Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Capital for Colleagues PLC on Tuesday said its portfolio company, Bright Ascension Ltd, has been selected to provide software development services for a European Space Agency mission.
The Warminster, England-based investor, which focuses on employee-owned businesses, said the Dundee, Scotland-based company provides ‘unique off-the-shelf’ products and solutions for the delivery of space-based services.
BAL has been selected to lead onboard and ground software development for the European Space Agency’s OS2-VOLT mission, which is valued at around €12.0 million. The three-year mission is designed to evaluate and test new real-time techniques and technologies in low Earth orbit.
C4C had previously announced in late May that OS2-VOLT will be led by another of its investee companies, Craft Prospects Ltd, which will be acting on behalf of the ESA’s Telecom Directorate under its ScyLight programme.
‘We are delighted that the Bright Ascension team is joining Craft Prospect to work on this prestigious ESA backed project,’ said Chief Executive Alistair Currie. ‘This validation of BAL’s technology and expertise reinforces our belief in BAL’s business and its strong potential.’
C4C said that BAL expects the Helix suite of software products, which it means to launch later this year, to form the foundation of its work on the mission.
The company said the project ‘will include an extensible and customisable downstream software platform to provide high-level tasking and monitoring of the space system at the level of delivering data and services to a number of anchor customers.
‘BAL will also be leading software development for the upstream side of the mission, leveraging products for flight, test and operations software.’
C4C shares were untraded at 62.50 pence in London on Tuesday. They last traded publicly on August 17.
Copyright 2023 Alliance News Ltd. All Rights Reserved.