- Press Release
- Oct 31, 2023
EarthDaily Analytics Provides Strategic Update and Announces Initiation of EarthDaily Constellation Construction
EarthDaily Analytics Corp. (“EDA” or the “Company”), a vertically-integrated data processing and analytics company pairing cutting-edge Big Data tools with proven Space technologies, today provided a strategic update on its progress, including the initiation of construction on its EarthDaily Constellation of super-spectral satellites.
Subsequent to EDA’s formation in February 2021, the Company has undertaken a series of steps to ensure its long-term success, including but not limited to the following:
– Completed detailed plan for development of the Company’s integrated EarthDaily service offering, including the launch of the EarthDaily Constellation satellites throughout 2023
– Completed acquisition of Geosys agricultural geoanalytics business
– Incorporated Short Wave Infrared (“SWIR”) and Thermal cameras into the EarthDaily Constellation to further enhance service offering and breadth of addressable markets
– Completed extensive industry procurement survey, RFP process, and vendor due diligence
– Received commitment from Antarctica Capital, an international private equity firm with $2 billion of assets under management, to support the construction of the $150 million EarthDaily Constellation
– Initiated construction of the EarthDaily Constellation, which is currently four months into the build process, with payments made for long-lead components ordered from market-leading industrial partners, who will be announced shortly
– Ongoing recruitment of additional software engineering personnel to support the EarthPipeline Software-as-a-Service (“SaaS”) Ground Segment
– Invested in marketing and sales organization to drive both near-term revenues from the existing agricultural geoanalytics offering and long-term commitments for the forthcoming EarthDaily service offering
– Received AWS certification for EarthPipeline SaaS offering
Don Osborne, Chief Executive Officer of EarthDaily Analytics, said, “With Antarctica Capital’s solid backing, we have been able to move expeditiously in progressing the development and commercialization of the fully integrated EarthDaily service offering, while also increasing near-term revenues and diversifying the customer base for our Geosys agricultural geoanalytics business. By pairing the fully automated, endlessly scalable, cloud-native SaaS EarthPipeline data processing system with the ultra-high quality, Analytics-Ready Data and daily global coverage provided by the EarthDaily Constellation, EDA is positioned to provide innovative Big Data solutions to some of the greatest challenges facing our world today.”
Chandra Patel, Managing Director of Antarctica Capital, said, “EarthDaily represents an incredible opportunity to apply the tools of Big Data and Artificial Intelligence to an ever-expanding and extremely rich, super-spectral dataset that captures the Earth’s landmass every single day. As firm believers in the promise of EarthDaily Analytics, our ability to provide the Company with both strategic guidance and substantial growth capital allows EDA to position itself as a well-capitalized and largely de-risked innovator, supported by both growing near-term revenues and material momentum towards unlocking its full potential with the launch of the EarthDaily Constellation. Whether as a means of supporting ESG monitoring and assurance mandates, predicting and tracking wildfires, monitoring containership traffic off the coast of California, measuring water uptake and harvested acres to support crop insurance underwriting in Brazil, or informing trading strategies for carbon and other global commodity markets, we are thrilled to support EDA in providing truly differentiated and value-added solutions to the diverse challenges of today and tomorrow.”
Mr. Osborne concluded, “As a well-capitalized company with proven capabilities in Space technologies and ultra-high volume data analytics, a growing book of both near-term revenues and long-term committed business, and a substantially de-risked path to the launch of the EarthDaily Constellation in 2023, we are very optimistic about the prospects for our business and look forward to providing further updates during this exciting period for EDA.”
About EarthDaily Analytics
EarthDaily Analytics (EDA), a Canadian company with headquarters in Vancouver, British Columbia, provides evidence-based, actionable insights for addressing some of the world’s greatest challenges, from sustainable agriculture and disaster management to climate change monitoring and forestry protection, among many others. Its Geosys division, with operations in Minneapolis, USA, and Toulouse, France, has more than thirty years of AgTech experience analyzing weather and satellite data for agriculture, serving stakeholders across the agricultural value chain with proven solutions for monitoring and benchmarking crops throughout the growing season.
EDA has developed EarthPipeline, the world’s first Ground Segment as a Service, that uses proprietary algorithms combined with the latest advancements in computer vision and machine learning to produce scientific quality Analytics Ready Data in the cloud at massive scale for “big data” infrastructure and geoanalytics. This fully automated processing pipeline is used with data from a number of satellite sensors to power the geoanalytics services by its Geosys division and is now also being offered commercially. EDA is also developing the EarthDaily Satellite Constellation to image the Earth’s landmass and large maritime areas every single day, with the data being processed by the EarthPipeline to produce scientific-quality superspectral imagery that will power groundbreaking innovations in a wide range of AI and machine learning applications. For more information, visit www.earthdaily.com.
About Antarctica Capital
Antarctica Capital is an international private equity firm headquartered in New York with assets under management in excess of $2 billion as of December 31, 2020. Antarctica Capital is a registered investment advisor and is dedicated to investments in private markets and real assets and the establishment of long-term capital vehicles to leverage this investment focus. Antarctica Capital’s investment approach is active ownership with an inherent focus on sustainability and to provide more than capital to develop companies. The firm has an absolute return focus, which leads the firm to rigorously evaluate and build conviction around idiosyncratic investment opportunities and build value through the implementation of its investment strategies, such as SIGA®, SARO® and SEREY™.