AssureSat Picks Space Systems/Loral to Build Two High-Powered Satellites for Unique New In-Orbit Backup Service.Business Editors EL SEGUNDO, Calif. and NEW YORK--(BUSINESS WIRE)--May 3, 2000 AssureSat also to provide backup protection to Loral Skynet AssureSat(TM), Inc., has awarded a contract to Space Systems/Loral, a subsidiary of Loral Space & Communications, to build two high-powered, specially designed satellites, it was announced today. With these new geostationary Aligned with the earth. Refers to satellites (GEOs) that travel at the same rotational speed as the earth (they are geosynchronous) and are always the same distance from the earth. See GEO. satellites, AssureSat will launch the first in-orbit backup protection service for the world's geostationary fixed satellite service (FSS FSS Federal Supply Service (US General Services Administration) FSS Flight Service Station FSS Family Self-Sufficiency FSS Fixed Satellite Service FSS Forensic Science Service (Great Britain) ) communications satellite operators, beginning in 2002. Under separate agreements, Loral Skynet, a fixed satellite services operator and also a subsidiary of Loral Space & Communications, will become an AssureSat customer once service becomes available, giving Skynet the ability to provide a back-up option to its many valuable customers. In addition, Loral Skynet will provide telemetry, tracking, and control for the AssureSat fleet from its Hawley, Pennsylvania, facility. The satellite manufacturing agreement and the two Loral Skynet agreements are contingent upon AssureSat's completion of necessary financing. AssureSat, Inc. was founded in 1998 to provide backup restoration services to the world's FSS geostationary satellite operators. Its shareholders include Securitas Capital, a global equity investment company funded by Swiss Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Company and Credit Suisse Group, and SpaceVest, L.P., a venture capital fund which makes equity investments solely in the space industry. Loss Prevention Once in orbit, the AssureSat satellites will be able to provide backup protection to most geostationary satellite operators by moving quickly to appropriate orbital slots to take over the communications tasks of malfunctioning spacecraft or those whose launches have failed, thus insuring service for the operator's customers. The two new satellites are scheduled to be launched in 2002. "AssureSat fills an important void in risk management for a high percentage of the world's satellite operators, since an inoperative Void; not active; ineffectual. The term inoperative is commonly used to indicate that some force, such as a statute or contract, is no longer in effect and legally binding upon the persons who were to be, or had been, affected by it. satellite will deprive the operator of revenue equal to two to five times the cost of satellite," Jerry Farrell, president and chief executive officer of AssureSat said. "Satellite insurance can cover the cost of replacing lost hardware, but in-orbit operational backup provides a cost-effective way for a satellite operator to retain customers and protect both its revenue stream and its customer relationships." "Based upon historic satellite launch and in-orbit failure rates, we estimate an average of two or three launch and one to two in-orbit failures a year -- with few options for recovery," Mr. Farrell said. "The need for our unique service is obvious. Indeed, the initial reaction to the concept within the industry has exceeded our own high expectations. We expect to announce additional customers in the upcoming months. We obviously feel that SS/L's excellent reputation for reliability enhances the appeal of our service." Bernard Schwartz, chairman and chief executive officer of Loral, said, "We believe that the AssureSat protection service is an important, positive development for our industry. We are pleased to bring SS/L's record of reliable operation together with AssureSat's plan for a flexible backup service for satellite operators and their customers." Satellite data The unique design of the spacecraft will allow them to operate on all three ITU (International Telecommunication Union, Geneva, Switzerland, www.itu.ch) A telecommunications standards body that is under the auspices of the United Nations. Comprising more than 185 member countries, the ITU sets standards for global telecom networks. region frequency plans, and the antennae will be steerable in flight to offer variable footprint coverage in both the C and Ku frequency bands. The AssureSat satellites will each carry 36 C-band transponders and 36 Ku-band transponders. Total satellite power will be 10 kW at end of life. Loral has begun limited production, with full production to begin upon AssureSat's completion of the required additional financing. The AssureSat spacecraft are based on SS/L's space-proven three-axis, body-stabilized 1300 bus. SS/L's satellites, which have amassed nearly 800 years of reliable on-orbit service, are designed to achieve long useful orbital life through use of bipropellant bi·pro·pel·lant n. A two-component rocket propellant, such as liquid hydrogen and liquid oxygen, fed separately to the combustion chamber as fuel and oxidizer. Also called dipropellant. propulsion and momentum-bias systems for excellent stationkeeping and orbital stability. A system of solar arrays and batteries provides uninterrupted electrical power. The Companies AssureSat's chairman is Mark S. Fowler Mark S. Fowler served as Chairman of the Federal Communications Commission from May 18, 1981 to April 17, 1987.[1] Mark was born in October of 1941 in Toronto, Candada. He received both his Bachelors degree and Juris Doctorate from the University of Florida. , the former chairman of the U.S. Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. (1981-1987). Its CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Jerald F. Farrell, was president of Hughes Communications Galaxy (1984-1996), and president and CEO of Hughes Communications, Inc. (1996-1997). Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Bruce R. Lederman was formerly lead outside counsel for Hughes Communications Inc., and a senior partner at the international law firm of Latham and Watkins. Frederick L. Judge, its executive vice-president, was president and CEO of Linkabit Wireless, Inc., a manufacturer of earth station products, from 1994 to 1999, and senior vice-president and COO of Hughes Communications, Inc. from 1990 to 1994. For more information, visit AssureSat's web site at www.AssureSat.com Space Systems/Loral is a premier designer, manufacturer, and integrator of powerful geostationary (GEO) satellites and satellite systems. SS/L SS/L Space Systems/Loral (Palo Alto, CA) SS/L Space Station/Loral also provides a range of related services, including mission control operations and procurement of launch services. Based in Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. , SS/L has an international list of commercial and governmental customers whose applications include broadband digital communications, wireless telephony, direct-to-home broadcast, video broadcasting, environmental monitoring, and air traffic control. SS/L is ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certified. For more information, visit www.ssloral.com. Loral Skynet of Bedminster, N.J., a subsidiary of Loral Space & Communications, is a leading satellite communications services provider that operates the Telstar satellite fleet, which provides C-band and Ku-band coverage over the continental United States United States territory, including the adjacent territorial waters, located within North America between Canada and Mexico. Also called CONUS. , Hawaii, Alaska, Puerto Rico, and the Caribbean, as well as Europe, Asia, South America, northern Africa and South Africa. Customers lease transponder capacity to distribute network television programming, to collect live video feeds for the reporting of news and events, to provide Internet connectivity to Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. and other users, and to offer direct-to-home and pay-per-view programming, distance learning, educational, and other business television services. Loral Skynet also provides technical consulting, as well as tracking, telemetry, and control of satellite fleets for a wide variety of customers. For more information, visit Loral Skynet's web site at www.loralskynet.com. Loral Space & Communications (NYSE NYSE See: New York Stock Exchange : LOR LOR Letter Of Reprimand (military) LoR Lord of the Rings (J.R.R. Tolkien) LOR Learning Object Repository LOR Linux.Org. ) is a high technology company that concentrates primarily on satellite manufacturing and satellite-based services, including broadcast transponder leasing and value-added services, domestic and international corporate data networks, global wireless telephony, broadband data transmission and content services, Internet services, and international direct-to-home satellite services. For more information, visit www.loral.com |
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