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The SKY and Space Global Ltd share price has now gained over 200% this year

The SKY and Space Global Ltd (ASX: SAS) share price is up almost 4% to 27 cents today after the global communications infrastructure company updated the market on its nano-satellite launch.

Today’s gain means Sky and Space Global’s shares have climbed over 200% since the turn of the year.

According to today’s release the launch of its 3 Diamonds nano-satellites will occur on Friday June 23 at 2pm Eastern Australian Standard Time.

The launch is the first step in the company’s plan to deliver affordable mobile coverage to an estimated four billion people that are currently without it using a constellation of its nano-satellites.

Management has previously estimated that a full Equatorial constellation of 200 of its nano-satellites has the potential to generate between US$600 million and US$1 billion in annual revenues.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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