ORBCOMM Announces Successful Launch of Six Satellites
ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focused on providing two way Machine-to-Machine (M2M) communications, today announced that six new ORBCOMM satellites, have been successfully launched from Kapustin Yar, Russia. The launch occurred at 2:36 AM EDT today and the satellites have been successfully separated from the launch vehicle in the proper orbit. Each satellite is undergoing initial in-orbit testing and is expected to enter into commercial service within the next three months.
The Coast Guard and five Quick Launch satellites will be positioned optimally to augment the existing ORBCOMM constellation, providing additional capacity and improved message delivery speeds for current and future ORBCOMM users. In addition, these satellites are equipped with Automatic Identification System (AIS) payloads which will enable them to receive and report AIS transmissions to be used for ship tracking and other navigational activities. ORBCOMM has been working closely with the US Coast Guard on the AIS project, and also intends to market AIS data to other U.S. and international government agencies, as well as to companies whose businesses require such information.
“This is an important step for us and our customers,” said Marc Eisenberg, ORBCOMM’s CEO. “With the successful launch of these six new satellites, we expect to both improve the quality of our service and enter the AIS data services business. The AIS capability onboard these satellites make ORBCOMM the only company capable of providing space based worldwide commercial AIS data services.”
“We are pleased with the efficiency and thoroughness of the launch operation,” said Tony Robinson, ORBCOMM’s Space Segment Vice President. “The Russian Space Forces, OHB-System, Polyot, and ROSCOSMOS provided superior support in helping us to launch these satellites.”
The launch of these six spacecraft is part of ORBCOMM’s long term plan to expand and upgrade its existing constellation of 29 satellites. In May 2008, ORBCOMM announced that it had signed a $117 million contract with Sierra Nevada Corporation for the design, manufacture and delivery of 18 new satellites, with an option to purchase as many as 30 more. Sierra Nevada has formed a strategic team with subcontractors that include Boeing, ITT, Argon ST and MicroSat. ORBCOMM plans to launch the 18 satellites in three separate missions of six satellites each between 2010 and 2011.
About ORBCOMM Inc.
ORBCOMM is a leading global satellite data communications company, focused on Machine-to-Machine (M2M) communications. Its customers include General Electric, Caterpillar Inc., Volvo Group and Komatsu Ltd. among other industry leaders. By means of a global network of 29 low-earth orbit (LEO) satellites and accompanying ground infrastructure, ORBCOMM’s low-cost and reliable two-way data communications products and services track, monitor and control mobile and fixed assets in four core markets: commercial transportation; heavy equipment; industrial fixed assets; and marine/homeland security. The company’s products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. ORBCOMM is headquartered in Fort Lee, New Jersey and has a Network Control Center in Dulles, Virginia. For more information, visit www.orbcomm.com.
Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future operations and are based upon management’s current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Our actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the substantial losses we have incurred and expect to continue to incur; demand for and market acceptance of our products and services and the applications developed by our resellers; loss or decline in business from the Asset Intelligence division of General Electric Company (“GE”), value-added resellers, or VARs, and international value-added resellers, or IVARs; technological changes; pricing pressures and other competitive factors; the inability of our international resellers to develop markets outside the United States; satellite launch failures, satellite launch and construction delays and cost overruns and in-orbit satellite failures or reduced performance; the failure to launch the Coast Guard demonstration satellite by the definitive launch date; the failure of our system or reductions in levels of service due to technological malfunctions or deficiencies or other events; our inability to renew or expand our satellite constellation; financial market conditions and the results of financing efforts; political, legal regulatory, governmental, administrative and economic conditions and developments in the United States and other countries and territories in which we operate; changes in our business strategy; and the other risks described in our filings with the Securities and Exchange Commission. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.