Shares in Sky and Space Global Ltd [ASX:SAS] are up 8.3% today thanks to a world first.
What did Sky and Space do?
The company managed to successfully test their nano satellites. SAS managed phone calls, messaging, voice recordings and image transfers on their network. It was also the first time ever that a voice call was made via nano satellites.
If you were wondering, a nano satellite is as the name suggests, a miniature version of a satellite. By making the device smaller, the costs to get them into orbit are far cheaper. This saving can then be passed onto customers.
Which is why SAS is hailing today’s result as a communications breakthrough.
What’s next for Sky and Space?
Today’s success is a critical milestone for the company and validates their efforts. Moving forward they aim to bring their product to the mass market.
SAS is now looking to build 200 satellites by 2020. And they are already generating interest. They recently secured a contract with an African communications company. Hopefully the first of many to come.
It’s a big first step towards reaching their broader goals. Which could end up generating up to US$1 billion worth of revenue when it all comes together.
A big win for a small-cap stock. It’s just reinforces our belief that small-caps are one of the best markets to be involved in at the moment. They potentially offer some of the best returns on the market, as long as you know what to look for. Details here.
Junior Analyst, Money Morning