OCE Technology Signs €25 Million Deal
O.C.E. Technology has announced an agreement with Shanghai Aerospace Technology Control Institute to supply satellite subsystems into international markets. This agreement represents an estimated €25 million revenue over the next 5 years.
The agreement with SACTI is in line with China’s new “Silk Road Initiative” put forward by President Xi Jinping. The initiative promotes cooperation between Chinese and international industry and is reported to be the Chinese project of the century with $8 trillion investment planned for its activities.
The O.C.E. Technology subsystems are derived from those in use in the Chinese space programme and have been operational on Chinese satellites over the past 20 years. The company is currently working with customers in Europe and South Korea to customise these products for the fast-growing commercial satellite market.
O.C.E. Technology, headquartered at NovaUCD, develops software for technical applications and supplies radiation-hardened chip-level components targeted primarily at the space and high-reliability sectors.
The company’s new subsystems can be used to bring a satellite into a desired orientation in space and to a desired spin rate. This latest agreement is a logical cooperation as SACTI are already using high-reliability components as a critical part of its subsystems design.
Barry Kavanagh (pictured), CEO of O.C.E. Technology, said: “This new agreement with SACTI will enable OCE to offer the latest proven satellite attitude control systems. OCE’s agreements with Chinese space organisations are the first of their kind worldwide.” He added, “OCE is establishing a growing reputation with Chinese aerospace organisations for initiating international business. This agreement alone represents an estimated €25 million revenue over the next 5 years.”
During the 2018 Paris Space Week visit O.C.E. Technology, an Enterprise Ireland client company, and its European Distributor, Dimac RED, to learn more about the company’s latest range of software and hardware products.