. The agreement is the embodiment of the NEXUS (Neo-Espace pour de multiples Usages Sécurisés) program launched by the French Ministry of Defence, which aims to reinforce the current French military space communications model by combining military and civilian resources. France reaffirms its commitment to the European IRIS² program, which has been supported from the outset since the French Presidency of the Council of the European Union in 2022. However, the urgency of the international situation means that it cannot wait until then. As the first concrete step in the NEXUS project, the French defense procurement agency (DGA) has reached a 10-year framework agreement, valued at up to €1 billion in expenditure, with Eutelsat, covering the supply of priority-access space resources (notably capacity on Eutelsat's OneWeb LEO constellation), the hosting of ancillary missions for the French armed forces, and operational and security maintenance. The agreement also covers the upgrading and securing of the constellation for military grade use. Jean-Francois Fallacher, Chief Executive Officer of Eutelsat commented: 'We are honored at the prospect of supporting the French armed forces through this historic agreement, which underscores the crucial role of low earth orbit satellite capacity in responding to the requirements of contemporary operational theaters. Eutelsat today offers the only commercially operated LEO constellation capable of meeting stringent military standards ahead of the deployment of IRIS². It provides global coverage, low latency, rapid deployment, and adaptability to mobile use cases, attributes validated by successful large-scale experiments conducted with the French Armed Forces.' About Eutelsat Group Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 35 Geostationary satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group's unique suite of in-orbit assets enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and the Eutelsat Group employs more than 1,500 people across more than 50 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL). DISCLAIMER The forward-looking statements included herein are for illustrative purposes only and are based on management's views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Group's customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organization's closed pension fund, and foreign exchange risk. Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to reflect any change in events, conditions, assumptions, or circumstances on which any such statements are based, unless so required by applicable law. The information contained in this document is not based on historical fact and should not be construed as a guarantee that the facts or data mentioned will occur. This information is based on data, assumptions and estimates that the Group considers as reasonable.
