AST&Science Announces Majority Investment in NanoAvionics
AST&Science announced that it has closed on the purchase of a controlling interest in the European satellite manufacturer and system integrator NanoAvionics. All the key executives and management team of NanoAvionics will remain unchanged under the leadership of Chief Executive Officer (CEO) Vytenis Buzas and Chief Commercial Officer (CCO) Linas Sargautis, both founders of the company.
Abel Avellan, chairman and CEO of AST&Science, will become chairman of the board of NanoAvionics. According to Avellan, the investment into NanoAvionics will be used to expand its manufacturing capabilities both in Europe and the United States.
“NanoAvionics has made a huge leap in small satellite technologies during the past few years. The capital infusion, along with the involvement of the broadly experienced AST&Science management team, will be a significant contributing factor in entering the U.S. market and successful further commercialization of our products. Our combined venture will be focused on a goal to become a go-to company for manufacturing and launching small satellite constellations for businesses worldwide,” said Buzas.
In June 2017, NanoAvionics launched its second satellite under the European Commission’s QB50 project dedicated to atmospheric research. In addition to the scientific study, the satellite performed an important validation of a green chemical propulsion system for smallsats developed by NanoAvionics.