From: exactEarth Ltd
Posted: Monday, January 13, 2020
exactEarth Ltd. ("exactEarth" or the "Company") (XCT: TSX) and Hisdesat announce that in partnership they have been selected by the European Maritime Safety Agency ("EMSA") to provide satellite-AIS data services for a four-year period. All financial terms are in Canadian dollars unless otherwise stated.
Hisdesat, as prime contractor, will provide EMSA with exactView RT, exactEarth's second-generation real-time satellite-AIS data service. Actual revenues under this framework contract will be determined by the task orders placed by EMSA, which is at their sole discretion, but based on their prior service expenditure history, exactEarth estimates that it could generate revenues of between $5.0-$7.0 million for the Company over the life of the contract.
"This contract was the result of a competitive tender process, which included both a full technical and commercial evaluation and was open to service providers in the market," said Peter Mabson, President and CEO of exactEarth. "Along with our partner Hisdesat, we are pleased to have been selected by EMSA for this mandate and to be providing satellite-AIS services to this vital maritime organization. We believe that exactView RT's unique real-time service capabilities - and the high reliability and quality of its data – differentiates us in the industry and will help support EMSA's vision and maritime strategy within the EU."
"Hisdesat has been providing high performance satellite AIS services from exactEarth to many European agencies over the past 7 years and we are very pleased to have been selected by EMSA for this important contract," said Miguel Angel Garcia Primo, CEO of Hisdesat. "exactEarth's industry leading real-time satellite-AIS service is a natural complement to Hisdesat's advanced maritime domain awareness capabilities utilising our Paz radar satellite and we look forward to continuing to provide leading satellite maritime services to EMSA and other global customers."
Satellite-AIS is a navigational safety system by which ships relay information regarding their identity, position, speed and heading that is then captured by a satellite constellation, such as exactView RT. exactView RT consists of 58 operational satellite payloads and seven orbital spares that annually track a population of more than 600,000 unique vessels worldwide and generate real-time Average Global Revisit rates. In addition, a unique inter-satellite relay link guarantees download and delivery to EMSA of the AIS positions with an Average Latency of less than one minute after the message has been sent by the vessel.
Hisdesat was formed in 2001 as a government satellite services operator to act primarily in the areas of defense, security, intelligence and external services. The company provides secure satellite communications services to government agencies worldwide and Earth observation services with radar technology through the PAZ satellite, which was successfully launched in February 2018. Hisdesat is currently developing new opportunities in the area of satellite-AIS technology for enhancing vessel tracking and maritime domain awareness. For m ore information: www.hisdesat.es
About exactEarth Ltd.
exactEarth is a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions. Since its formation in 2009, exactEarth has pioneered a powerful new method of maritime surveillance called satellite-AIS and has delivered to its clients a view of maritime behaviours across all regions of the world's oceans unrestricted by terrestrial limitations. exactEarth's second-generation constellation, exactView RT, securely relays satellite-detected AIS vessel signals from any location on the earth's surface to the ground in seconds – thus enabling global real-time vessel tracking. This unique capability consists of 58 advanced satellite payloads designed and built by Harris Corporation under agreement with exactEarth and that are hosted onboard the Iridium NEXT constellation of satellites. www.exactearth.com
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