Oct 12, 2023
OQ Technology Confirms Successful Launch of MACSAT Satellite
Vega mission VV23 lifting off French Guniea
Luxembourg, October 9, 2023 – OQ Technology is thrilled to announce the successful launch of its new Low Earth Orbit (LEO) satellite, MACSAT, aboard Arianespace’s Vega (mission VV23). This pivotal development will strengthen its space and ground infrastructures while broadening its satellite coverage.
The satellite was launched from French Guiana at 10:37 p.m. local time on Sunday, October 8, 2023 (3:37 AM on Monday, October 9, 2023 Luxembourg time) and signal was acquired by a ground station in Lithuania on Sunday 07:24 PM UTC) .
By deploying the MACSAT satellite and augmenting its existing constellation of five satellites in orbit, and with an additional four satellites set for a 2023 launch, OQ Technology underscores its deep commitment to the rapidly growing Satellite IoT market. This market is predicted to exhibit a CAGR of 20% from 2023 to 2032, with an expected valuation of US$ 18 billion by 2032. OQ Technology is strategically positioned at the vanguard of this shift, poised to seize a significant market portion and elevate its commercial achievements.
Omar Qaise, Founder and Chief Executive Officer of OQ Technology, remarked, "We are immensely proud to unveil the successful launch of the MACSAT satellite. I seize this moment to extend gratitude to the Luxembourg Government and the European Space Agency (ESA) for their unwavering trust and support for this mission. This significant stride will bolster both our space and terrestrial infrastructures, and further our commercial triumphs in the future."
At the heart of this revolution lies the integration of 5G technology with Satellite IoT. This combination heralds remarkable commercial advantages for businesses, governments, organizations, and individuals. As we advocate for a more interconnected, intelligent, and efficient world, we are also laying the groundwork for a future that is secure and sustainable.
Moreover, in the midst of rising demand for cellular Direct-to-Device (D2D) services, OQ Technology has emerged as a leader. Since their pioneering Narrowband IoT Waveform mission in 2019, they've successfully connected cellular IoT devices to LEO satellites. As sectors like energy, logistics, agriculture, maritime, and leading telecom firms show increasing interest in satellite cellular IoT solutions, OQ Technology is exceptionally positioned to cater to a wide clientele in the upcoming year.
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About OQ Technology: www.oqtec.com
OQ Technology is the world’s first satellite 5G IoT operator that provides global cellular Internet-of-Things and Machine-to-Machine communication solutions through satellites. The company has successfully implemented and demonstrated Narrowband IoT connectivity over Low Earth Orbit satellites and is deploying a global constellation to provide 5G IoT telecommunication services for mobile operators and customers in industries such as energy, mining, logistics, maritime, agriculture, and defense. The company’s patented technology that can be easily embedded in existing 5G chips allows billions of users around the world to have ubiquitous IoT connectivity anywhere and using both terrestrial and satellite networks.
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