Abu Dhabi-based Orbitworks, a space technology company, is planning a $1 billion investment to expand its satellite network over the next five years after securing its first deal with a European government, its chief executive told Semafor.

The firm, which is linked to Abu Dhabi national security adviser Sheikh Tahnoon bin Zayed’s International Holding Co. (IHC), will launch its first satellite in October and aims to deploy nine more next year as it builds an artificial intelligence-powered Earth observation constellation. A further 40 satellites are planned within five years, CEO Hamdullah Mohib said in an interview.

Orbitworks recently signed an agreement with France’s space agency to manufacture and launch satellites, a step that supports the UAE’s ambition to become one of the world’s 10 largest space economies.

“When we were starting there were a lot of doubts. People didn’t think of the Middle East as a place for high-tech manufacturing, but now we’re showing we can compete on the international stage,” Mohib said. “We have customers in the UAE already, and this agreement with the French government adds to our credibility.”