Telesat is planning to build a satellite network Lightspeed to compete with OneWeb and SpaceX's Starlink, and will complete the merger with Loral Space Communications. The merger means that Telesat's shares will be traded on the Nasdaq and Toronto Stock Exchanges.

Telesat said: "We have begun to develop what we believe will be the world's most advanced low earth orbit (LEO) satellite and integrated ground infrastructure, called Telesat Lightspeed, a platform designed to revolutionize the provision of broadband connections worldwide." The project Cost 5 billion US dollars. This move means that competition in the LEO market is becoming more and more fierce. SpaceX's Starlink has already been put into operation, OneWeb is about to be put into use, and Amazon's Project Kuiper is now expected to be put into use together with two test satellites in 2022.

The TelesatSEC filing added: "Telesat Lightspeed has the potential to change the global satellite and terrestrial communications industry, increase the company's potential market from approximately US$18 billion to approximately US$365 billion, and significantly expand its growth potential." It will benefit. Based on its "long-established and stable" business using 15 geostationary (GEO) satellites, "and through continued development and deployment of TelesatLightspeed, to take advantage of the growing demand for global broadband connections." Lightspeed will use 298 interconnected LEO satellites "combined with complex integrated ground infrastructure to create a fiber-like broadband network from the air for global commercial and government users." Fewer than 300 satellites will operate 1,000 kilometers above the earth, which means that Lightspeed's network will be smaller than any of its competitors. OneWeb plans the first batch of 648 satellites, which will be put into use in early 2022; SpaceX plans to build thousands of Starlink satellites; Amazon has a license for 3,236 Kuiper satellites.

Telesat stated in a document submitted to the SEC that the Lightspeed fleet will provide "comprehensive global coverage while concentrating capacity in the geographical areas where demand is highest. Additional satellites and ground facilities can be added to the network to meet the growing number of users." Demand.” The company said it has a revenue commitment worth $663 million, including a contract with the Canadian government. In addition, Ontario, Canada has purchased a dedicated capacity pool for TelesatLightspeed worth US$109 million, "provided to Canadian Internet service providers and mobile network operators at a substantially reduced price." In August 2021, the Canadian government stated that it would provide a loan of 709 million Canadian dollars for the project and make an equity investment of 650 million Canadian dollars, for a total of 1.4 billion Canadian dollars.Editor/XingWentao