Sidus Space, Inc. (NASDAQ: SIDU) has executed a Memorandum of Understanding (MOU) outlining the company’s collaboration with NamaSys for the establishment of a joint venture with a mission to build, own and operate a satellite manufacturing, production, assembly and integration facility in the Middle East to support Gulf Cooperation Council (GCC) countries and beyond.
The MOU outlines that the parties intend to serve and fulfill the needs and requirements of government and private clients across the Middle East and North Africa (MENA) region while sharing a unified mission of fostering science and technology development. With multiple value propositions, the initial scope of this rewarding collaboration will center attention on exploring opportunities for sustained access to space for the GCC countries through the establishment of satellite manufacturing and space-based data collection.
“This important and accretive relationship is the cornerstone for launching our satellite operations and on-orbit services into the GCC region. The immediate benefits of our technology and services to the Gulf states are a game changer for both the Middle East and Sidus Space. This important and accretive relationship is the cornerstone for launching our satellite operations and on-orbit services into the GCC region. The immediate benefits of our technology and services to the Gulf states are a game changer for both the Middle East and Sidus Space,” said Carol Craig, Founder and CEO of Sidus Space.
“The recent advances in 3D printing, specifically in manufacturing lightweight complex designs for the space industry, will definitely serve as the catalyst in bringing the GCC region closer to par with the leaders in this industry,” said Manhal AlQaisi, CEO of NamaSys. “Under the guidance and support of a technical JV partner such as Sidus Space, we are confident that we made the right choice.”