Sidus Space, Inc. (NASDAQ:SIDU), has signed an agreement with SkyWatch for use of its TerraStream data-management platform. Sidus Space is a Space-as-a-Service company providing mission critical hardware manufacturing and commercial satellite design, manufacture, launch, and data collection.
This agreement is expected to accelerate the expansion of Sidus’ commercial data distribution strategy that includes white labeling data for the company’s existing customers and driving growth of new data customers. Serving as a key contributor to the Space data marketplace, the agreement is expected to generate additional revenue for the Company and engage customers that otherwise may not have connected with Sidus.
The TerraStream platform provides end-to-end data management and distribution capabilities to satellite operators, and provides an accelerated path to grow revenue and new markets through EarthCache, SkyWatch’s remote sensing platform. Using TerraStream eliminates the need for IT infrastructure, enabling Sidus to provide cost-effective access to Space-based data and deliver on its mission of “Bringing Space Down To Earth™”. Sidus forecasts that its revenue mix will include a variety of users and industries and an increase in remote sensing data customers and analytics subscriptions.
“A key part of our business plan has always included monetizing high-impact data for insights on virtually every commercial sector, and, as we prepare to launch LizzieSat™ this year, this agreement represents an important milestone on that journey,” said Carol Craig, Sidus Space Founder and CEO. “As new customers and industries begin to understand how Space-based data can impact business strategy, we believe that Sidus is well-positioned to capitalize on the increasing demand.”
LizzieSat-1, the maiden flight of Sidus’ multi-mission satellite constellation, is expected to launch in 2023 into a mid-inclination Low Earth Orbit from Cape Canaveral, Florida. LizzieSat-1 will supply mission-based data to clients and consumers focused on climate change, maritime shipping industry activities, and other commercially relevant interests.
“We’re thrilled to partner with Sidus Space on their mission to ‘Bring Space Down to Earth’,” said Joel Cumming, Chief Technology Officer at SkyWatch. “We share a mission to make Earth observation and remote sensing data more accessible to solve critical issues, and we look forward to working with the team at Sidus as they continue this important work.”