Satellite communication infrastructure company Space Network announced on the 29th that it has signed a $50 million pre-purchase agreement for satellite network services with Philippine-based HQ Company International Holdings. This brings the cumulative pre-order volume to $150 million, including a $100 million contract signed with Vietnamese technology company DETI in May. Under this agreement, HQ Company will operate Space Network's Freeport satellite communication network services in the Philippines. Space Network will provide related hardware, software, and technical support, while HQ Company will be responsible for local sales, customer acquisition, and business operations. Space Network currently has four low-earth orbit satellites launched and in operation, and plans to launch approximately 230 additional satellites in the future to commercialize the Freeport satellite network service by 2029.
