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IHC-backed Marlan sets up satellite manufacturing JV in Abu Dhabi: Abu Dhabi-based space and deeptech investor and International Holding Company-backed Marlan and US-based startup Loft Orbital have set up a joint venture to mass manufacture satellites for the first time in the Middle East, according to a statement. IHC will pour an initial USD 100 mn investment into the JV, which is dubbed Orbitworks.
Ownership breakdown: While the exact size of the stake each company holds was not disclosed, TechCrunch reports that Marlan holds a majority stake in the JV. “Loft can work with any payload supplier, any bus or subsystem providers, any ground station provider, any cloud provider … We’re providing the JV the playbook for production, operations and technology for satellites,” Loft Orbital CEO Pierre-Damien Vaujour said.
Orbitworks aims to produce up to 50 satellites per year, with the hardware of the first ten already procured and the first of which can be launched as early as 1Q 2024. The company will operate from a 50k sqft facility in Abu Dhabi and the first satellite platform will be assembled and tested by early 2025.
The companies have already started recruiting talent in the UAE and internationally, focusing on hardware, software, test engineering, the statement said.
UAE companies are heavily investing in space projects: Al Yah Satellite Communications Company (Yahsat) launched the UAE’s first low orbit radar satellite this month. The company also will launch two new AED 3.9 bn satellites, Al Yah 4 and Al Yah 5, through SpaceX in 2027 and 2028.
