The following is an English version of the official Japanese announcement, which has been given to the Tokyo Stock Exchange and the media in Tokyo, Japan.
March 29, 2022
For Immediate Release
SPARX Group Co., Ltd.
President and Group CEO Shuhei Abe
(TSE1: 8739)
SPARX's Space Frontier Fund Invests in ArkEdge Space, a Builder of Nanosatellite Constellations
-Taking on the cutting edge of humanity with the world's most cutting-edge satellites-
TOKYO-March 29, 2022-SPARX Innovation for Future Co., Ltd. (SIF)-a subsidiary of SPARX Group Co., Ltd. (SPARX; TSE1: 8739)- today announced that its Space Frontier Fund, operating since June 2020, has invested in ArkEdge Space Inc., the builder of nanosatellite constellations for IoT communications, earth observation and maritime domain awareness. ArkEdge Space plans to use the funds raised to accelerate creating and improving its satellite development systems. It also intends to keep building its nanosatellite constellations and develop feasible nanosatellites for lunar constellations by 2025.
Portfolio Company Outline
ArkEdge Space aims aims to accelerate the construction of its nanosatellite constellations while simultaneously building the satellite infrastructure needed for oceanic monitoring and lunar development. The Japanese government has already chosen the firm to participate in its Project for Developing Nanosatellite Constellation Technology and conduct a study on navigation and communication technology development for lunar activities, a strategic project under the Accelerating Space Development and Utilization Program (a.k.a., the Stardust Program).
For more details on ArkEdge Space, visithttps://arkedgespace.com/en/
Space Frontier Fund Overview
The Space Frontier Fund primarily seeks to support human resources and technology development in space-related industries, to foster Japanese space companies that are competitive on the world stage, and to contribute to technological innovation throughout Japan. Under SIF as its manager, the Fund began operations in June 2020 with an initial investment of JPY 9.2 billion from Toyota Motor Corporation, Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, and others.
SIF's homepage:https://sparxsif.com/en/
■ For inquiries related to this release, contact:
Public Relations, SPARX Group Co., Ltd.
Tel: +81-3-6711-9100 / Fax: +81-3-6711-9101pr_media@sparxgroup.com