Sidus Space Successfully Completes Significant Milestone

Rhea-AI Summary

Sidus Space, Inc. (NASDAQ:SIDU) has successfully completed the LizzieSat™ (LS) Preliminary Design Review (PDR), signaling that the satellite's design and system architecture meet project requirements. This achievement indicates the program is on schedule for its initial launch within a planned fleet of 100 microsatellites intended for diverse customer payloads and space-based data collection. The LS satellites, weighing 100kg, are designed for rapid integration of customer technology, enhancing Sidus Space's capabilities in the commercial satellite sector.

Positive

• Successful completion of the LizzieSat™ Preliminary Design Review (PDR).
• Development of a fleet of 100 microsatellites allows for diverse payload integrations.
• Focus on cost-effective satellite technology for multiple customers enhances market competitiveness.

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 is pleased to announce the successful completion of the LizzieSat™ (LS) Preliminary Design Review (PDR).

A PDR ensures the design and basic system architecture are complete and that there is technical confidence the capability need can be satisfied within cost and schedule goals. A successful PDR means that a satellite is on track and development is progressing as planned.

The LS satellites are partially 3D manufactured Low Earth Orbit (LEO) microsatellites focused on rapid, cost-effective development and testing of upcoming innovative spacecraft technologies for multiple customers and space-based data collection. LS is a 100kg (220-pound) satellite with space to rapidly integrate customer sensors and technologies.

“Our Sidus Space engineers did an excellent job preparing for and executing the PDR, and we are following up with briefings to our payload partners and strategic teammates,” said Jamie Adams, Chief Technology Officer for Sidus Space. “With the PDR complete, our engineering team is one step closer to finalizing and readying for the initial launch in a planned fleet of 100 satellites capable of hosting a variety of custom payloads for a variety of customer missions and collecting space-based data for multiple industries.”

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 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.

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 discussed in the ‘Risk Factors’ section of the final prospectus dated December 13, 2021, 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/20220309005574/en/

Investor Relations

Kevin Holmes

Chesapeake Group

+1-410-825-3930

kevinholmes@chesapeakegp.com



Media

Karen Soriano

karen.soriano@sidusspace.com

+1-443-900-2437

http://www.sidusspace.com

Source: Sidus Space, Inc.

FAQ

What is the recent announcement by Sidus Space (SIDU)?

Sidus Space has announced the successful completion of the LizzieSat™ (LS) Preliminary Design Review (PDR), a significant step in their satellite development process.

What does the LizzieSat™ (LS) Preliminary Design Review (PDR) mean for Sidus Space (SIDU)?

The successful PDR indicates that the design and system architecture for the LizzieSat™ satellites are on track, suggesting the project will meet its cost and schedule goals.

How many microsatellites is Sidus Space (SIDU) planning to develop?

Sidus Space plans to develop a fleet of 100 microsatellites as part of their LizzieSat™ project.

What are the key features of Sidus Space's LizzieSat™ satellites?

The LizzieSat™ satellites are 100kg microsatellites designed for rapid integration of customer sensors and technologies, aimed at space-based data collection.

When is Sidus Space (SIDU) expecting to launch their microsatellites?

The initial launch of the LizzieSat™ satellites is planned following the successful completion of the Preliminary Design Review.