Sidus Space Signs MOU with Exo-Space to Support Edge Computing Technology

Rhea-AI Summary

Sidus Space (NASDAQ:SIDU) has entered a memorandum of understanding with Exo-Space to integrate the FeatherEdge Data Processing Platform into its LizzieSat™. This partnership aims to enhance satellite edge computing technology for on-orbit testing and proof-of-concept data collection. The collaboration will support real-time intelligence from Earth observation data, targeting applications like illegal fishing detection and natural disaster monitoring. Sidus seeks to establish itself as a leading Space-as-a-Service provider, enhancing its offerings and fostering collaborative missions.

Positive

• Partnership with Exo-Space enhances satellite technology and data processing capabilities.
• Integration aims to improve the Technology Readiness Level of LizzieSat™.
• Focus on real-time intelligence applications can attract commercial and government clients.
• Potential to address global crises through advanced monitoring and data collection.

Negative

• None.

Exo-Space’s FeatherEdge Data Processing Platform to be Integrated into LizzieSat^TM

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 Exo-Space to further commercialize its satellite edge computing technology.

With this partnership, Sidus Space will integrate Exo-Space’s FeatherEdge Data Processing Platform into its hybrid 3D printed satellite, LizzieSat™. Through collaboration on data processing and storage technology in space, on-orbit testing of the device in a space environment will provide proof-of-concept data, increase the product’s overall Technology Readiness Level, and establish integration processes for future collaborative missions.

This collaborative technology implementation will provide near-real-time intelligence derived from Earth Observation data while onboard the satellite, enabling both commercial and government customers to take more effective action in time-sensitive operations. Applications include but are not limited to: identification of unregistered/dark marine vessels, particularly for intervention against illegal fishing at the source; identifying natural disasters, such as floods and wildfire as they occur and tracking their progress and damage caused; and identifying events that contribute to environmental crises such as oil spills and methane leaks. With the proper sensor complement and adequate presence and placement of satellite constellation resources, this collaborative technology implementation can provide persistent monitoring for real-time notification of events anywhere on Earth.

“We are excited to partner with Exo-Space to provide proof-of-concept for its critically important technology and a long-term path for providing real-time solutions,” said Carol Craig, Sidus CEO/Founder. “As we look at the landscape of space opportunities, this is one of the many types of solutions we intend to bring to our customers on our mission to ‘Bring Space Down to Earth’ in a collaborative environment as a leading Space-as-a-Service provider.”

“The shared vision between our companies provides a path to pair our computing technology with Sidus’ spacecraft resources, enabling the delivery of intelligence that will help to effectively address a number of existing global crises humanity is facing, as well as those that present themselves in the future,” said Jeremy Allam, CEO & Co-founder, Exo-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 Exo-Space

Exo-Space, located in Los Angeles, California, develops high performance data processing devices, and intelligent middleware to enable implementation of computationally intensive data processing applications, particularly those with a basis in artificial intelligence and machine learning, onboard spacecraft. Operating in an emerging market servicing customers that require ultra-low-latency space analytics, Exo-Space has developed and thoroughly tested a unique platform that creates mission flexibility and high-performance computing for its host spacecraft.

Exo-Space's technology provides benefits to both satellite operators, adding a layer of intelligence to their operations, as well as Earth-based entities, providing insights on Earth Observation data collected with sub-minute latency. Exo-Space's technology is built to operate anywhere that data is generated, from Low Earth Orbit, to the moon, to Mars 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220823005315/en/

Investor Relations

Kevin Holmes

Chesapeake Group

kevinholmes@chesapeakegp.com

+1-410-825-3930

Media Contact

Katie Kennedy

Gregory FCA

katiek@gregoryfca.com

+1-610-731-1045

www.sidusspace.com

Source: Sidus Space Inc.

FAQ

What is Sidus Space's recent partnership about?

Sidus Space has partnered with Exo-Space to integrate the FeatherEdge Data Processing Platform into its LizzieSat™ satellite, enhancing edge computing capabilities.

How will the partnership impact Sidus Space?

The partnership is expected to improve the Technology Readiness Level of LizzieSat™ and enable real-time intelligence applications for commercial and government clients.

What applications will benefit from the FeatherEdge integration?

Key applications include monitoring illegal fishing, natural disasters, and environmental crises through enhanced Earth observation data.

What is Sidus Space's stock symbol?

Sidus Space is traded under the stock symbol SIDU on NASDAQ.