MCLEAN, Va., Oct. 19, 2017 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (NASDAQ:IRDM) announced today that the fourth Iridium NEXT launch has been targeted by SpaceX for December 22, 2017 at 5:26 p.m. PT [1:26 a.m. UTC on Dec. 23], from Vandenberg Air Force Base. This launch signifies the mid-way point of the Iridium NEXT launch program and will deliver another 10 satellites to orbit, bringing the total number deployed to 40. Targeted for just over two months after the third Iridium NEXT launch, this December date enables Iridium to maintain its planned cadence of completing all launches by mid-2018, even with SpaceX's busy launch manifest.
To date, 30 Iridium NEXT satellites have been deployed, many of which are already providing service to customers. The new satellites are also now undergoing on-orbit testing for Iridium CertusSM, a major milestone on the path to introducing the company's next generation broadband service. Iridium Certus will feature small form factor, cost-effective terminals and antennas, and ultimately offer the fastest L-band broadband solution available, supported by the world's only truly global network.
In addition to the fourth launch date, Iridium also announced it has reached agreement with SpaceX to utilize flight-proven first stages for the next two Iridium launches. Iridium conducted extensive due diligence work and is fully confident in the SpaceX booster refurbishment program.
"I believe that reusability is the future for satellite launches, and I think SpaceX has intelligently built their Falcon 9 program around this strategy," said Iridium CEO Matt Desch. "With three successful flight-proven Falcon 9 launches already this year, we're excited to show leadership towards the sustainable access to space, while also making sure we maintain our cadence to complete the five remaining Iridium NEXT launches by the middle of next year."
Iridium confirmed with its insurers that there is no increase in premium for the launch program as a result of the use of flight-proven Falcon 9 rockets, further supporting Iridium's conclusion that the risk profile is unchanged.
Iridium NEXT is the company's $3 billion, next-generation, mobile, global satellite network scheduled for completion in 2018. Iridium NEXT will replace the company's existing global constellation in one of the largest technology upgrades ever completed in space. It represents the evolution of critical communications infrastructure that governments and organizations worldwide rely upon to drive business, enable connectivity, empower disaster relief efforts and more. Iridium NEXT will enable and introduce new services like the company's next-generation communications platform, Iridium Certus, and the AireonSM space-based ADS-B aircraft surveillance and flight tracking network.
For more information about Iridium NEXT, please visit www.IridiumNEXT.com.
About Iridium Communications Inc.
Iridium is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. The company has a major development program underway for its next-generation network — Iridium NEXT. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the NASDAQ Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.
Forward Looking Statements
Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this press release include statements regarding the timing for deployment, development and capabilities of the Iridium NEXT constellation and services to be offered over the constellation, including Iridium Certus and Aireon. Forward-looking statements can be identified by the words "anticipates," "may," "can," "believes," "expects," "projects," "intends," "likely," "will," "to be" and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding potential delays in the Iridium NEXT deployment, the development and functionality of Iridium NEXT and related services, and the company's ability to maintain the health, capacity and content of its satellite constellation, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2016, filed with the Securities and Exchange Commission (the "SEC") on February 23, 2017, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium's expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium's underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium's forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.
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