EchoStar Corporation (NASDAQ:SATS) amended its agreement with Maxar Technologies (NYSE:MAXR) (TSX:MAXR) for the production of the EchoStar XXIV satellite, known as Jupiter 3.
The satellite is being produced at Maxar’s facility in Palo Alto, California. The amendment compensates EchoStar for past production delays by offering relief on future payments. It also expands EchoStar’s recourse in case of any other delays.
“Launching and bringing the Hughes JUPITER 3 satellite into service is our highest priority to meet our customers’ needs for connectivity. This agreement ensures that Maxar shares that priority with us and reinforces our joint commitment to complete production of the satellite to world-class standards, as expeditiously as possible,” said Hamid Akhavan, CEO of EchoStar.
#BreakingNews – EchoStar and @Maxar Amend Agreement for @HughesConnects #JUPITER 3 #Satellite Production. "Bringing the Hughes JUPITER 3 satellite into service is our highest priority to meet our customers’ needs for connectivity," Hamid Akhavan, CEO.https://t.co/pABRDHQfRj
— EchoStar (@EchoStar) November 22, 2022
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Jupiter 3 satellite provides better internet speeds
EchoStar provides satellite communication solutions. Hailing from Englewood, Colorado, it conducts business all over the world. The company provides secure communications technologies courtesy of its Hughes Network Systems and EchoStar Satellite Service businesses offerings.
Maxar Technologies provides space solutions and geospatial intelligence. The idea is to provide value to government and commercial customers by helping them observe, comprehend and navigate the planet. Also, the company provides global broadband communication while looking out into space to explore and advance the use of space.
“We look forward to continuing our strong collaboration with EchoStar to complete construction of the JUPITER 3 satellite in line with the current schedule,” said Daniel Jablonsky, president and CEO, Maxar. “This agreement underscores Maxar’s state-of-the-art manufacturing capabilities as we enter into the final phases of construction of this ground-breaking spacecraft.”
Additionally, JUPITER 3 will provide over gigabit per second (Gbps) of satellite capacity, effectively doubling the size of the Hughes JUPITER fleet over North and South America. The addition of the satellite will help develop the capacity to grow the company’s flagship satellite-based internet service, HughesNet. The service will bump bandwidth and speed sufficiently for consumer as well as aeronautical and enterprise customers.
The satellite is going through the final preparatory steps for dynamics testing. The company only has the launch dynamics test, and final spacecraft performance testing before it ships the satellite to the launch base.
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