CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing combined with commercial satellite design, manufacture, launch, and data collection, recently signed a memorandum of understanding with Mission Space for a partnership for space weather intelligence data collection.
With this partnership, Sidus Space will integrate sets of Mission Space’s Space Weather detectors into its hybrid 3D printed satellite, LizzieSat™. As Sidus Space looks ahead at value-creation opportunities, the sale of data gathered through its satellites is a key piece of the strategic growth plan. We believe this partnership will allow Sidus to create an incremental revenue stream through the sale of this data in addition to its own internal purposes.
Space weather ranks among the highest priority natural hazards as it refers to changes in conditions on the Sun, in the solar wind, magnetosphere and ionosphere, which can affect operations and reliability of space and ground-based technological systems and threaten the health and life of humans.
Space weather can impact everyday needs including GPS systems, power grids and satellites. According to NOAA, as dependence on technology increases, so does the dependence on space weather monitoring and forecasting.
“We are excited to partner with Mission Space to provide the capability of monitoring and analyzing space weather data,” said Carol Craig, Sidus Space Founder and CEO. “Weather intelligence data creates a potential revenue stream while supporting our mission of ‘Bringing Space Down to Earth’ by making useful data and analytics available to a variety of customers.”
“We look forward to integrating our technology into Sidus Space’s LizzieSat™, so that we can utilize our LEO-based space weather data collecting infrastructure to analyze, quantify and help mitigate the effects of solar storms,” said Ksenia Moskalenko, CEO and Co-founder of Mission Space.
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.
About Mission Space
Mission Space, located in Luxembourg, leverages AI, and owns LEO instruments to measure space weather conditions. Mission Space, a female-led venture, was founded in Latvia and expanded to Luxembourg to develop an advanced forecast and monitoring system for one of the highest priority natural hazards in the world - space weather radiation, focusing mainly on space observation from LEO and beyond. Mission Space has developed a satellite-based real-time nowcast system for space weather detection and monitoring. With sensors launched in LEO, Mission Space delivers a user-oriented decision support tool with forecasts and radiation alerts, solving the problem of data deficit and lack of warning tools to mitigate the effects of the sun’s activity.
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.