Sidus Space Signs MOU with Capital C to Provide Maritime Satellite Design and Surveillance
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, has signed a Memorandum of Understanding ("MOU") with Capital C.
As part of the agreement, Sidus will assist in developing, delivering, and maintaining surveillance and tracking systems with software that utilizes satellite imagery, sensor data, and data delivery. Sidus will provide continued access to LEO satellite communications systems as well as the design and manufacture of specialized marine parts as a preferred vendor to Capital C.
This partnership blends Sidus' rich manufacturing heritage with areas of strategic growth including satellite technology and data subscriptions as it prepares to launch its proprietary, partially 3-D printed, LizzieSat™ satellites in 2023. The use of 3-D printing, as opposed to traditional manufacturing, is a sustainable method that reduces waste, resources, cost and time. Capital C is a design and technology company specializing in designing yachts that are at the forefront of sustainability and are Carbon Positive, incorporating advanced technology, robotics, safety systems and autonomous systems within its designs, which are also focused on environmentally friendly and greatly reduced emissions capabilities.
"We are excited to establish this relationship with Capital C, a leader in sustainability, capitalizing on both our maritime experience and our growing satellite vertical," said Carol Craig, Sidus Space Founder and CEO. "Being part of creating a sustainable space economy is important to us and we are particularly excited by this partnership."
"We are delighted to announce our partnership with Sidus for providing us with sustainable satellite communication solutions. Sidus' expertise in satellite communications and space-rated engineering and manufacturing will be a key component of our sustainable approach to design and build of our Sustainable Notation Yachts. As part of the development of Project Terra, it is our commitment to providing better communication and data solutions within SIDS and the emerging market. This collaboration with Sidus is an essential part to achieve this," said Cindy Devina, Founder and Managing Director of Capital C.
LEO atellites are capable of enhancing Global maritime security related to hazards in the marine environment and piracy activities which jeopardize safety and efficiency.
Sidus plans to support surveillance with our LizzieSat constellation which will monitor a variety of possible factors including piracy, changes in ocean currents, debris, and oil spillage. We plan to do this with a combination of imagery, RF sensors, and compute at the edge technologies coupled with shipboard technologies to provide comprehensive enhanced situational awareness for Capital C products and services.
According to Euroconsult, the SmallSat (spacecraft with a mass of less than 500 kg) manufacturing market is expected to grow 258% to $55.6 billion in the next decade. The total space economy is forecasted to surpass $1 trillion by 2040, up from $370 billion in 2020.
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 Capital C
Capital C Design and Technology Ltd. (Capital C) is a design and technology company specializing in designing Superyachts and Passenger Expedition Yachts that are at the forefront of sustainability and compliant to IMO 2050 TODAY.
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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