CFCP Capital for Colleagues plc

 
TIDMCFCP 
 
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Financials 
 
22 August 2023 
 
CAPITAL FOR COLLEAGUES PLC 
 
(`Capital for Colleagues', `C4C' or the `Company') 
 
PORTFOLIO UPDATE - BRIGHT ASCENSION LIMITED 
 
Capital for Colleagues, the investment vehicle focused on opportunities in the 
Employee Owned Business (`EOB') sector, is pleased to announce a further update 
in respect of its investee company, Bright Ascension Limited (`BAL'). 
 
BAL is an industry-leading space-software technology provider, offering unique 
off-the-shelf software products and solutions for the delivery of space-based 
services, both on spacecraft and on the ground. 
 
Capital for Colleagues is pleased to announce that BAL has been selected to lead 
onboard and ground software development for the 3-year OS2-VOLT mission. The OS2 
-VOLT mission has a total value of around ?12.0 million and is designed to 
evaluate and test radical new real-time techniques and technologies in low Earth 
orbit, aiming to demonstrate products and services within a Versatile Optical 
Laboratory for Telecommunications. 
 
As announced on 30 May 2023, the OS2-VOLT mission is being led by Craft Prospect 
Limited (`CPL'), another C4C investee company, on behalf of the Telecom 
Directorate of the European Space Agency (`ESA') under the ScyLight programme. 
 
BAL expects that HELIX, the end-to-end suite of software products it is 
launching later this year, will form the foundation for the OS2-VOLT 
partnership. The ESA/CPL project will include an extensible and customisable 
downstream software platform to provide high-level tasking and monitoring of the 
space system at the level of delivering data and services to a number of anchor 
customers. BAL will also be leading software development for the upstream side 
of the mission, leveraging products for flight, test and operations software. 
 
Peter Mendham, BAL's CEO, commented: 
 
"Over the past 11 years we have successfully validated our innovative 
engineering in the context of over 40 missions and we are now expanding our 
expertise and understanding of the upstream software technologies to downstream 
services to provide high-level tasking and software-defined flexibility to the 
complete space system, from onboard payloads to in-cloud data processing. This 
ability to connect and optimise integration between building/operating a 
spacecraft and actually delivering data in an easy to use and accessible way 
will open up new innovative opportunities for a large and very diverse number of 
customers." 
 
Alistair Currie, Chief Executive of Capital for Colleagues, said: 
 
"We are delighted that the Bright Ascension team is joining Craft Prospect to 
work on this prestigious ESA backed project. This validation of BAL's technology 
and expertise reinforces our belief in BAL's business and its strong potential." 
 
The Directors of the Company are responsible for the contents of this 
announcement. 
 
**ENDS** 
 
For further information, please visit www.capitalforcolleagues.com or contact: 
 
CAPITAL FOR COLLEAGUES PLC        01985 201 980 
 
Richard Bailey, Chairman 
 
Alistair Currie, Chief Executive 
 
John Lewis, Finance Director 
PETERHOUSE CAPITAL LIMITED        020 7469 0930 
 
Mark Anwyl 
 
Capital for Colleagues plc 
 
Capital for Colleagues is an investment company focused on the UK EOB sector. 
The Company has a proven management team, with a wide network of contacts and 
affiliates, as well as established access to investment opportunities, enabling 
the Company to execute its strategy and capitalise on EOB-focused investment 
opportunities. In addition, the Company educates and assists companies that are 
looking to launch employee ownership schemes, advising them, amongst other 
things, on how to secure investment and achieve their objectives. 
 
Market Abuse Regulation (MAR) Disclosure 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as 
defined in the European Union (Withdrawal) Act 2018). 
 
 
This information was brought to you by Cision http://news.cision.com 
https://news.cision.com/capital-for-colleagues-plc/r/portfolio-update---bright-ascension-limited,c3820916 
 
 
END 
 
 

(END) Dow Jones Newswires

August 22, 2023 02:01 ET (06:01 GMT)

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