O.C.E. Technology signs agreement with Shanghai Aerospace Technology Control Institute (SACTI)
O.C.E. Technology (www.ocetechnology.com) today announced an agreement with Shanghai Aerospace Technology Control Institute to supply satellite subsystems into international markets. This agreement represents an estimated €25 million revenue over the next 5 years.
The company made the announcement at the NovaUCD, the Centre New Ventures and Entrepreneurs where it won the company achievement of the year.
The agreement with SACTI is in line with China’s new “Silk Road Initiative” put forward by President Xi Jinping. The initiative promotes cooperation between Chinese and international industry and is reported to be the Chinese project of the century with $8 trillion investment planned for its activities.
The O.C.E. Technology subsystems are derived from those in use in the Chinese space programme and have been operational on Chinese satellites over the past 20 years. The company is currently working with customers in Europe and South Korea to customise these products for the fast-growing commercial satellite market.
O.C.E. Technology, headquartered at NovaUCD, develops software for technical applications and supplies radiation-hardened chip-level components targeted primarily at the space and high-reliability sectors.
The company’s new subsystems can be used to bring a satellite into a desired orientation in space and to a desired spin rate. This latest agreement is a logical cooperation as SACTI are already using high-reliability components as a critical part of its subsystems design.
Barry Kavanagh, CEO, O.C.E. Technology, said, “This new agreement with SACTI will enable OCE to offer the latest proven satellite attitude control systems. OCE’s agreements with Chinese space organisations are the first of their kind worldwide.” He added, “OCE is establishing a growing reputation with Chinese aerospace organisations for initiating international business. This agreement alone represents an estimated €25 million revenue over the next 5 years.”
During the 2018 Paris Space Week visit O.C.E. Technology, an Enterprise Ireland client company, and its European Distributor, Dimac RED, to learn more about the company’s latest range of software and hardware products.
21 December 2017
For further information contact Michelle Doyle, University College Dublin, Communications Manager (Innovation), e: firstname.lastname@example.org , t: + 353 1 716 3700, or Barry Kavanagh, O.C.E. Technology, Business Development, t: +353 1 716 3530 or e: email@example.com.
OCE Technology provides software tools, real-time embedded system design and system-on-a-chip (SoC) and system-in package (SiP) hardware products to international clients, and has recently added a range of satellite subsystems to its portfolio. The unique features of OCE's software tools allow more cost effective embedded systems development. www.ocetechnology.com
Shanghai Aerospace Control Technology Institute (SACTI), is an organisation of 2,200 employees with its headquarters on a 32 acre site in the prestigious Shanghai Minhang aerospace city. SACTI designs and manufactures guidance, navigation and control systems for launch vehicles, satellites, and vehicles for manned spaceflight. Its flight control, photoelectric detection, inertial and servo control technology is among the most advanced available and already in use in space. http://www.sacti.cn/enindex.asp
At NovaUCD, the hub for new ventures and entrepreneurs at University College Dublin, we nurture and support new high-tech and knowledge-intensive companies as part of UCD’s mission. At NovaUCD we provide purpose-built, state-of-the-art incubation facilities alongside a comprehensive business support programme for client companies such as O.C.E. Technology, a UCD spin-in company. NovaUCD has been funded through a unique public-private partnership that includes AIB Bank, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, Goodbody Stockbrokers, UCD and Xilinx. www.ucd.ie/novaucd
For further information on Paris Space Week visit www.paris-space-week.com/
For further information on Dimac RED visit www.dimacred.com/