VANCOUVER, July 29, 2016 /CNW/ - UrtheCast Corp.
(TSX:UR) ("UrtheCast" or the "Company") today announces that it has
signed a strategic partnership with OmniEarth, Inc. ("OmniEarth")
in support of UrtheCast's planned UrtheDaily Constellation,
expected to be capable of imaging 140 million square kilometers of
the global landmass every day at 5 meters GSD. The
UrtheCast-OmniEarth partnership includes collaborative system
development, the sharing of intellectual property, and joint
customer marketing activities.
Based in Arlington, VA,
OmniEarth is a leading data analytics company and a large consumer
of Earth imagery. The company specializes in image processing, data
fusion, and predictive analytics, in essence turning big data into
actionable intelligence. One of OmniEarth's leading products is a
tool for water utilities that estimates water demand, but the
company has also served the energy industry, the agricultural
sector, and the US Federal Government.
"We are delighted to announce a strategic partnership with
UrtheCast and to make a commitment to using the UrtheDaily system,"
stated Dr. Lars Dyrud, OmniEarth's
CEO. "The OmniEarth team has long recognized the value of daily
revisit, and we are thrilled to work with UrtheCast to help develop
UrtheDaily, a mission designed from the ground-up to produce
'exquisite', analytics-ready, scientific quality data that is
required to fully realize the potential for many large geoanalytics
markets, and particularly for digital agriculture. UrtheDaily will
bring machine learning and automated geoanalytics to whole new
markets — and will do so at a scale never before achieved."
One of the key target market areas for UrtheDaily is the
rapidly-growing demand for in-season precision agriculture. Daily
revisit, combined with UrtheCast's scalable data distribution
capabilities enabled by its cloud-based UrthePlatform, are
anticipated to enable growers to proactively measure and manage
crop health and identify pest infestation early enough to prevent
major losses. Other domains that will benefit from daily coverage
of the global landmass include asset monitoring, environmental
monitoring, change detection for intelligence applications, and a
host of financial prediction applications in areas such as retail
and freight monitoring.
"We are really excited about this partnership," explained
UrtheCast's President and Chief Executive Officer, Wade Larson. "Not only is this a significant
endorsement of the UrtheDaily solution from a company that is an
undisputed technology leader in geoanalytics, but it is also a
major step forward for us commercially in bringing to fruition our
UrtheDaily plans, which we believe will set the new gold standard —
particularly in the digital agricultural sector — for many years to
come. Partnering with OmniEarth in the final design stage will help
to ensure that the constellation delivers the precise imagery
products that digital agriculture and numerous other geoanalytics
markets demand."
UrtheCast (and its subsidiary Deimos Imaging) will be exhibiting
and meeting customers at the InfoAg Conference in St. Louis, Missouri, on August 2-4, 2016. The Company's representatives
will be sharing further details on the planned market-leading
capabilities of UrtheDaily for agriculture, as well as immediate
opportunities today with UrtheCast's current sensor suite,
including its Deimos-1 satellite.
UrtheCast To Host 2016 Second Quarter Conference Call On
August 9, 2016
UrtheCast will also host a conference call regarding its 2016
second quarter financial results at 5:00
p.m. ET (2:00 p.m. PT) on
Tuesday, August 9, 2016. The live
conference call will be available by calling toll-free at
866-696-5910, or by toll at 416-340-2217. The participant pass code
is 4686716.
An archived version of the conference call will be made
available on the Company's investor website
(investors.urthecast.com) following the live conference call.
ABOUT URTHECAST CORP.
UrtheCast Corp. is a
Vancouver-based technology company
that serves the rapidly evolving geospatial and geoanalytics
markets with a wide range of information-rich products and
services. The Company currently operates four Earth Observation
sensors in space, including two cameras aboard the International
Space Station and two satellites, Deimos-1 and Deimos-2. Imagery
and video data captured by these sensors is downlinked to ground
stations across the planet and displayed on the UrthePlatform, or
distributed directly to partners and customers. UrtheCast is also
developing and anticipates launching the world's first
fully-integrated constellation of multispectral optical and SAR
satellites, called OptiSAR™, in addition to its proposed
UrtheDaily™ constellation concept, which the Company believes will
together revolutionize monitoring of our planet with high-quality,
medium and high-resolution, and high-coverage and high-revisit
imagery in all weather conditions, any time of day. Common shares
of UrtheCast trade on the Toronto Stock Exchange as ticker
'UR'.
ABOUT OMNIEARTH
OmniEarth improves its subscribers'
ability to visualize the world around them by enhancing their
ability to see, analyze, and react to change in real time. Through
a constant stream of geoinformatics, OmniEarth subscribers always
have access to imagery and derived information products from any
location on Earth – on demand and over time. OmniEarth's desire to
investigate unanswered questions about our changing planet has led
it to produce a reliable, constant data stream and enhanced
decision-making tools for subscribers in the agriculture, energy,
civil and military markets … and everyone else who wants to better
understand Earth. www.omniearth.net
For more information, visit UrtheCast's website
at www.urthecast.com.
Forward Looking Information
This release contains
certain information which, as presented, constitutes
"forward-looking information" or "forward-oriented financial
information" within the meaning of applicable Canadian securities
laws. Forward-looking information involves statements that relate
to future events and often addresses expected future business and
financial performance, containing words such as "anticipate",
"believe", "plan", and "expect", statements that an action or event
"may", "might", "could" or "will" be taken or occur, or other
similar expressions and includes, but is not limited to; its plans
for and timing of expansion of its product offering and value-added
services; its future growth and operations plans; the success of
the strategic partnership between UrtheCast and OmniEarth; the
acceptance by its customers and the marketplace of new satellite
imaging content, technologies and solutions; and the completion and
operation of the proposed UrtheDaily Constellation. Such statements
reflect UrtheCast's current views with respect to future events and
are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by UrtheCast, are inherently
subject to significant uncertainties and contingencies. Many
factors could cause UrtheCast's actual results, performance or
achievements to be materially different from any future results,
performance, or achievements that may be expressed or implied by
such forward-looking statements, including, among others: any
delays or failures in the design, development, construction, launch
and operational commissioning of the proposed UrtheDaily or
OptiSAR™ constellations; the Company being unable to adequately
finance the development, building, launch and commission of the
UrtheDaily Constellation or to convert the existing Memoranda of
Understanding in respect of funding of the
OptiSAR™ constellation into binding, definitive agreements;
interruptions to or failures of UrtheCast's infrastructure; legal
and regulatory changes, as well as those factors and assumptions
discussed in UrtheCast's annual information form dated March 29, 2016, (the "AIF"), which is available
under UrtheCast's SEDAR profile
at www.sedar.com. Forward-looking information is
developed based on assumptions about such risks, uncertainties and
other factors set out herein, in the AIF, and as disclosed from
time to time on UrtheCast's SEDAR profile. UrtheCast undertakes no
obligation to update forward-looking statements except as required
by Canadian securities laws. Readers are cautioned against
attributing undue certainty to forward-looking statements.
SOURCE UrtheCast Corp.