Hungary First Commercial Satellite Business
Late summer 2020, Hungary announced its interest in launching a national satellite. To this end, a new private/public company, “CarpathiaSat Zrt” was formed with a registered capital of HUF 5 million (USD 16,000) and a capital reserve of 365 million forints (USD 1.16 million). Hungarian IT company 4iG holds a 51 percent controlling stake in the company, terrestrial broadcasting company Antenna Hungary has a 44 percent stake in the venture, and consulting firm New Space Industries holds 5 percent.
CarpathiaSat is managed by Gellert Zoltan Jaszai, who is also the CEO of 4iG, and the space commissioner of the Hungarian Ministry of Foreign Affairs and Trade, Dr. Orsolya Ferencz, sits on the board. 4iG – with a strategic goal to become the leading IT and info-communication company in the Central and Eastern European region and to establish key positions in the telecoms sector – will have a decisive majority in the newly-established consortium.
The launch and operation of the first Hungarian satellite, scheduled for 2024, will open sales opportunities for a wide range of products, services, and solutions ranging from the satellite itself and accessories to the launch services. Hungary’s first commercial satellite will be suitable for broadcasting; internet and telephone services; data transmission; and commercial, governmental, and scientific research missions. In addition to participation from Hungarian universities and researchers in the commercial satellite launch program, 4iG aims to establish a strategic collaboration with domestic and international companies which have significant experience in the space industry.
Because the license for a satellite (section and frequency) was leased to a private foreign company (an Israeli firm) from 2004 and 2024, Hungary will be able to launch its own satellite only after the license period expires. CarpatiaSat plans to use the new license for 20 years, from 2024 through 2044.
For more information contact office.budapest@trade.gov