Neo Space Group, abbreviated NSG, is a wholly owned company of the sovereign Public Investment Fund of Saudi Arabia, established and announced on May 27, 2024 under the Vision 2030 initiative to serve as a national champion in the satellite and space sector. The company operates through four business segments covering satellite communications, Earth observation and remote sensing, satellite navigation and the Internet of Things, and a satellite and space focused venture capital fund, and its creation marked the first investment by the Public Investment Fund focused specifically on the space industry.
Facts
Agency TypePublic Investment Fund-backed commercial space services provider 1 Founded Year HeadHaithem Mohammed Mojil Alfaraj 1 Sources
1. SatellitePro ME: Neo Space Group appoints Haithem Alfaraj as CEO
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Launched by Public Investment Fund in May 2024
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Haithem Mohammed Mojil Alfaraj
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a Public Investment Fund-backed company and a commercial space services provider in Saudi Arabia
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