Sidus Space to Power Advanced Maritime Solutions with New AIS Integration in LizzieSat™ Constellation

Rhea-AI Summary

Sidus Space, Inc. (NASDAQ:SIDU) has partnered with SatLab to integrate its second-generation Automated Identification System (AIS) technology into Sidus's LizzieSat™ satellite constellation. This collaboration enhances vessel tracking and monitoring capabilities, aiming to prevent collisions and improve maritime safety. The global AIS market is projected to grow from $260 million in 2021 to $440 million by 2030. Sidus Space focuses on providing Space-as-a-Service, combining satellite design, manufacturing, and data services. The integration is expected to attract prospective customers and improve efficiencies in maritime operations.

Positive

• Partnership with SatLab to integrate AIS technology into LizzieSat™ satellites.
• Enhanced vessel tracking capabilities to improve maritime safety.
• Global AIS market growing from $260 million in 2021 to $440 million by 2030.

Negative

• None.

CAPE CANAVERAL, Fla.--(BUSINESS WIRE)-- Sidus Space, Inc. (NASDAQ:SIDU), a Space-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, announced an agreement with SatLab to implement its second-generation automated identification system (AIS) technology into the Company’s LizzieSat^™ satellite constellation.

AIS technology uses sophisticated systems on board marine vessels to identify and track ships in order to prevent collisions and protect life at sea. The integration of this technology into Sidus’s satellites will enable more accurate vessel tracking and monitoring while providing valuable information about ship movements in real time

“We are excited to partner with SatLab to support the AIS industry and growing Maritime market," said Carol Craig, Sidus Space Founder and CEO. “Utilizing AIS technology combined with our on-orbit Hyperspectral imagery will support real-time data processing, which allows for immediate results and greater efficiencies. Our one-of-a-kind 3D printed space infrastructure supports multiple verticals including Maritime and we believe this data will be attractive to prospective customers.”

SatLab’s AIS technology enables enhanced safety for mariners as well as increased efficiency in port operations and improved visibility of ship traffic patterns for better resource planning and environmental management.

The global AIS market was $260 million in 2021 and is projected to grow to $440 million in 2030, according to Straits Research.

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.

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, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230321005527/en/

Investor Relations

Dave Gentry

RedChip Companies Inc.

SIDU@redchip.com

1-800-RED-CHIP (733-2447)

Or 407-491-4498

Heather Crowell

Executive Vice President

Gregory FCA

heather@gregoryfca.com

321-450-5633 x407

Media Contact

Katie Kennedy

Senior Vice President

Gregory FCA

katiek@gregoryfca.com

1-610-731-1045

Source: Sidus Space

FAQ

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

Sidus Space announced a partnership with SatLab to implement second-generation AIS technology into its LizzieSat™ satellite constellation.

How will the AIS technology benefit Sidus Space?

The AIS technology will enhance vessel tracking and monitoring, improving maritime safety and efficiency in operations.

What is the projected growth of the AIS market?

The global AIS market is projected to grow from $260 million in 2021 to $440 million by 2030.

What is the stock symbol for Sidus Space?

The stock symbol for Sidus Space is SIDU.