SINGAPORE (Apr 25): Addvalue Technologies has inked its first major commercial Inter-Satellite Data Relay System (IDRS) contract with a satellite service provider for the customised design and supply of IDRS terminals, which are to be installed on the customer’s fleet of LEO satellites.

Neither the contract’s value nor the identity of Addvalue’s commercial IDRS customer was disclosed.

See: Addvalue Tech partners KSAT to enhance satellite communication services with IDRS

In a Wednesday filing, Addvalue says its customer intends to deploy a multi-satellite constellation in the near future to provide enhanced data gathering services for its clients.

Based on the terms of the contract, Addvalue is to deliver IDRS terminals in stages to match up with the launch schedule of the satellites, which will form the customer’s multi-satellite constellation.

Additionally, the group is in the midst of finalising an airtime agreement with its customer to provide real-time on-demand IDRS communication service.

Addvalue expects its latest contract win, together with the airtime agreement, to have a positive impact on the group’s financial performance in 2019 and beyond.

As at 12.08pm, shares in Addvalue are trading 2.5% higher at 4.1 cents.