LONDON (ShareCast) - (Sharecast News) - Chipmaker Ensilica has been awarded £10.38m in funding over the next three years from the UK Space Agency for a development project under its Connectivity in Low Earth Orbit programme.
Ensilica said on Monday that it will develop a family of semiconductor chips to support future generations of best-in-class, highly integrated, mass-market satellite broadband user terminals. The terminals will be capable of connecting with various satellite constellations and will leverage advanced semiconductor technology.

In addition, the AIM-listed firm stated the project will provide "a resilient and secure source of chips" that will be independent and not tied to specific satellite service operators.

Ensilica added that the market potential for satellite user terminals was growing rapidly, as demonstrated by Starlink, and was projected to reach roughly $16.5bn by 2031.

Chief executive Ian Lankshear said: "We are honoured and proud to have won this highly significant award from the UK Space Agency under the C-LEO programme, as we believe satellite communications is an incredibly important sector for EnSilica and one that is fast expanding globally.

"This funding will enable us to advance our technology and bring innovative solutions to the satellite broadband market, with the project expected to be hugely beneficial to society, offering resilient internet connectivity in times of crisis, as well as providing high-speed internet connectivity in remote communities not well served by terrestrial networks."

As of 1145 GMT, Ensilica shares were up 6.43% at 44.70p.











Reporting by Iain Gilbert at Sharecast.com

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