SIDU Expanding Operations to the Middle East
CAPE CANAVERAL, FL, June 25, 2024 – Sidus Space, Inc. (NASDAQ: SIDU), a provider of end-to-end precision space infrastructure solutions that include satellite data as a service on its proprietary orbiting platform, announced today the execution of a Memorandum of Understanding (MOU) outlining its collaboration with NamaSys, a multi discipline Technology & Electronic Security Consultancy for the establishment of a joint venture with a mission to build, own and operate a satellite manufacturing, production, assembly and integration facility in the Middle East supporting Gulf Cooperation Council (GCC) countries and beyond.
The MOU outlines that the parties intend to serve and fulfill the needs and requirements of government and private clients across the Middle East and North Africa (MENA) region while sharing a unified mission of fostering science and technology development. With multiple value propositions, the initial scope of this rewarding collaboration will center attention on exploring opportunities for sustained access to space for the GCC countries through the establishment of satellite manufacturing and space-based data collection.
“This important and accretive relationship is the cornerstone for launching our satellite operations and on-orbit services into the GCC region. The immediate benefits of our technology and services to the Gulf states are a game changer for both the Middle East and Sidus Space” said Carol Craig, Founder and CEO of Sidus Space.
“The recent advances in 3D printing, specifically in manufacturing lightweight complex designs for the space industry, will definitely serve as the catalyst in bringing the GCC region closer to par with the leaders in this industry” said Manhal AlQaisi, CEO of NamaSys. “Under the guidance and support of a technical JV partner such as Sidus Space, we are confident that we made the right choice.”
About Sidus Space
Sidus Space (NASDAQ: SIDU) is a multi-faceted Space Infrastructure as a Service satellite company focused on mission-critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support. The Company is in Cape Canaveral, Florida, where it operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on vertically integrated Space-as-a-Service solutions including end-to-end satellite support.
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. More than just a “Satellite-as-a-Service” provider, Sidus Space products and services are offered through its several business units: Space-as-a-Service, Space-Based Data Solutions, AI/ML Products and Services, Mission Planning and Management Operations, 3D Printing and Products and Services, Satellite Manufacturing and Payload Integration. and Space and Defense Hardware Manufacturing. Sidus Space is ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.
About NamaSys
(Nama: Arabic word for Developed, Sys as in Systems) NamaSys is a multi-discipline services company that merges various models of data collection technologies including utilizing aerospace earth observation methods, observe and monitor marine & maritime activity, and lawful track and intercept technologies to offer unique solutions to government and private sector clients.
Forward-Looking Statements
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, 2023, 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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