FEDSAT is a Low Earth Orbit (LEO) micro-satellite built by the Australian Cooperative Research Centre for Satellite Systems (CRCSS). The satellite was launched from Tanegashima Space Centre on 14 December 2002 into a 10:30 Local Time sun-synchronous polar orbit at just over 800 km altitude. Onboard the satellite carries a range of scientific and engineering payloads, one of which is the NewMag triaxial (vector) magnetometer.

The CRCSS was a joint venture of four Australian companies, six Universities and two government agencies. It was established 1 January 1998 under the Commonwealth's Cooperative Research Centres Program. The Centre carried out research and development, education, training, operations and commercial activities relating to space technologies, particularly in the field of low-cost satellite missions. FEDSAT was the CRC's first major project and was the first satellite built in Australia in over thirty years.