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Three years expanded lifespan for Ovzon's new satellite Ovzon 3

Following the successful deployment of Ovzon's new satellite, Ovzon 3, the company, based on the assessment from the manufacturer, has determined that the estimated lifespan is 18 years. The satellite is expected to remain operational until 2042. The manufacturer previously calculated the lifespan to be 15 years. This results in reduced annual depreciation of 20 MSEK.

Ovzon 3 was launched on January 3, 2024, and reached its orbit by the end of the second quarter of 2024. The satellite entered into service during the third quarter of 2024 and has therefore been reclassified as a fixed asset, with depreciation having commenced.

"The launch and start of commercial service of Ovzon 3 have been conducted optimally without incidents. Based on data from the manufacturer it has been determined that the lifespan is 18 years. This improves the return on investment for Ovzon on this highly strategic investment", says Ovzon’s CEO Per Norén.

For further information please contact:
Per Norén, CEO, pno@ovzon.com, +1 206 931 7232

About Ovzon
Ovzon offers world-leading integrated mobile satellite communications services, SATCOM-as-a-Service, to customers globally. The services combine high throughput satellite networks, mobile satellite terminals, gateway services, and dedicated customer support. Ovzon's offerings meet the growing demand for mission critical connectivity for customers with high performance, mobility and resiliency requirements such as Defense, National security and Public safety. On July 5, 2024, commercial service commenced on Ovzon’s proprietary developed geostationary satellite Ovzon 3. Ovzon has offices in Stockholm, Sweden as well as Herndon, VA and Tampa, FL in the USA. Ovzon is listed on Nasdaq Stockholm Small Cap. For more information, visit www.ovzon.com.

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Three years expanded lifespan for Ovzon's new satellite Ovzon 3

Datum 2024-11-15, kl 07:55
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Three years expanded lifespan for Ovzon's new satellite Ovzon 3
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