Telesat is one of the world’s largest satellite operators and is developing Telesat Lightspeed, a LEO constellation initially comprised of 298 advanced satellites designed to deliver multiple Gbps speeds and fibre-like connectivity. Lightspeed is optimized to meet the requirements of telecom, government, maritime and aeronautical customers and will operate under Telesat’s Ka-band spectrum rights. The company says the network will expand affordable broadband and LTE/5G connectivity across Canada and globally and aims to support STEM jobs and academic programs in Canada. With the announced Government of Canada investment and other sources, Telesat reports arrangements for approximately CAD 4 billion to fund Lightspeed and expects to secure remaining commitments in the near term. As part of the program Telesat will commit to significant Canadian capital expenditures for the initial and subsequent constellations and to grow its Canadian workforce and co-op/scholarship programs. Telesat is privately held and headquartered in Ottawa, with principal shareholders including Canada’s Public Sector Pension Investment Board and Loral Space & Communications. Telesat is building and testing low-earth-orbit (LEO) satellite technologies aimed at boosting broadband internet access in rural, remote and northern areas. The company says its space-based system will provide a dramatic improvement over existing satellites by operating much closer to Earth, reducing latency and improving speeds. The current funding announced will be used to build and test those LEO systems. Telesat has entered a preliminary agreement with the Canadian government to provide "privileged access" to the planned satellite network to help narrow connectivity gaps. The government said the arrangement could support delivery of C$1.2 billion in affordable high-speed internet and may extend privileged access beyond isolated communities, including government and military use. The company is based in Ottawa and the announcement ties into broader federal commitments to expand high-speed internet nationwide.

Total raised

$1.2B

Funding rounds

3

Latest round

Debt Financing

Latest activity

Aug 2021