SWISSto12 Secures CHF 25 Million (€26.15 million) Working Capital Financing Facility from UBS for HummingSat Satellite Business
13.9.2023 08:58:00 EEST | Business Wire | Press release
SWISSto12, one of Europe’s fastest growing satellite and Radio Frequency product manufacturers, has announced securing a CHF 25 million (€26.15 million) working capital facility from UBS Switzerland AG, the multinational universal bank. The facility will provide SWISSto12 with flexible growth capital to meet strong customer demand for its geostationary SmallSat, HummingSat.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230912046607/en/
An illustration of SWISSto12's HummingSat in geostationary orbit. Image credit: SWISSto12 (Graphic: Business Wire)
Since the company was founded in 2011, SWISSto12 has raised over €50 million in venture capital from prominent Swiss and European investors including Constantia New Business (CNB Capital), Swisscom Ventures, Swisscanto and Zürcher Kantonalbank (ZKB). In addition to its growing Radio Frequency product and subsystem business, SWISSto12’s partnership project with the European Space Agency (ESA) has secured over €30 million of support to design the HummingSat platform - the first SmallSat for geostationary orbit.
In 2022, SWISSto12 announced securing a deal to supply a HummingSat satellite to Intelsat, followed in May 2023 by a deal to supply three HummingSats to Inmarsat (acq. Viasat 2023). The company currently has more than €200 million in back orders from customers across its Radio Frequency products and subsystems business, partnership with ESA and recent HummingSat contracts.
Pär Lange, Partner, Swisscom Ventures said, “SWISSto12 is the first ever growth-stage company to sell a whole geostationary satellite to global satellite operators - testament to the uniquely transformative market potential of the HummingSat platform and the team’s technical and commercial acumen. Having generated over €200 million in customer orders, SWISSto12 is also one of the few growth-stage companies able to secure a growth facility of this magnitude from a multinational bank such as UBS - the company is in a tremendously good position to reinvigorate the geostationary communications market on which billions of people depend for broadband, broadcast and safety services.”
Peter Gisler, CEO SERV, said the following: “As the Swiss Export Risk Insurance SERV, we are pleased to help enable this partnership between SWISSto12 and UBS and support SWISSto12 as it seizes new growth opportunities in the global satellite market.”
Emile de Rijk, Founder and CEO of SWISSto12 said, “This CHF 25 million working capital facility with UBS gives us additional agility to execute on the manufacturing and delivery of our first HummingSats and address strong customer demand. With HummingSat, SWISSto12 is creating a new class of agile, high performance SmallSat for geostationary orbit that is approximately three to five times smaller and lower cost than conventional geostationary satellites, while still reliably delivering critical services. We’re excited to build on customer demand from global satellite operators and national governments with our innovative geostationary communications satellites that will better connect and protect users worldwide.”
ABOUT SWISSto12
SWISSto12 is a leading manufacturer of advanced satellite payloads and systems, including the HummingSat: a small yet powerful geostationary telecommunications satellite developed in collaboration with the European Space Agency (ESA) through its public-private-partnership program. HummingSat customers include Intelsat and Inmarsat (acq. Viasat 2023.) SWISSto12’s satellites and payloads benefit from the company’s unique and patented 3D-printing technologies and associated Radio Frequency (RF) product designs that deliver lightweight, compact, highly performing, and competitive RF functionality. Besides its space portfolio, the company is also active in telecommunications, surveillance and radar applications for the aeronautic industry. SWISSto12 has developed commercially with success in Europe, the USA and Israel and is amongst the fastest growing aerospace companies in Europe. SWISSto12 spun off in 2011 from the Swiss Federal Institute of Technology in Lausanne (EPFL), is privately owned and backed by prominent Swiss and European Investors.
