Sidus Space Signs Memorandum of Understanding with Dhruva Space Expanding their Collaborative Partnership to Serve Global Customers with Space Technologies and Services

Rhea-AI Summary

Sidus Space (NASDAQ:SIDU) has signed a memorandum of understanding with Dhruva Space to enhance commercialization of innovative space technologies. This partnership aims to support space missions in India and the U.S. through collaborations on satellite operations, R&D, and technology commercialization. It will involve the marketing and deployment of satellites to improve technology readiness levels. Sidus CEO Carol Craig highlights this agreement as a key step toward expanding opportunities for both companies.

Positive

• Partnership with Dhruva Space to explore innovative space technologies.
• Collaboration to support space missions in India and the U.S.
• Focus on research and development of new space technologies.
• Enhancement of satellite deployment and operational capabilities.

Negative

• None.

CAPE CANAVERAL, Fla.--(BUSINESS WIRE)-- Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection, recently signed a memorandum of understanding with Dhruva Space Private Limited to further commercialization of new and innovative space technologies and services.

With this partnership, Sidus Space and Dhruva Space will explore collaborations to support the missions of the space programs in India and the United States through strategic alignment and value-add agreements related to satellites, Mission Operations Centers, Ground Stations, space-related hardware and software, and other technologies.

The partnership will include a foundation of services that will support:

• Each company’s individual research and development of new space technologies, while also pursuing space science research and planetary exploration;
• Collaboration on the fielding of satellites and related technologies;
• The discovery and expansion of knowledge for the benefit of humanity; and
• The commercialization of tested and sustained space technologies.

The agreement will also include the sales and marketing of manufacture, integration, and deployment of satellites to rapidly raise the Technology Readiness Level (TRL) for technologies with on-orbit testing of subsystems and other technologies in a space environment.

“Our renewed and enhanced agreement with Dhruva Space is another significant step towards our collective plans to design, manufacture, deploy and support constellation-based solutions for global commercial and government customers. This agreement with Dhruva was just one of the many significant customer and partner opportunities that came out of the SATELLITE 2022 conference in March,” said Carol Craig, Sidus CEO/Founder. “We believe this relationship with Dhruva will significantly increase the number of potential opportunities and customers of both companies. With Dhruva, we look forward to meeting our goals of bringing space down to Earth for anyone with our turnkey solutions.”

"Following the exciting events of Sidus Space undertaking a zero-gravity test of our CubeSat deployer in December 2021, we look forward to this new phase of our partnership with Sidus Space that marks a new phase of growth and collaboration. We look forward to aggrandizing the Government of India's emerging and progressive Space Policy initiatives, as the privatization of India's Space Sector moves ahead. The continuation of the Sidus Space-Dhruva Space partnership will engender stronger bilateral cooperation between India's and the United States' commercial spheres to jointly offer Space Technology solutions for the global market," said Sanjay Nekkanti, CEO & Co-founder, Dhruva 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 Dhruva Space

Dhruva Space, founded in 2012, is a Full-Stack Space Engineering Solutions provider, based in Hyderabad, India and in Graz, Austria. The company is active across space, launch, and ground segments and supports civilian and defense clients worldwide.

Dhruva Space offers satellites teamed with Earth Stations and launch services as an integrated solution or individually as technology solutions to power space-based applications on Earth and beyond.

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, 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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Investor Relations

Kevin Holmes

Chesapeake Group

kevinholmes@chesapeakegp.com

+1-410-825-3930

Media

Karen Soriano

karen.soriano@sidusspace.com

+1-443-900-2437

www.sidusspace.com

Source: Sidus Space, Inc.