Neo Space Group (NSG), a wholly owned by Saudi Arabia's sovereign wealth fund, has appointed Martijn Blanken as its new group CEO.

Blanken has over 25 years of experience in the global telecommunications and technology industry.

NSG, wholly owned by Public Investment Fund (PIF), intends to focus on pursuing strategic and commercially feasible space sector opportunities. It will also invest in the most promising new space technology start-ups and entrepreneurs both in Saudi Arabia and globally to nurture a thriving space industry.

Blanken said: “The space industry is rapidly transforming and is wide open for disruption, so the launch of NSG is very well-timed. We believe that by putting the customer’s need at the center of everything we do, leveraging existing assets in the industry in combination with investments in new capabilities, we will be able to become an effective disrupter and challenger brand in the global space economy and a national champion for Saudi´s space ambitions."

Blanken joins NSG from EXA Infrastructure, the dedicated digital infrastructure platform connecting Europe and North America, where he was their CEO. Before joining EXA, he served as a senior advisor to Squared Capital, a global infrastructure investment firm.  

(Reporting by Brinda Darasha; editing by Seban Scaria)