About UBS
UBS convenes the global ecosystem for investing, where people and ideas are connected and opportunities brought to life, and provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as to private clients in Switzerland. UBS offers investment solutions, products and impactful thought leadership, is the leading global wealth manager, provides large-scale and diversified asset management, focused investment banking capabilities, and personal and corporate banking services in Switzerland. The firm focuses on businesses that have a strong competitive position in their target markets, are capital efficient and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 30% of its employees working in the Americas, 30% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 21% in Asia Pacific. UBS Group AG employs more than 100,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230912046607/en/
Contact information
For interviews and media assets, contact Olly Cooper, ThoughtLDR at olly@thoughtldr.com +44 7957 004545
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Galderma’s Nemluvio ® (nemolizumab) Demonstrates Long-Term Disease Control in Prurigo Nodularis up to Three Years27.2.2026 08:00:00 EET | Press release
Galderma (SIX: GALD) today announced new data from the OLYMPIA open-label extension study investigating the long-term safety and efficacy of Nemluvio in moderate-to-severe prurigo nodularis.1 Results showed that Nemluvio maintained long-term disease control and a well-tolerated safety profile, with clinically meaningful improvements in itch intensity, skin lesions and quality of life up to three years.1 Results will be presented at 2026 Winter Clinical Miami and build on previous data from OLYMPIA – the largest completed pivotal clinical program in prurigo nodularis and the only one with a LTE study.1,6,7 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260226796734/en/ “Prurigo nodularis is not only intensely itchy, painful and uncomfortable, it can also take a profound toll on sleep, emotional wellbeing, and daily functioning. That’s why achieving sustained, long-term disease control is critical for patients. These data show
Venture Global Announces New Long-Term LNG Partnership with Hanwha of Korea27.2.2026 02:00:00 EET | Press release
Today, Venture Global, Inc. (NYSE: VG) and Hanwha Aerospace Co., Ltd. announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 1.5 million tonnes per annum (MTPA) of U.S. liquefied natural gas (LNG) from Venture Global for twenty years starting in 2030. This agreement brings Venture Global’s long-term contracted portfolio to over 46 MTPA. “Venture Global is thrilled to announce our first long-term supply deal in Korea through a new partnership with Hanwha Aerospace which marks another important step in expanding reliable, long-term LNG supply to our partners in Asia,” said Mike Sabel, CEO of Venture Global. “We are proud to support growing global energy needs with low-cost, secure American LNG while strengthening the strategic energy partnership between the United States and South Korea to support long-term industrial and economic growth.” About Venture Global Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (LNG)
Hydnum Steel Secures 500 MW of Electrical Power, a Key Step Forward in the Construction of Its Clean Steel Plant in Spain27.2.2026 01:00:00 EET | Press release
Hydnum Steel has taken a decisive step towards constructing Spain’s first clean steel plant after being granted access to the electricity grid at the Brazatortas node in the province of Ciudad Real. The company has been granted an electricity capacity of 500 MW, as published in the Official State Gazette, which should be enough to guarantee supply to its electric arc furnace. This concession marks a significant milestone for a pioneering project in the Iberian Peninsula. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225309290/en/ Image recreating the steel plant that Hydnum Steel will build in Puertollano, Spain Hydnum Steel is consolidating its position as a reliable supplier of clean European steel. The fully digitally integrated plant will produce hot-rolled steel coils efficiently and sustainably, with benefits for the environment and the economy. Hydnum Steel will deliver a solution for steel-consuming industries th
1089 Inc. Partners with Price Forbes and Oka-Lloyd's Syndicate 1922 to Launch Market-Defining First: Carbon Asset Insurance Framework for Transportation and Energy Sectors27.2.2026 00:01:00 EET | Press release
1089 Inc., in collaboration with Price Forbes and Oka, The Carbon Insurance Company, announce launch of an insured carbon asset designed to bring institutional safeguards, disciplined financial architecture, and verifiable data integrity to carbon markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260226012782/en/ 1089 Inc. is Advancing Carbon™, focused on evolving global carbon markets and decarbonizing the highest-emitting sectors on the planet: Transportation and Energy. The framework provides defined risk coverage for 1089’s CX89 Advanced Fuels Carbon Assets, underwritten by Lloyd’s Syndicate 1922 and placed with the support of Price Forbes and Oka. The program introduces institutional-grade protection designed to prevent performance losses resulting from credit degradation between wrapping and minting. Luke Hanley, Founder and CEO of 1089 Inc., shared the framework’s core thesis: “The future of carbon markets is no
Sun Nuclear QADS 2026 Event Combines Clinical Insight and New Innovations for Advancing Radiation Therapy QA27.2.2026 00:00:00 EET | Press release
Sun Nuclear, a Mirion Medical company, today opened the QA & Dosimetry Symposium (QADS), taking place over the next two days in Rome, Italy. The 15th installment brings together more than 230 clinical physicists and radiation medicine professionals from nearly 40 countries. Participants from diverse clinical environments will earn continuing education credits while sharing practical insights, emerging approaches, and real-world experiences shaping the future of quality and patient safety in cancer care. Building on its legacy as a peer-driven forum with practical applications, QADS 2026 features sessions delivered by 24 speakers spanning: Future Directions in Machine and Patient QA and In-vivo Dosimetry Stereotactic Radiosurgery (SRS) and Stereotactic Body Radiation Therapy (SBRT) QA Safety and Guideline-driven Tool Selection Emerging Technologies, including Theranostics, AI and Automation Reinforcing its role as a launch point for clinically grounded innovation, QADS 2026 will serve a
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom