Kleos Space S.A: First Berlin Equity Research Initiates Coverage – 43c Per Share

Kleos Space S.A. (ASX:KSS, Frankfurt:KS1a), (Kleos or Company) space-powered Radio Frequency Reconnaissance data provider, is pleased to advise that First Berlin Equity has initiated research coverage on the Company. Analyst Christian Orquera placed a BUY rating on the stock, with a price target of €0.27 (AUD 0.43).

Kleos is a young "new space" technology company which will soon operate a constellation of nanosatellites in space capable of scanning the earth for radio frequency (RF) signals. The company's nanosatellites will focus on signals from the maritime industry. Kleos' innovative proprietary technology will enable precise geolocation and identification of ships and can be used to identify activities such as illegal fishing, illegal immigration, piracy, sea smuggling and contraband.

The company intends to commercialise the generated Data as a Service (DaaS) to governments, defence ministries and private customers. The rocket launch of the first system comprising four Nanosatellites is targeted for the end of Q2/19. Following a positioning and calibration process of 1-2 months, Kleos is poised to generate first revenues shortly thereafter.

Six signed non-binding Memorandums of Understanding (MoUs), one of them potentially worth up to €3m, underscore the interest of potential clients. Kleos offers an interesting opportunity to invest in the highly attractive 'new space' field. 

The research report is available on the Kleos website – kleos.space on the following link:

https://kleos.space/wp-content/uploads/2019/05/KSS_AU-2019-05-02_EN.pdf

Kleos CEO, Andy Bowyer said, “Kleos has engaged MMR Corporate to assist the Company in reaching out to investors and media in articulating the Company’s business. Kleos is about to reach a significant milestone and we will see first revenueswith the launch of the Kleos Scouting Mission in the coming months.

“We look forward to working closely with the MMR Corporate team to deliver successful outcomes for the benefit of the Companyand our shareholders.”