Startup OverHorizon AB Stays Mum on Financing
OverHorizon AB of Sweden, which for more than two years has said it would build one or more Ku-band satellites to appeal to allied militaries interested in highly mobile communications, declined to shed light on whether it has raised the necessary funds to carry out its plans.
Solna-based OverHorizon has apparently secured orbital-slot licenses from the government of Cyprus, but whether these positions and the associated satellite-broadcast frequencies have been cleared with neighboring satellite operators is unclear. Under standard international orbital-slot and broadcast-frequency rules, a satellite entering service must avoid interference with established satellites that were registered earlier.
OverHorizon President James Gerow did little to dispel doubts about the company’s ability to deliver on its business plan in the current economic environment, saying only: “We are doing well on the financing side.” He conceded that prospective government customers are unlikely to back the project until a satellite is under contract.