Glasgow-based small satellite company AAC Clyde Space has announced a strategic investment of more than £11 million from Bonnier Capital, strengthening its ownership structure and positioning the business for long-term growth as demand for space-based intelligence continues to rise.
The space tech, headquartered in Sweden but with a global footprint that includes a satellite manufacturing base in Glasgow, said the investment of 140 million kr (Swedish Krona) marks an important step in the business’s long-term development and will allow it to meet growing demand for space-based intelligence.
Acquiring more than a million new shares, Bonnier Capital becomes the company’s largest stockholder, a partnership which AAC Clyde Space said will provide it with the resources to accelerate priority programmes and finance the growth of its operational capacity.
The investment will aid the firm in its mission to turn space-based intelligence into real-world impact across a variety of applications, including weather monitoring, maritime safety, security, defence, agriculture and forestry.
Most recently, the firm’s Arctic Weather Satellite (AWS), developed by AAC Clyde Space alongside the European Space Agency, officially began feeding data into European weather modelling, promising the best estimates possible of the state of the Earth’s systems.
Onboarding Bonnier will also allow AAC to fully fund its commitments to the INFLECION project, a new satellite constellation for maritime data services co-funded by the UK Space Agency through the European Space Agency.
“With strengthened financing and a committed owner, we can accelerate the delivery of key programmes,” said Luis Gomes, CEO of AAC Clyde Space.
“This includes adding satellite capacity to meet strong demand for maritime data services and advancing INFLECION, the next generation of space-based maritime intelligence.
“The investment gives us the stability and scale to build both near-term capability and future services that provide customers with timely, high-quality space-based intelligence.”
Though parts of the investment are pending approval at AAC Clyde Space’s extraordinary general meeting and from the Swedish Inspectorate of Strategic Products, the company said the deal will strengthen its ownership structure and provide long-term stability.
“Our investment reflects the confidence we have in AAC Clyde Space’s position and the company’s opportunities in a rapidly growing market,” said Carl Backman, CEO of Bonnier Capital.
“The company combines strong technology and capabilities with a clear strategy, and this is the starting point for the investment. As the largest shareholder, we look forward to contributing actively to AAC Clyde Space’s development.”