On April 24, 2012, NewSat signed its recent satellite communications deal, bringing the total value of the Jabiru satellite contracts to $571 million, said CEO Adrian Ballintine. The pre-launch contract is for the purchase of satellite transmission capacity for a US satellite communications provider. NewSat said the contract was worth $13 million, but it refused to name the customer, citing competitive and commercial reasons.The buyer is a long-term satellite service customer that plans to expand its Middle Eastern coverage. It has links to a major US government agency and international firms. The Jabiru-1 satellite is expected to be launched into geostationary orbit in 2014, providing Ka band service across Africa, Asia and the Middle East. Jabiru 1 is currently on its fourth month of construction, courtesy of Lockheed Martin.
Mr Ballintine looks to completing the funds for the manufacturing and launching of the Ka-band satellite. As NewSat continues to win multi-million dollar worth of pre-launch deals, the company attracted foreign investors during the recent ASX-sponsored investment roadshows in London and New York.
Over the past months, the local satellite firm signed some of its biggest pre-launch contracts, including a $US32.4 million five-year deal with a Cooperation Council for the Arab States of the Gulf (GCC) company and $67 million, ten-year agreement with a Middle Eastern telecommunications company.