Iridium Announces Date for Fourth Iridium® NEXT Launch
October 19 2017 - 8:01AM
Iridium Communications Inc. (NASDAQ:IRDM) announced today that the
fourth Iridium NEXT launch has been targeted by SpaceX for December
22, 2017 at 5:26 p.m. PT [1:26 a.m. UTC on Dec. 23], from
Vandenberg Air Force Base. This launch signifies the mid-way point
of the Iridium NEXT launch program and will deliver another 10
satellites to orbit, bringing the total number deployed to 40.
Targeted for just over two months after the third Iridium NEXT
launch, this December date enables Iridium to maintain its planned
cadence of completing all launches by mid-2018, even with SpaceX’s
busy launch manifest.
To date, 30 Iridium NEXT satellites have been deployed, many of
which are already providing service to customers. The new
satellites are also now undergoing on-orbit testing for Iridium
CertusSM, a major milestone on the path to introducing the
company’s next generation broadband service. Iridium Certus
will feature small form factor, cost-effective terminals and
antennas, and ultimately offer the fastest L-band broadband
solution available, supported by the world's only truly global
network.
In addition to the fourth launch date, Iridium also announced it
has reached agreement with SpaceX to utilize flight-proven first
stages for the next two Iridium launches. Iridium conducted
extensive due diligence work and is fully confident in the SpaceX
booster refurbishment program.
“I believe that reusability is the future for satellite
launches, and I think SpaceX has intelligently built their Falcon 9
program around this strategy,” said Iridium CEO Matt Desch. “With
three successful flight-proven Falcon 9 launches already this year,
we’re excited to show leadership towards the sustainable access to
space, while also making sure we maintain our cadence to complete
the five remaining Iridium NEXT launches by the middle of next
year.”
Iridium confirmed with its insurers that there is no increase in
premium for the launch program as a result of the use of
flight-proven Falcon 9 rockets, further supporting Iridium’s
conclusion that the risk profile is unchanged.
Iridium NEXT is the company’s $3 billion, next-generation,
mobile, global satellite network scheduled for completion in 2018.
Iridium NEXT will replace the company’s existing global
constellation in one of the largest technology upgrades ever
completed in space. It represents the evolution of critical
communications infrastructure that governments and organizations
worldwide rely upon to drive business, enable connectivity, empower
disaster relief efforts and more. Iridium NEXT will enable and
introduce new services like the company’s next-generation
communications platform, Iridium Certus, and the AireonSM
space-based ADS-B aircraft surveillance and flight tracking
network.
For more information about Iridium NEXT, please visit
www.IridiumNEXT.com.
About Iridium Communications Inc.
Iridium is the only mobile voice and data satellite
communications network that spans the entire globe. Iridium enables
connections between people, organizations and assets to and from
anywhere, in real time. Together with its ecosystem of partner
companies, Iridium delivers an innovative and rich portfolio of
reliable solutions for markets that require truly global
communications. The company has a major development program
underway for its next-generation network — Iridium NEXT. Iridium
Communications Inc. is headquartered in McLean, Va., U.S.A., and
its common stock trades on the NASDAQ Global Select Market under
the ticker symbol IRDM. For more information about Iridium
products, services and partner solutions, visit
www.iridium.com.
Forward Looking Statements
Statements in this press release that are not
purely historical facts may constitute forward-looking statements
as defined in the Private Securities Litigation Reform Act of 1995.
The Company has based these statements on its current expectations
and the information currently available to us. Forward-looking
statements in this press release include statements regarding the
timing for deployment, development and capabilities of the Iridium
NEXT constellation and services to be offered over the
constellation, including Iridium Certus and Aireon. Forward-looking
statements can be identified by the words “anticipates,” “may,”
“can,” “believes,” “expects,” “projects,” “intends,” “likely,”
“will,” “to be” and other expressions that are predictions or
indicate future events, trends or prospects. These forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of Iridium to differ materially from any future
results, performance or achievements expressed or implied by such
forward-looking statements. These risks and uncertainties include,
but are not limited to, uncertainties regarding potential delays in
the Iridium NEXT deployment, the development and functionality of
Iridium NEXT and related services, and the company’s ability to
maintain the health, capacity and content of its satellite
constellation, as well as general industry and economic conditions,
and competitive, legal, governmental and technological factors.
Other factors that could cause actual results to differ materially
from those indicated by the forward-looking statements include
those factors listed under the caption “Risk Factors” in the
Company’s Form 10-K for the year ended December 31, 2016, filed
with the Securities and Exchange Commission (the “SEC”) on February
23, 2017, as well as other filings Iridium makes with the SEC from
time to time. There is no assurance that Iridium’s expectations
will be realized. If one or more of these risks or uncertainties
materialize, or if Iridium's underlying assumptions prove
incorrect, actual results may vary materially from those expected,
estimated or projected. Iridium's forward-looking statements speak
only as of the date of this press release, and Iridium undertakes
no obligation to update forward-looking statements.
Press Contact:Jordan HassinIridium
Communications Inc.+1 (703) 287-7421Jordan.Hassin@Iridium.com
Twitter: @Iridiumcomm
Investor Contact:Kenneth LevyIridium Communications Inc.+1 (703)
287-7570Ken.Levy@Iridium.comTwitter: @IridiumIR
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