Kleos Space (ASX:KSS) announced that its second satellite cluster, the Polar Vigilance Mission (KSF1), has passed a critical design review milestone and is ready for a mid-year launch aboard a SpaceX Falcon 9 rocket.

The space-powered, Radio Frequency Reconnaissance data-as-a-service (DaaS) company said that the review was conducted in the Netherlands by satellite developer ISISPACE.

This latest development will ensure that the KSF1 satellites can enter the assembly and validation phase – a stage that leads to final integration, testing and delivery of the satellites for launch.

The satellites are scheduled for a mid-2021 launch onboard a SpaceX Falcon 9, under a ride-share contract with Spaceflight Inc.

They will be launched into a 500-600km Sun Synchronous Orbit, complementing Kleos’ Scouting Mission 37 degree orbit – which was successfully launched in early November 2020.

The goal of this latest mission is to detect and geolocate radio frequency transmissions, to be used by governments for their intelligence, surveillance and reconnaissance (ISR) capabilities.

The SpaceX Falcon 9, meanwhile, is the world’s first reusable two stage rocket designed for transport of people and payloads into Earth orbit and beyond. According to SpaceX, the reusability allows it to re-fly the most expensive parts of the rocket, which in turn drives down costs.

Kleos Space CEO, Andy Bowyer, is confident about the mid-year launch schedule.

“Entering the assembly and verification phase of the satellites is a crucial developmental milestone, and ensures we are on schedule to launch in mid-2021. The KSF1 satellite cluster will complement our Scouting Mission satellites, improving the value of our geolocation maritime intelligence data.”

Kleos Space on the move

Kleos has been making grounds on several fronts recently, including its maiden satellite launch last year.

In November, the company successfully launched its Scouting Mission (KSM1) satellites aboard India’s space mission. The satellites were deployed into a 575km, 37 degree inclined orbit – a launch that would generate revenue for the company in Q1 2021.

The company also signed a deal with the Chilean Airforce, which would allow the Airforce to analyse geospatial information data collected by the KSM1 satellites.

On the financial front, for the year ending 31 December 2020, the company reported a loss of EUR4.87 million, an improvement of 39% on pcp. This came on the back of EUR0.17 million in revenues.

Its share price has risen by 120% in the last 12 months to trade at 62c today.


Kleos Space share price chart: