{"success":true,"data":{"pressRelease":{"id":"112532","rtpr_id":"nBw2XBbnla","ticker":"SESFG","exchange":"","all_tickers":["SESFG"],"title":"SES Advances Next-generation MEO Strategy Following Successful Completion of IRIS² Rendez-vous 1","author":"Business Wire","published_at":"2026-08-07T08:52:00.076Z","article_body":"SES Advances Next-generation MEO Strategy Following Successful Completion of\nIRIS² Rendez-vous 1\n\nIRIS² expands SES's differentiated MEO architecture while supporting Europe's\nsecure, sovereign multi-orbit connectivity ambitions\n\nSES today announced the successful completion of Rendez-vous 1\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fec.europa.eu%2Fcommission%2Fpresscorner%2Fdetail%2Fen%2Fip_26_1726&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=successful+completion+of+Rendez-vous+1&index=1&md5=d0be79319d65813fc07a119672055cf4)\n(RDV1) under the Infrastructure for Resilience, Interconnectivity and Security\nby Satellite (IRIS²) programme, marking a key milestone in the programme's\nimplementation phase and reinforcing Europe's path towards sovereign,\nresilient and secure satellite connectivity.\n\nThe successful completion of RDV1 confirms the programme's readiness to move\nforward with implementation and provides greater visibility on the long-term\nscope, performance and economics of the MEO segment. SES's expected capital\ncommitment for the MEO segment is up to €1.35 billion, reflecting current\nprogramme scope, while maintaining the deployment of 18 MEO satellites and the\ntargeted service entry in 2030. SES’s share of the investment in the IRIS²\nprogramme for 2026 is included in SES’s FY26 Capex outlook as previously\ncommunicated. No future exceptional cash proceeds will be used to fund the\nproject.\n\nSince the signing of the IRIS² Concession Contract in December 2024, the\nEuropean Commission, the SES-led SpaceRISE consortium and the European Space\nAgency have worked together to validate programme costs, technical\nrequirements, delivery timelines and industrial arrangements. RDV1 establishes\na validated baseline for implementation, providing greater certainty on\nprogramme scope and execution while strengthening the long-term value of\nIRIS² for customers and SES through lower capital requirements, enhanced\nsatellite capabilities and an expanded role in programme delivery.\n\nSES’s participation in IRIS² is consistent with our disciplined financial\npolicy, benefiting from significant public funding, and built-in protection\nmechanisms. The Internal Rate Return (IRR) of the contract is expected to meet\nSES’s minimum 10% hurdle rate, underpinned by a compelling commercial value\nproposition.\n\nApproximately 90% of MEO capacity is expected to remain commercially\nexploitable by SES, generating significant long-term revenue opportunities\nacross government, mobility, enterprise and cloud connectivity markets over\nthe lifetime of these satellites.\n\nIRIS² is a cornerstone of SES's next-generation Medium Earth Orbit (MEO)\nstrategy. Building on the company's proven capabilities, the programme extends\nSES's roadmap into the next decade and positions the company to address\ngrowing demand for secure and resilient connectivity services across\ngovernment and commercial markets.\n\nSES will design and build the payloads for the MEO satellites and perform\nsatellite assembly, integration and test from its facilities in Luxembourg.\nThe upgraded payload architecture will support a wider range of secure\nconnectivity services while further advancing SES's expertise in\nhigh-performance satellite communications.\n\nIn addition to leading the MEO satellites segment, SES will lead user terminal\ndevelopment, operations and the provisioning of LEO/MEO services through\nIRIS² control centres.\n\n\"The successful completion of RDV1 marks an important step towards delivering\nEurope's next-generation secure, sovereign connectivity infrastructure,\" said\nAdel Al-Saleh, CEO of SES. \"IRIS² builds on SES's proven leadership in MEO\nand reinforces our long-term vision for secure, resilient and high-performance\nconnectivity. Together with our existing O3b fleet and meoSphere roadmap, the\nprogramme positions SES to address evolving government and commercial\nrequirements while supporting Europe's ambitions for secure and sovereign\nmulti-orbit communications.\"\n\nThe programme is on track with operational services expected to begin in 2030.\nFollowing RDV1, SES and its partners will move into implementation activities,\nincluding satellite development, payload integration, network operations and\nuser terminal deployment, while continuing to progress through future review\nand validation milestones.\n\nFollow us on:\n\nLinkedIn\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fses%2F&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=LinkedIn&index=2&md5=b99859b0a97aed0cb65875803afb9c24)\n| Facebook\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FSES.Satellites&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=Facebook&index=3&md5=e6524a698db8893ba6ade49ccdb11b45)\n| YouTube\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.youtube.com%2Fses&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=YouTube&index=4&md5=1a3624f48a244f93352eebbe54862d6f)\n| X\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FSES_Satellites&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=X&index=5&md5=d753016bc6972c0b3152054936e2da38)\n| Instagram\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Fses_satellites%2F&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=Instagram&index=6&md5=fbab11b8af695a60d27c90ac830eb3c0)\n\nRead our Blogs\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ses.com%2Fnews%2Fblogs&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=Read+our+Blogs&index=7&md5=ecf79f13b1c9df37102f71c6338f024d)\n>\n\nVisit the Media Gallery\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ses.com%2Fmedia-gallery&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=Visit+the+Media+Gallery&index=8&md5=61012008b1b3268b3b403d5e54188da0)\n>\n\nAbout SES\n\nAt SES, we believe that space has the power to make a difference. That’s why\nwe design space solutions that help governments protect, businesses grow, and\npeople stay connected—no matter where they are. With integrated multi-orbit\nsatellites and our global terrestrial network, we deliver resilient, seamless\nconnectivity and the highest quality video content to those shaping what’s\nnext. Following our Intelsat acquisition, we now offer more than 100 years of\ncombined global industry leadership—backed by a track record of bringing\ninnovation “firsts” to market. As a trusted partner to customers and the\nglobal space ecosystem, SES is driving impact that goes far beyond coverage.\nThe company is headquartered in Luxembourg and listed on Paris and Luxembourg\nstock exchanges (Ticker: SESG). Further information is available at:\nwww.ses.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ses.com&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=www.ses.com&index=9&md5=d79c9d11dfd0bd3f87e38f0edcfc79d8)\n\nForward-looking Statements\n\nThis press release contains certain “forward-looking statements” within\nthe meaning of the safe harbor provisions of the U.S. Private Securities\nLitigation Reform Act of 1995. Forward-looking statements can be identified by\nwords such as “expected,” “targeted,” “extends,” and “will.”\n\nForward-looking statements are not assurances of future performance and are\nsubject to inherent uncertainties and risks that are difficult to predict.\nFactors that might cause such a difference include those discussed in our\nfilings with the US Securities and Exchange Commission, including our Form\n20-F, such as risks relating to the development, deployment, manufacturing,\nand operation of satellites; risks relating to complex consortium\narrangements, long development timelines, evolving regulatory and\ninstitutional requirements, and material funding and delivery obligations\narising from IRIS², costs or implementation requirements may differ from\ncurrent expectations and delays or execution challenges could increase\ninvestment needs, reduce expected returns, and may not yield the expected\nbenefits; risks relating to governmental customers and programs, and changes\nin procurement, priorities, budgets or contract awards and governmental\nfunding decisions and policy changes; and risks that anticipated commercial\ndemand, market opportunities, or commercial benefits may not meet\nexpectations. The forward-looking statements included in this press release\nare made only as of the date hereof and we undertake no obligation to publicly\nupdate or revise any forward-looking statements, whether as a result of new\ninformation, future events or otherwise.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260807188135/en/\n(https://www.businesswire.com/news/home/20260807188135/en/)\n\nFor further information please contact: \n\nSES Communications\n\nTel : +352 691 419 118\n\nSES.Press@ses.com (mailto:SES.Press@ses.com)\n\nChristian Kern\n\nInvestor Relations\n\nTel: +352 710 725 7787\n\nir@ses.com (mailto:ir@ses.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw2XBbnla","title":"SES Advances Next-generation MEO Strategy Following Successful Completion of IRIS² Rendez-vous 1","author":"Business Wire","ticker":"SESFG","created":"2026-08-07T08:52:00.076Z","tickers":["SESFG"],"exchange":"","article_body":"SES Advances Next-generation MEO Strategy Following Successful Completion of\nIRIS² Rendez-vous 1\n\nIRIS² expands SES's differentiated MEO architecture while supporting Europe's\nsecure, sovereign multi-orbit connectivity ambitions\n\nSES today announced the successful completion of Rendez-vous 1\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fec.europa.eu%2Fcommission%2Fpresscorner%2Fdetail%2Fen%2Fip_26_1726&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=successful+completion+of+Rendez-vous+1&index=1&md5=d0be79319d65813fc07a119672055cf4)\n(RDV1) under the Infrastructure for Resilience, Interconnectivity and Security\nby Satellite (IRIS²) programme, marking a key milestone in the programme's\nimplementation phase and reinforcing Europe's path towards sovereign,\nresilient and secure satellite connectivity.\n\nThe successful completion of RDV1 confirms the programme's readiness to move\nforward with implementation and provides greater visibility on the long-term\nscope, performance and economics of the MEO segment. SES's expected capital\ncommitment for the MEO segment is up to €1.35 billion, reflecting current\nprogramme scope, while maintaining the deployment of 18 MEO satellites and the\ntargeted service entry in 2030. SES’s share of the investment in the IRIS²\nprogramme for 2026 is included in SES’s FY26 Capex outlook as previously\ncommunicated. No future exceptional cash proceeds will be used to fund the\nproject.\n\nSince the signing of the IRIS² Concession Contract in December 2024, the\nEuropean Commission, the SES-led SpaceRISE consortium and the European Space\nAgency have worked together to validate programme costs, technical\nrequirements, delivery timelines and industrial arrangements. RDV1 establishes\na validated baseline for implementation, providing greater certainty on\nprogramme scope and execution while strengthening the long-term value of\nIRIS² for customers and SES through lower capital requirements, enhanced\nsatellite capabilities and an expanded role in programme delivery.\n\nSES’s participation in IRIS² is consistent with our disciplined financial\npolicy, benefiting from significant public funding, and built-in protection\nmechanisms. The Internal Rate Return (IRR) of the contract is expected to meet\nSES’s minimum 10% hurdle rate, underpinned by a compelling commercial value\nproposition.\n\nApproximately 90% of MEO capacity is expected to remain commercially\nexploitable by SES, generating significant long-term revenue opportunities\nacross government, mobility, enterprise and cloud connectivity markets over\nthe lifetime of these satellites.\n\nIRIS² is a cornerstone of SES's next-generation Medium Earth Orbit (MEO)\nstrategy. Building on the company's proven capabilities, the programme extends\nSES's roadmap into the next decade and positions the company to address\ngrowing demand for secure and resilient connectivity services across\ngovernment and commercial markets.\n\nSES will design and build the payloads for the MEO satellites and perform\nsatellite assembly, integration and test from its facilities in Luxembourg.\nThe upgraded payload architecture will support a wider range of secure\nconnectivity services while further advancing SES's expertise in\nhigh-performance satellite communications.\n\nIn addition to leading the MEO satellites segment, SES will lead user terminal\ndevelopment, operations and the provisioning of LEO/MEO services through\nIRIS² control centres.\n\n\"The successful completion of RDV1 marks an important step towards delivering\nEurope's next-generation secure, sovereign connectivity infrastructure,\" said\nAdel Al-Saleh, CEO of SES. \"IRIS² builds on SES's proven leadership in MEO\nand reinforces our long-term vision for secure, resilient and high-performance\nconnectivity. Together with our existing O3b fleet and meoSphere roadmap, the\nprogramme positions SES to address evolving government and commercial\nrequirements while supporting Europe's ambitions for secure and sovereign\nmulti-orbit communications.\"\n\nThe programme is on track with operational services expected to begin in 2030.\nFollowing RDV1, SES and its partners will move into implementation activities,\nincluding satellite development, payload integration, network operations and\nuser terminal deployment, while continuing to progress through future review\nand validation milestones.\n\nFollow us on:\n\nLinkedIn\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fses%2F&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=LinkedIn&index=2&md5=b99859b0a97aed0cb65875803afb9c24)\n| Facebook\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FSES.Satellites&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=Facebook&index=3&md5=e6524a698db8893ba6ade49ccdb11b45)\n| YouTube\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.youtube.com%2Fses&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=YouTube&index=4&md5=1a3624f48a244f93352eebbe54862d6f)\n| X\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FSES_Satellites&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=X&index=5&md5=d753016bc6972c0b3152054936e2da38)\n| Instagram\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Fses_satellites%2F&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=Instagram&index=6&md5=fbab11b8af695a60d27c90ac830eb3c0)\n\nRead our Blogs\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ses.com%2Fnews%2Fblogs&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=Read+our+Blogs&index=7&md5=ecf79f13b1c9df37102f71c6338f024d)\n>\n\nVisit the Media Gallery\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.ses.com%2Fmedia-gallery&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=Visit+the+Media+Gallery&index=8&md5=61012008b1b3268b3b403d5e54188da0)\n>\n\nAbout SES\n\nAt SES, we believe that space has the power to make a difference. That’s why\nwe design space solutions that help governments protect, businesses grow, and\npeople stay connected—no matter where they are. With integrated multi-orbit\nsatellites and our global terrestrial network, we deliver resilient, seamless\nconnectivity and the highest quality video content to those shaping what’s\nnext. Following our Intelsat acquisition, we now offer more than 100 years of\ncombined global industry leadership—backed by a track record of bringing\ninnovation “firsts” to market. As a trusted partner to customers and the\nglobal space ecosystem, SES is driving impact that goes far beyond coverage.\nThe company is headquartered in Luxembourg and listed on Paris and Luxembourg\nstock exchanges (Ticker: SESG). Further information is available at:\nwww.ses.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ses.com&esheet=54585628&newsitemid=20260807188135&lan=en-US&anchor=www.ses.com&index=9&md5=d79c9d11dfd0bd3f87e38f0edcfc79d8)\n\nForward-looking Statements\n\nThis press release contains certain “forward-looking statements” within\nthe meaning of the safe harbor provisions of the U.S. Private Securities\nLitigation Reform Act of 1995. Forward-looking statements can be identified by\nwords such as “expected,” “targeted,” “extends,” and “will.”\n\nForward-looking statements are not assurances of future performance and are\nsubject to inherent uncertainties and risks that are difficult to predict.\nFactors that might cause such a difference include those discussed in our\nfilings with the US Securities and Exchange Commission, including our Form\n20-F, such as risks relating to the development, deployment, manufacturing,\nand operation of satellites; risks relating to complex consortium\narrangements, long development timelines, evolving regulatory and\ninstitutional requirements, and material funding and delivery obligations\narising from IRIS², costs or implementation requirements may differ from\ncurrent expectations and delays or execution challenges could increase\ninvestment needs, reduce expected returns, and may not yield the expected\nbenefits; risks relating to governmental customers and programs, and changes\nin procurement, priorities, budgets or contract awards and governmental\nfunding decisions and policy changes; and risks that anticipated commercial\ndemand, market opportunities, or commercial benefits may not meet\nexpectations. The forward-looking statements included in this press release\nare made only as of the date hereof and we undertake no obligation to publicly\nupdate or revise any forward-looking statements, whether as a result of new\ninformation, future events or otherwise.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260807188135/en/\n(https://www.businesswire.com/news/home/20260807188135/en/)\n\nFor further information please contact: \n\nSES Communications\n\nTel : +352 691 419 118\n\nSES.Press@ses.com (mailto:SES.Press@ses.com)\n\nChristian Kern\n\nInvestor Relations\n\nTel: +352 710 725 7787\n\nir@ses.com (mailto:ir@ses.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-08-07T08:52:00.135410086Z","server_sent_at_ms":1786092720135},"received_at":"2026-08-07T08:52:00.187Z","source_url":"https://www.businesswire.com/news/home/20260807188135/en/"},"analysis":{"id":"101532","press_release_id":"112532","analysis_json":{"industry":{"label":"Space Infrastructure & Services","sector":"Information Technology"},"redFlags":["Service entry not expected until 2030, delaying revenue realization","Large capital commitment dependent on complex consortium arrangements and public funding"],"eventType":"operations_update","narrative":"SES announced the successful completion of Rendez-vous 1 (RDV1) for the IRIS² program, validating the project scope and establishing a baseline for implementation of its next-generation MEO architecture.\n\nThe company confirmed an expected capital commitment of up to €1.35 billion for the MEO segment, involving 18 satellites with targeted service entry in 2030, while noting the contract IRR is expected to meet its 10% hurdle rate.\n\nApproximately 90% of the MEO capacity will remain commercially exploitable by SES, positioning the company to address growing demand in government, mobility, and cloud connectivity markets.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"IRIS² milestone clears path for 2030 launch; €1.35B commitment validated by strong IRR expectations."},"keyFigures":{"customDimensions":{"irr_hurdle_rate":"10%","service_entry_year":2030,"meo_satellites_count":18,"capital_commitment_meo":"€1.35 billion","commercial_capacity_percentage":"90%"}},"quotedText":"The successful completion of RDV1 marks an important step towards delivering Europe's next-generation secure, sovereign connectivity infrastructure","namedEntities":{"people":[{"name":"Adel Al-Saleh","role":"CEO"},{"name":"Christian Kern","role":"Investor Relations"}],"products":["O3b fleet","meoSphere roadmap","IRIS²"],"companies":[{"name":"SES","ticker":"SESFG"},{"name":"European Commission","relationship":"partner / consortium member"},{"name":"SpaceRISE consortium","relationship":"SES-led consortium"},{"name":"European Space Agency","relationship":"partner"},{"name":"Intelsat","relationship":"acquired"}],"dollarAmounts":[{"amount":"€1.35 billion","context":"expected capital commitment for the MEO segment"}]},"materialImpact":{"score":3,"reasoning":"Successful completion of a major milestone (RDV1) in the IRIS² program validates the project scope and reduces execution risk. Capital commitment of €1.35B is significant but largely public-funded, with IRR meeting the 10% hurdle. 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