Israel Aerospace Industries (IAI) (www.iai.co.il) and Effective Space — a company with headquarters in the UK, pioneering “last-mile logistics in space” — have signed a ‘term sheet’ for co-operation that includes both technological and financial partnerships.

Effective Space will appoint IAI as the primary contractor for its Space Drone spacecraft, while IAI will work to complete the necessary approvals for equity investment in Effective Space (www.effective.space).

With Space Drone, Effective Space is developing a small spacecraft designed to dock with satellites in (geosynchronous Earth orbit) that are reaching the end of their normal life expectancy; it will provide station-keeping, attitude-control and relocation services (plus de-orbiting) and could provide an extra 15 years of life for the satellite.

The company’s first contract, signed in 2017 with an international satellite operator, will see two Space Drone spacecraft launched in 2020 to extend the life of two satellites.

Arie Halsband, founder and CEO of Effective Space, said: “IAI is globally recognised as a leader in the development and construction of commercial-satellite technologies, and in particular those with high performance and a ‘small form’ factor.

"IAI’s intention to directly invest in Effective Space is a strong endorsement of our Space Drone programme and an indication of the potential return for investors from this new era of logistics in space and in-space robotics.”