- Press Release
- August 9, 2022
Sidus Space Successfully Completes Significant Milestone
Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection is pleased to announce the successful completion of the LizzieSat™ (LS) Preliminary Design Review (PDR).
“Our Sidus Space engineers did an excellent job preparing for and executing the PDR, and we are following up with briefings to our payload partners and strategic teammates”
A PDR ensures the design and basic system architecture are complete and that there is technical confidence the capability need can be satisfied within cost and schedule goals. A successful PDR means that a satellite is on track and development is progressing as planned.
The LS satellites are partially 3D manufactured Low Earth Orbit (LEO) microsatellites focused on rapid, cost-effective development and testing of upcoming innovative spacecraft technologies for multiple customers and space-based data collection. LS is a 100kg (220-pound) satellite with space to rapidly integrate customer sensors and technologies.
“Our Sidus Space engineers did an excellent job preparing for and executing the PDR, and we are following up with briefings to our payload partners and strategic teammates,” said Jamie Adams, Chief Technology Officer for Sidus Space. “With the PDR complete, our engineering team is one step closer to finalizing and readying for the initial launch in a planned fleet of 100 satellites capable of hosting a variety of custom payloads for a variety of customer missions and collecting space-based data for multiple industries.”
About Sidus Space
Sidus Space (NASDAQ: SIDU), located in Cape Canaveral, Florida, operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on commercial satellite design, manufacture, launch, and data collection. The company’s rich heritage includes the design and manufacture of many flight and ground component parts and systems for various space related customers and programs.
Sidus Space has a mission of Bringing Space Down to Earth™ and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry, or vertical can start their journey off-planet with Sidus Space’s rapidly scalable, low-cost satellite services, space-based solutions, and testing alternatives. More than just a “Satellite-as-a-Service” provider, Sidus Space is a trusted Mission Partner–from concept to Low Earth Orbit and beyond. Sidus is ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute ‘forward-looking statements’ within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words ‘anticipate,’ ‘believe,’ ‘continue,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘intend,’ ‘may,’ ‘plan,’ ‘potential,’ ‘predict,’ ‘project,’ ‘should,’ ‘target,’ ‘will,’ ‘would’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors discussed in the ‘Risk Factors’ section of the final prospectus dated December 13, 2021, filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.