- Press Release
- Jan 30, 2023
Sidus Space Expands Commercial Data Distribution Strategy Through Agreement with SkyWatch
Sidus Space, Inc. (NASDAQ:SIDU) (“Sidus” or the “Company”), a Space-as-a-Service company focused on mission critical hardware manufacturing combined with commercial satellite design, manufacture, launch, and data collection, announced today that it signed an agreement with SkyWatch for use of its TerraStream data-management platform.
This agreement is expected to accelerate the expansion of Sidus’ commercial data distribution strategy which includes white labeling data for the Company’s existing customers as well as driving growth of new data customers. Serving as a key contributor to the Space data marketplace, the agreement is expected to generate additional revenue for the Company and engage customers that otherwise may not have connected with Sidus.
The TerraStream platform provides end-to-end data management and distribution capabilities to satellite operators, and provides an accelerated path to grow revenue and new markets through EarthCache, SkyWatch’s remote sensing platform. Utilizing TerraStream eliminates the need for costly IT infrastructure, enabling Sidus to provide cost-effective access to Space-based data and deliver on its mission of “Bringing Space Down To Earth™”. As Sidus looks ahead, it expects that its revenue mix will include a variety of users and industries . More specifically, an increase in remote sensing data customers and analytics subscriptions.
“A key part of our business plan has always included monetizing high-impact data for insights on virtually every commercial sector, and, as we prepare to launch LizzieSat™ this year, this agreement represents an important milestone on that journey,” said Carol Craig, Sidus Space Founder and CEO. “As new customers and industries begin to understand how Space-based data can impact business strategy, we believe that Sidus is well-positioned to capitalize on the increasing demand.”
LizzieSat-1, the maiden flight of Sidus’ multi-mission satellite constellation, is expected to launch in 2023 into a mid-inclination Low Earth Orbit from Cape Canaveral, Florida. LizzieSat-1 will supply mission-based data to clients and consumers focused on climate change, maritime shipping industry activities, and other commercially relevant interests.
“We’re thrilled to partner with Sidus Space on their mission to ‘Bring Space Down to Earth’,” said Joel Cumming, Chief Technology Officer at SkyWatch. “We share a mission to make Earth observation and remote sensing data more accessible to solve critical issues, and we look forward to working with the team at Sidus as they continue this important work.”
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 broad range of Space-As-a-Service offerings including space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management.
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.
SkyWatch is on a mission to make Earth Observation and remote sensing data accessible to the world. Hundreds of trillions of pixels of our planet are captured from space every day. Drawing on the team’s past experience in space data aggregation software, we are building the infrastructure to connect satellite data operators and application developers. The company raised a $17.2 million USD Series B in 2021 and is expected to double in size in the next 18 months. Learn more at http://skywatch.com.
TerraStream is SkyWatch’s automated data distribution platform for Earth observation data providers that is more functional, capital-efficient, and fast to deploy than a custom build. A cost-effective way to monetize data and expand market reach, the TerraStream platform includes custom processing, image normalization, data hosting, tasking management, opportunity analytics, and a robust API suite.
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 described more fully in the section entitled ‘Risk Factors’ in Sidus Space’s Annual Report on Form 10-K for the year ended December 31, 2021, and other periodic reports 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.
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