Breaking News: Emirati Royal Family Affiliate Invests $100 Million in New Satellite Manufacturing Venture in UAE
In a groundbreaking move, a holding company connected to an Emirati royal family is injecting over $100 million into a new joint venture between Marlan Space and startup Loft Orbital, aimed at boosting the UAE's domestic satellite manufacturing capabilities.
The joint venture, named Orbitworks, will be the first commercial firm in the UAE to mass manufacture satellites. With Marlan Space holding majority ownership, this venture is backed by the International Holding Company, which is controlled by the Royal Group, owned by the ruling royal family of Abu Dhabi.
The UAE has shown strong ambitions in the space sector, with the UAE Space Agency (UAESA) investing billions in developing homegrown capabilities and forming partnerships with other countries and commercial entities. The country has recently achieved milestones like sending an astronaut to the ISS and putting a probe into Martian orbit.
The emergence of Orbitworks adds to the growing space ecosystem in the UAE, alongside key players like Space42, EDGE Group, and various universities and research institutions. Loft Orbital's CEO expressed excitement about contributing to the UAE's space industry, highlighting the startup's ability to work with diverse players in the region.
Orbitworks plans to manufacture up to fifty 500-kilogram satellites annually, with the first satellite platform expected to be assembled by early 2025. The venture aims to become a national champion in satellite constellation production, with Loft Orbital ensuring compliance with U.S. regulations and export licenses.
In conclusion, this investment signals a significant advancement in the UAE's space capabilities, opening doors for collaboration and innovation in the region. The growth of Orbitworks could have far-reaching implications for the country's economy and technological development, positioning the UAE as a key player in the global space industry.