Megafon, VTB Group and MegaFon 1440 signed an agreement on the entry of VTB Bank into the list of participants in the project to create a low-orbit satellite data transmission system. This is stated in a press release received on December 29 by Izvestia.
The objective of the project is to create a commercially successful service for broadband data transmission at high speeds with minimal delays based on a low-orbit satellite constellation. This system will provide global coverage of the Earth with a focus on mass consumers from all real sectors of the economy.
The bank’s investments in the project will amount to 2 billion rubles. As early as December 2021, Megafon 1440 begins the transformation of a research laboratory model into a vertically integrated company with a full cycle of development and serial production, which is necessary to create a LEO satellite system. An important stage in the further development of the project will be attracting VTB as an investor.
In the coming year, the project expects both a multiple growth of existing development teams and the creation of new technological and production units.
Megafon will retain the largest share in the project in the amount of 75%, VTB Group will own 15%, 10% will be retained by the Megafon 1440 team – Alexey Shelobkov, Artem Ikoev and Sergey Stolyarov. The representative of VTB will join the board of directors of Megafon 1440.
“VTB’s strategy is aimed, among other things, at supporting and developing projects in the digital economy and new high-tech industries. The creation of a modern satellite data transmission system is an ambitious, technologically complex project that will open up wide opportunities for the development of entire sectors of the economy, ”said Yuri Solovyov, First Deputy Chairman of VTB Management Board.
According to Aleksey Shelobkov, General Director of Megafon 1440, the core of the research team has been formed in a year of work, and the first results have been obtained. In parallel with the ongoing modeling of the target space system, the development of all its key elements will be launched.
In November, the project was allocated the necessary radio frequency bands in the Ka and Ku bands in Russia, and currently international applications for obtaining permits in other countries are starting, he added.
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