Israel Aircraft Industries and Rafael Established a Joint Company for Development and Production of Micro-Satellites
Jun 16, 2005
Joint Venture to develop project "Venus"dor the Israel Space Agency and France's Central National d'Etudes Spatiales (CNES)
Israel Aircraft Industries (IAI) and Rafael Armament Development Authority Ltd. (Rafael) signed today at the Paris Air Show an agreement to establish a joint company for the development, production of micro-satellites. The joint venture will develop, produce and market satellites weighing up to120 kg for a variety of civil and military applications.
The company's first venture will be the development of the "Venus" - a micro-satellite developed for Israel Space Agency and France's Centre National d'Etudes Spatiales (CNES). The satellite will be used for scientific and technological monitoring. Applications include agricultural and fisheries monitoring and experiments for the use of electric propulsion technology in space. This initial project has a multi-million dollar budget.
Mrs. Tali Rosenbaum, Director General of the Israeli Ministry of Science & Technology, said at the signing ceremony that "collaboration by Israeli industry will give Israel's scientific and technological base the recognition an exposure it needs."
Mr. Moshe Keret, IAI's President and CEO, stated that "IAI, as Israel's leading developer of space systems, will continue to form cooperative agreements with other Israeli companies for the advancement of innovative space projects."
Vice Admiral (Ret.) Yedidia Yaari, President and CEO of RAFAEL Armament Development Authority, added that "this important technological breakthrough puts Israel at the forefront of international space leadership."
For further information, please contact:
Doron Suslik
Deputy Corp. VP Communications
Tel: 972(3)935 8509
Fax: 972(3)935 8512
Email: hpaz@iai.co.il
Website: www.iai.co.il
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