Israel Aerospace sells two satellites to Azerbaijan for $120m

OptSat500 satellite credit: Israel Aerospace Industries
OptSat500 satellite credit: Israel Aerospace Industries

A source close to the deal has told "Globes" that the deal involves OptSat500 satellites, which have a long life and high imaging capabilities.

Israel Aerospace Industries (IAI) today signed an agreement to sell two satellites to Azerbaijan space agency Azercosmos. A source close to the deal has told "Globes" that the deal involves OptSat500 satellites. According to a report in Azerbaijan in April on the matter, the deal is worth $120 million.

These satellites have a long life and high imaging capabilities. Even before their delivery, IAI, which has extensive cooperation with Azerbaijan with the Harop loitering munitions system and the LORA ballistic missile system, will provide training on the required technology and operation.

Moreover, Azercosmos, the national agency of Azerbaijan that is responsible for the satellites, will develop a long-term cooperation with IAI that will include the establishment of innovation and entrepreneurship centers in the field of space in Azerbaijan, academic training in space technology, as well as the opening of a joint business center.

The two new satellites will replace the Azersky satellite, manufactured by Airbus, which was launched in 2014 but from which communication was cut off on April 20.

In recent years, trade between Israel and Azerbaijan has been expanding, amounted to $1.718 billion in 2022. Since then the momentum has continued as the satellite deal demonstrates.

In June, Azerbaijan Ambassador to Israel Mukhtar Mammadov told "Globes," "The award of the tender to IAI to provide satellites proves that the skies are not the limit in relations between the countries."

A struggle between Israel-Azerbaijan and Iran-Armenia blocs

Only recently, a military operation by Azerbaijan finally defeated Armenia, leading to its final withdrawal from Karabakh. This was achieved using advanced weapons made in Israel, including those by IAI. At the same time, relations between the two countries are based not only on the export of Azerbaijani oil to Israel and the import of weapons from Israel, but also on significant cooperation against Tehran.

Azerbaijan, like Iran, is a Shiite country but secular. Therefore, Tehran is trying to undermine it and develop pro-Iranian militias in its territory without success, partly due to Israeli assistance in monitoring and countermeasures. Beyond that, Iran is Armenia's close friend, and in this way a kind of struggle between blocs between Israel-Azerbaijan and Iran-Armenia has been created.

IAI president and CEO, Boaz Levy said, "For IAI, the sky is not a limit but merely the starting point for our systems capabilities. Our commitment to innovation and exploration motivates us to partner with the foremost experts in the global space community, as we ambitiously shape the future of space observation together. IAI is proud of winning the tender for Azerbaijan, and we are sure that this collaboration will propel us to new heights."

Azercosmos chairman Samaddin Asadov added, "This project is unique for both Azercosmos and Israel Aerospace Industries, and will undoubtedly contribute to the development of space cooperation between our countries. I consider our cooperation to be an important step in the development of human capital and space technologies in the country."

Published by Globes, Israel business news - en.globes.co.il - on October 3, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

OptSat500 satellite credit: Israel Aerospace Industries
OptSat500 satellite credit: Israel Aerospace Industries
Moody's, Benjamin Netanyahu, Bezalel Smotrich, credit: Shutter stock, Government Spokesperson, Tali Bogdanovsky Moody's: Political risks weigh on Israel's rating

"Israel's sovereign credit profile reflects very high political risks that have weakened economic and fiscal strength."

Stef Wertheimer  credit: Reuters Industrialist and philanthropist Stef Wertheimer dies aged 98

Wertheimer founded Iscar, which was sold to Warren Buffett's Berkshire Hathaway, and was behind many industrial and social initiatives, as well as having a brief political career.

Island founders Dan Amiga and Mike Fey credit: Antonio Delucci Browser security co Island raises $250m at $5b valuation

The company has developed a communications technology that enables fast remote connection to corporate computers.

Yossi and Shlomi Amir  credit: Jonathan Bloom Shufersal doubles annual profit

Streamlining measures by brothers Yossi and Shlomi Amir since they took control have vastly improved the supermarket chains profitability metrics.

Africa Israel Residence CEO Ronit Eshed Levy credit: Cadya Levy "Jewish communities abroad want to move together to Jerusalem"

Africa Israel Residence CEO Ronit Eshed Levy told the Globes Going Long on Israel investment conference about urban renewal in Jerusalem.

Arkia aircraft credit: Arkia Arkia to introduce business class on New York flights

For the first time in its history Arkia will operate business class with round-trip Tel Aviv New York tickets starting from $3,500.

Knesset passes 2025 budget credit: Noam Moskovitz Knesset Spokesperson Knesset approves 2025 state budget

The NIS 620 billion budget has ballooned by NIS 100 billion and will rely on a fiscal deficit of 4.9% of GDP.

Tel Aviv Stock Exchange  credit: PR Volumes peak on Tel Aviv Stock Exchange

Greater optimism in Israel and a shift away from US markets have brought trading volumes in Tel Aviv to a historical high, but will the trend be sustained?

Volkswagen credit: PR VW announces huge collaboration with Mobileye

A new advanced driving assistance system will be installed in millions of cars annually.

Navina founders Ronen Lavi and Shay Perera credit: Eyal Izhar Israeli clinical AI co Navina raises $55m

Navina equips clinicians and care teams with real-time, data-driven insights that improve the quality of care and financial outcomes.

Yoni Assia  credit: eToro PR Trading platform eToro set for IPO

The company has filed a prospectus with the SEC, showing that its revenue tripled in 2024, with 96% deriving from crypto trading.

Minister of Finance Bezalel Smotrich and Minister of Transport Miri Regev  credit:  Marc Israel Sellem, The Jerusalem Post Deal: Gush Dan congestion charge for Kiryat Shemona railway

Miri Regev is close to final agreement with the Ministry of Finance on funding for her pet project in return for removal of her objection to the congestion charge.

Nakash brothers credit: Aviv Hoffi Nakash brothers set to dissolve Israel partnership

Avi Nakash has fallen out with Joe and Rafi Nakash over his claims that former CEO Avi Hormaro stole rights in the Group's companies, which include Arkia, the Orchid hotel chain and Ampa.

Air Haifa  credit: ATR Paphos ban for Israeli airlines continues to May

Air Haifa has postponed the launch of its Haifa-Paphos route until May 1, signaling that the security ban on Israeli airlines using the Cypriot airport will continue in April.

ONE ZERO CEO Eyal Gafni credit: Cadya Levy One Zero CEO: Outdated fees can be avoided with simple awareness

Eyal Gafni told the Globes "Going Long on Israel" Conference that with higher awareness the public can stop keeping their money in current accounts with zero returns.

Shekels credit: Shutterstock Vladerina32 Shekel rebounds on volatile forex market

Without a further trigger, such as an escalation on the security front or a further deterioration in political stability, there is no expectation in the market for foreign exchange turmoil.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018