Beam Communications Holdings Ltd. (ASX: BCC, “Beam” or the “Company”) has signed a binding contract with Iridium Communications Inc. (NASDAQ: IRDM) for the development and supply of a new Iridium Certus® device that is scheduled for launch later this year.
This agreement includes a minimum order for the devices from Beam’s long-standing partner, Iridium, that will generate at least $12 million (or more than AU$16 million) in revenue for the Company within the first five years.
First deliveries of the device are scheduled for the second half of calendar 2022, although as with any development project, this is subject to change due to factors outside Beam’s control. Beam will provide more information following the commercial launch of the product by Iridium.
Beam Communications Holdings Limited is an Australian publicly-listed company (ASX:BCC) that specialises in the design, development, manufacture and distribution of satellite, cellular and dual-mode equipment applications and services. Beam has developed several world-first innovations and its products and services are adopted by some of the world’s largest satellite and telecommunications companies, such as Iridium, Telstra, KDDI, Inmarsat and Thuraya. Beam also developed the multi-award winning ZOLEO device, which generates recurring subscription revenues for the Group. Beam Communications Holdings Limited owns 100% of Beam Communications Pty Ltd and SatPhone Shop Pty Ltd www.satphoneshop.com