Tawazun Economic Council (Tawazun) and Al Yah Satellite Communications Company PJSC (“Yahsat” and, together with its subsidiaries, “the Group”) the UAE’s flagship satellite solutions provider, announced the signing of an agreement for the incorporation of their proposed joint venture, Star Technologies, at Dubai Airshow.
Star Technologies will develop best-in-class Satcom capabilities, building upon the strong value proposition already offered to the UAE government by Yahsat Government Solutions, the dedicated government solutions arm of Yahsat (listed on the Abu Dhabi Securities Exchange (“ADX”) under SYMBOL: YAHSAT (ISIN: AEA007501017), creating an opportunity for even greater differentiation and customer excellence in the market.
The long-term mission of Star Technologies is to create value for end-users through a combination of R&D and acquisition and the generation of new intellectual property, forming the core of a self-sustaining Satcom industry in the UAE. Star Technologies will specialize in the engineering, design and in-country manufacturing of customized hardware and software, including advanced satellite modems, small form factor antennas, and tracking solutions.
The company’s mandate is fully aligned with the UAE government’s economic diversification program, to create UAE-made intellectual property while inspiring future generations to enter the space technology industry.
The first product will be a Star Technologies branded IP satellite modem system. This system will complement Yahsat’s existing Satcom capabilities to enable differentiated high-performance solutions and establish an integrated end-to-end commercial offering for multiple end-user segments.
General Manager, Khalid Al Awadhi, a long-standing senior executive in the UAE space industry will lead Star Technologies.
He previously served as the Executive Vice President, Special Projects, Yahsat Government Solutions, and the Director of Space Missions for the UAE Space Agency, where he led complex scientific and exploratory space missions to advance the national space program.
“This joint venture is bound to have an impact, as innovation is in Tawazun and Yahsat’s DNA. This venture is a product of Tawazun’s role to create efficient, resilient, connected and sustainable technologies that reflect the UAE’s strategic goals, especially for the 4th Industrial revolution,” said Tareq Abdulrahman Al Hosani, CEO of Tawazun.
Speaking on the launch of Star Technologies, Ali Al Hashemi, Group Chief Executive Officer at Yahsat, said, “Today’s milestone, jointly achieved with our partners at Tawazun Economic Council, complements our commitment to position the UAE as a global hub for space science and technology while developing talent in the satellite communications sector and inspiring future generations to enter this fast-growing and fascinating industry.”
Al Awadhi said, “I am confident that Star Technologies, with the backing of Yahsat’s extensive network, reach and long-standing government relationships, will be pivotal in cementing the UAE as a leader in satellite-enabled communication technologies.”
The announcement follows the MoU signed between Yahsat and Tawazun Economic Council in February 2021. The incorporation of Star Technologies remains subject to the fulfillment of certain conditions precedent and is expected no later than Q1 2022.
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated feed)
