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Globalstar gets FCC greenlight for satellite upgrades and expansion
Globalstar’s stock rose $0.08 (6.4%) to $1.33 on Monday after the company announced that the FCC granted a 15-year license extension to its HIBLEO-4 satellite constellation.
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Globalstar’s stock rose $0.08 (6.4%) to $1.33 on Monday after the company announced that the FCC granted a 15-year license extension to its HIBLEO-4 satellite constellation.
The FCC said it would allow Globalstar to operate up to 26 replacement satellites or “non-geostationary satellite orbit (NGSO) space stations in low-Earth orbit (LEO),” if you’re really into space jargon.
In the FCC’s order, the Commission denied competitor SpaceX’s challenge to Globalstar’s petition. “After review of the record, we conclude that grant in part of Globalstar’s application will serve the public interest, subject to the requirements and conditions specified herein,” the Commission wrote. “We conclude that SpaceX’s arguments are not sufficient to warrant denial or dismissal of Globalstar’s application.”
“The satellite refresh program is expected to result in improved performance and coverage for Globalstar’s mobile satellite services, including Direct to Device satellite connections, around the world,” said Globalstar CEO Dr. Paul Jacobs in the company’s press release. “Achieving this milestone is imperative to Globalstar to enable us to complete our mission of providing critical mobile satellite connectivity and lifesaving technology worldwide.”
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