VTB Group and Megafon 1440 signed an agreement on the entry of VTB Bank into the list of participants in the project to create a low-orbit satellite data transmission system. This was reported to CNews by representatives of Megafon.
The main objective of the project is to create a commercially successful service for broadband data transmission at high speeds with minimal delays based on a low-orbit satellite constellation. The system being created will provide global coverage of the entire territory of Russia and the world with a focus on mass consumers from all real sectors of the economy.
From December 2021, Megafon 1440 begins the transformation of the research laboratory model into a vertically integrated company with a full development cycle and serial production required to create a LEO satellite system. In the coming year, the project expects both a multiple growth of existing development teams and the creation of new technological and production units.
As a result of the transaction, Megafon will retain the largest share in the project in the amount of 75%, VTB Group will own 15%, 10% will be retained by the Megafon 1440 team – Alexey Shelobkov, Artem Ikoev and Sergey Stolyarov… The representative of VTB will join the board of directors of Megafon 1440. The bank’s investments will amount to RUB 2 billion.
“During the year of work, the core of the research team was formed and the first significant results were obtained. Now, in parallel with the ongoing modeling of the target space system, we are launching the development of all its key elements – spacecraft, subscriber terminals, ground infrastructure, etc. Also in November 2021, by the decision of the SCRF, our project was allocated the necessary radio frequency bands in the Ka and Ku bands in Russia. Now we are moving on to the most important stage of filing international applications for obtaining permits in other countries, ”said Alexey Shelobkov, General Director of Megafon 1440.