CAPE CANAVERAL, Fla., June 7, 2023 – Sidus Space (NASDAQ: SIDU) (the “Company” or “Sidus”), a multi-faceted Space and Defense-as-a-Service satellite company, announced today that it will launch industry leading hyperspectral and multispectral imaging and Edge Artificial Intelligence (AI) in its LizzieSatTM satellite on SpaceX Transporter missions beginning in 2024.
LizzieSat’s hyperspectral and multispectral imaging capability will be provided by the Owl 1280 and Hawk 1920 HD cameras made by Raptor Photonics. Sidus is building its space-based infrastructure of multi-mission satellites with hyperspectral, multispectral and other sensors to provide monitoring services and solutions to multiple sectors and industries.
Sidus’ sub-5m ground sampling distance (GSD) multispectral SWIR, coupled with sub-10m hyperspectral imagery capabilities provides the Company with a competitive advantage in serving the $55.6 billion SmallSat market. Additionally, the Company’s robust ground coverage and Edge AI accelerates the receipt of actionable data sent to the ground by parsing key identifying information before transmission. Sidus’ satellites are expected to circle the earth every 95 minutes with communication gaps less than 10 minutes on each orbit. This gap can be closed completely as additional ground stations are secured. This provides customers with satellite access near-real-time data transmission.
“LizzieSat’s hyperspectral and multispectral imaging capability will provide potential data solutions for a variety of market verticals within the estimated $1 trillion space economy anticipated by 2040,” commented Carol Craig, Founder & CEO of Sidus Space. “Key industries that will benefit and provide markets for this imaging include agriculture, climate change, renewables, mining, and oil and gas. We look forward to further development of our LizzieSat constellation as we seek to develop and provide access to space-based data on-demand for any problem set or business need.”
The Company plans to monetize its imagery both through previously negotiated contracts and through its agreement with Skywatch and others to sell imagery on their storefront. This hyperspectral and multispectral capability is also key to the Sidus’ strategy to generate recurring revenue streams from new customers as Sidus builds its LizzieSat constellation.
Sidus plans to launch its first LizzieSat on the SpaceX Transporter mission scheduled for later this year and has contracted with SpaceX to launch on four additional flights, with two currently scheduled for 2024 and two more scheduled for 2025, allowing the Company to establish a regular launch cadence for its customers. The Company plans to begin offering hyperspectral and multispectral imaging from its LizzieSats scheduled for launch on SpaceX’s transporter mission in the first quarter of next year.
About Sidus Space
Sidus Space (NASDAQ: SIDU) is a Space and Defense-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 located 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. 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 Space 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 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, 2022, 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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