Lynette Tan, Chief Executive of the Space Faculty in Singapore, Robyn Clay, Head of Operations at Fleet Space Technologies, Sri Amirthalingam, Commercial Engineering Executive Director, Networks and IT at Telstra and Dr Tom James, Fintech entrepreneur and TradeFlow Capital co-founder, shared their expert views with King & Wood Mallesons Partners Annabel Griffin, Kate Creighton-Selvay and Paul Schroder at the KWM Digital Future Summit.
You can watch the full session on-demand here. Conversation starters from the rest of the summit – including the government’s approach to digital changes, keeping the AI evolution ethical, digital payments driving financial system shifts, and how regulators are approaching cyber-risks - are here.
- How satellite technology is reducing the digital divide by providing:
- connectivity to people in regional and remote Australia and
- support during natural disasters.
- How innovation in space technology is supporting the enormous global task of transitioning to renewable energies.
- The ‘democratisation of space’ as the sector has shifted from government to non-government spending. In 2022, the global space sector was valued at US$546 billion with the vast majority – approximately 80% - coming from commercial activities.
- In Australia, Adelaide - the home of Fleet Space Technologies – is a growing space hub.
- Globally, Singapore’s finance hub status makes it a natural place for space industry investments.
Space exploration has a long history of driving technological advancements with real-world applications. Innovative and cutting-edge companies and organisations are creating value through helping to solve Earth’s problems – here’s a snapshot from global experts.
Innovative ‘breakthrough’ low-orbit satellites are reducing the digital divide, helping in disasters and boosting productivity
The GEO satellites have served us well. But the LEO satellite is a breakthrough for Australia."
- Telstra, Sri Amirthanlingam
Australia has an enormous land mass with 72% of the population concentrated in major cities. Of its more than 7.5million km2 of land, about 5million km2 - home to fewer than 1% of people - currently doesn’t have the full mobile and broadband coverage that the metropolitan parts of Australia enjoy. As Telstra’s Sri Amirthalingam explains, recent advances in low Earth orbit satellites (called ‘LEO sats’ in the industry) have the potential to close this digital divide by providing to the more remote parts of the country:
- fixed broadband coverage – this is available now, and
- satellite direct-to-mobile-handset coverage - this is available with limited functionality now, with expected advances in the next year or two.
Satellite-enabled communications have a long history – geostationary orbit satellites are positioned about 35,000km from Earth (known as ‘GEO satellites’ in the industry). Only three are needed to cover the whole of Earth’s surface.
By contrast, LEO sats are generally about 400-500km from Earth. Sri Amirthalingam notes:
- Their relative proximity enables them to communicate with minimal delay – their latency (time lag) is much lower than GEO sats.
- They enable more expansive use of IOT sensors in agriculture and mining, and more efficient practices in these industries.
- LEO sat-enabled direct-to-mobile-handset and fixed broadband services can also support improved disaster management by enhancing connectedness. This can act as a ‘safety blanket’ for natural disasters like floods and fires.
Those affected by the 2018-9 summer bushfires or any natural disaster know the value of being able to connect to emergency services and loved ones during disasters.
Improving resource exploration to accelerate the net zero transition
One of the biggest problems that we have been working on is combining satellite connectivity and the latest advances in geophysics to help accelerate the world’s transition to renewable energies."
- Fleet Space Technologies, Robyn Clay
It’s widely acknowledged that we’ll need vast amounts of critical and rare Earth minerals to meet the global transition to renewable energies, including to make solar panels and batteries to store green power. Dr Tom James explains that space exploration and technologies are assisting in two key ways: reducing drilling and disruption by using satellites to more accurately locate resources, and by turning the technology towards use on other planets.
Australian company Fleet Space is playing an important role as part of this solution. Fleet Space’s work includes developing and deploying space technologies that deliver high-fidelity 3D mapping of underground critical mineral deposits, such as copper, lithium. As Robyn Clay explains, Fleet Space does this ‘quickly, affordably and with minimal environmental impact’.
As our planet's finite resources continue to dwindle, space missions are exploring the availability of vital resources on other celestial bodies, such as the Moon and Mars. Asteroid mining holds promise for extracting minerals that can help solve resource shortages on Earth and supporting the transition to renewable energy.
Australia’s existing mining industry is also playing a role in this venture. Australian mining companies help with testing the autonomous artificial intelligence driven robots in the real life setting of a mine. These technologies will be needed to conduct mining activities in space (with potential tweaks to make the payload lighter for the launch vehicles).
Enormous investment growth and potential from the democratisation of space
The knowledge from mining firms of already-harsh environments here on this planet – particularly deep gold mines where some robots are being tested already - this is all a good practice ground for learning. [For example] how to create autonomous semi-autonomous AI driven robots to safely explore and potentially mine rare minerals on other planets."
- TradeFlow Capital, Dr Tom James
Dr Tom James attributes the US 2015 Commercial Space Launch Competitiveness Act with setting a path for commercial exploration of space and prompting investment momentum. It gives some protection, at least under US law and for US citizens, to commercial exploration of space. In essence, it enables commercial participants to retain the minerals they find in space in accordance with applicable law (including the US’ international obligations).
There’s no equivalent in the Australian Space (Launches and Returns) Act 2018, and there is some debate as to the interplay between the Outer Space Treaty and the US Act. The Treaty contemplates that space shall be free for exploration and use by all Sates, and also that space is not able to be appropriated by claim of sovereignty by means of use, occupation or any other means.
Space investments as diversification – and a natural financial ‘home’ in Singapore
How I advise investors in some of the programs we've done is to look at it as an anti-cyclical investment - it brings diversification to your portfolio. The space industry grew very steadily at 8 to 9% before COVID, during COVID and after COVID. It's a resilient sector."
- Space Faculty, Lynette Tan
Despite the degree of ‘newness’ in the space industry – across innovation, ideas, proofs of concept – Lynette Tan explains that it is steady and resilient even during difficult times.
Based in Singapore - and described as the ‘face of Singapore’s space industry’ - Lynette Tan details how the state’s role as a prominent business and finance hub in Asia makes it an ideal place to support the commercialisation of space technologies, well-connected to other sectors and markets.
