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Matt Desch: Iridium Seeks Insurance on NEXT Satellites

Matt Desch: Iridium Seeks Insurance on NEXT Satellites - top government contractors - best government contracting event
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Matt Desch
Matt Desch

Matt Desch, CEO of Iridium Communications, told investors Wednesday the company wants to insure its upcoming constellation of NEXT satellites against potential operational risks, Space News reported Thursday.

“We have to place insurance before launch and we’re in that process right now,” he was quoted as saying.

Desch, an inductee into Executive Mosaic’s Wash100 for 2015, said he expects the first two NEXT satellites to launch aboard a Dnepr rocket from a Russian launch site in October or shortly thereafter, according to Space News.

Iridium has also selected SpaceX to help facilitate up to seven launches with the Falcon 9 rocket technology.

Desch noted SpaceX agreed to provide a free satellite relaunch in the event of a launch failure, the report said.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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