Sky and Space Global (ASX:SAS) has signed a memorandum of understanding with Beijing Commsat Technology Development to test and explore how the SAS network can be incorporated into the Commsat Internet of Things offering.
Commsat is a Beijing based satellite communications company that is developing a Low Earth Orbit constellation to provide IoT services to users and corporations mainly in China.
Under the terms SAS and Commsat will work collaboratively to test how SAS’ advanced nano-satellite technology can be incorporated to significantly advance the current Commsat network offering.
The Chinese Internet of Things market reached over $143 billion US dollars in 2016 and is expected to exceed US$231.4 billion by the year 2020.
Shares in Sky and Space Global (ASX:SAS) are up 2.38 per cent to 9c.