Now it has its billionaire: Telesat LEO project gets conditional $1-billion commitment from Canadian government

by Peter B. de Selding

PARIS — The Canada government firmly put its thumb on the LEO-broadband scales on July 23 with a conditional commitment to invest up to 1.2 billion Canadian dollars ($919 million) in Telesat Canada’s LEO system over 10 years pending the system’s demonstration of expected capacity and performance.

Without a billionaire of its own backing its Telesat LEO project, and with even Telesat’s two shareholders not yet involved in the financing, the Canadian government decision gives Telesat LEO a huge dose of credibility with prospective partners and investors . . .

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