© rawpixelimages dreamstime.com Electronics Production | July 06, 2018
AST&Science gets investment for satellite technology
The global marketing company Cisneros has made an equity investment in AST&Science which will accelerate development and deployment AST&Science’s patented low-Earth-orbit (LEO) satellite technology.
AST&Science is a technology company founded by space industry entrepreneur Abel Avellan. His latest venture will use AST&Science’s patented technology to transform the way LEO satellites are designed, manufactured, launched and used in space to enable a broad range of commercial and defense applications. Cisneros was founded in 1929 and is a global marketing company. Cisneros Media produces content in 12 languages that is distributed in over 100 countries, reaching over half a billion people globally. “Cisneros’ deep and broad experience in media and telecoms, which includes the launching of DirectTV in Latin America, will provide a very valuable perspective as we prepare to launch our space technologies to market,” said Avellan in a press release. Earlier this year, AST&Science acquired a controlling interest in the European satellite company NanoAvionics. The company is also investing USD 25 million to build an additional manufacturing facility in the United States for high-volume production of its ultra-small satellites, called Microns. “Investing in AST&Science fits perfectly within our focus as a company. At Cisneros we thrive at building global businesses. Through AST&Science we will help to create market disruption through the use of satellites once again”, said Adriana Cisneros, CEO of Cisneros.