EnSilica secures EUR2 million ESA contract for satellite technology

(Alliance News) - EnSilica PLC on Wednesday said it has secured a EUR2.1 million development contract under the European Space Agency's Navigation Innovation & Support programme Element 2.

EnSilica is an Oxford, England-based chip maker of mixed-signal application-specific integrated circuits.

The company said it will focus on developing a "key" silicon component to enable next-generation multi-band global navigation satellite system capabilities, which EnSilica said "are vital to ensuring the world's critical infrastructure and services remain robust and secure in the face of evolving global threats".

EnSilica will receive funding covering 80% of the project's costs under the ESA-backed initiative.

Chief Executive Officer Ian Lankshear said: "This funding will enable us to further enhance global navigation satellite systems technology and continue to develop commercial solutions that are critical for resilient and reliable satellite navigation. We are grateful for the ongoing support from ESA and the UK Space Agency, and we continue to focus on PNT [position, navigation, and timing] and the broader satellite communications market as a key growth driver of our business."

Shares in EnSilica were up 3.2% at 41.70 pence in London on Wednesday morning.

By Eva Castanedo, Alliance News reporter

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