This follows the initial binding letter in 2016, with Sat-Space Africa the company’s first wholesale operator.
Sky and Space's shares are trading 7.7% higher at $0.21 in the first 40 minutes of today's session.
Details of the contract
Today's contract defines the full commercial terms for purchasing services from Sky and Space, along with Sat-Space Africa’s role with other customers.
Once the full Sky and Space Global Equatorial Constellation is deployed, potential revenues from customers via Sat- Space Africa will be between US$10 million to US$35 million annually.
This binding commercial contract provides further confidence in Sky and Space’s nano-satellite constellation and technical capability.
Plan to build 200 nano-satellites
Sky and Space’s overall mission is to build a constellation of 200 nano-satellites to cover the equatorial belt by 2020.
In doing so, the company will be completing its strategy to provide affordable communication services to Anyone, Anywhere, Anytime.
3 Diamonds will now commence the commercial operations testing phase.