Sidus Space Expands Commercial Data Distribution Strategy Through Agreement with SkyWatch
Sidus Space (NASDAQ: SIDU) has entered an agreement with SkyWatch to utilize its TerraStream data-management platform. This partnership aims to enhance Sidus' commercial data distribution strategy and expand its customer base. TerraStream will allow Sidus to provide cost-effective access to Space-based data, contributing to new revenue streams and customer engagement. The launch of LizzieSat-1 in 2023 will further support this strategy by supplying mission-based data focusing on various industries. The partnership is expected to position Sidus strongly in the growing market for remote sensing data.
- Partnership with SkyWatch to enhance data distribution capabilities.
- Expected revenue generation from expanding customer bases and data services.
- Launch of LizzieSat-1 in 2023 will provide valuable data to multiple industries.
- None.
SkyWatch’s TerraStream Data-Sharing Marketplace Enhances Sidus’ Visibility with Subscribers
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
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
“We’re thrilled to partner with
About
About SkyWatch
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
About TerraStream
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.
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
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Investor Relations
SIDU@redchip.com
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Or 407-491-4498
Executive Vice President
Gregory
heather@gregoryfca.com
Media Contact
Senior Vice President
Gregory
katiek@gregoryfca.com
1-610-731-1045
www.sidusspace.com
SkyWatch Media Contact
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kelly@skywatch.com
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