Texas-based AST SpaceMobile wants to become the world’s ‘tower in space’ for its partner telcos. IT has the first five satellites in orbit, and a report from investment firm Hennessey Focus Fund says that steady cash-raising exercises during the past year has created a war chest of some $519 million (€494.9m) to spend on the build and launch of its next 20 satellites.

Moreover, these next 20 are larger and more sophisticated than the first five now in orbit.

Hennessey says that once these next 20 are launched it “will likely get AST to operating cashflow breakeven”.

The existing five craft will provide coverage to the Earth below for less than one hour per day. Hennessey says: “This is sufficient for some revenue generating government and commercial services.”

AST will need 45-60 satellites to provide continuous coverage of the continental US. AST is targeting 2026 for a more comprehensive offering and is aiming to launch an additional 40 to 55 satellites over the next 24 months.

Hennessy suggests that AST will see its satellite production, from its two manufacturing plants, increase to six per month by the end of 2026.

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Tags: AST SpaceMobile, hennessy, satellite