Successful Completion of System Requirements & Design Review Demonstrates Progress Toward Q4 Launch of Innovative Precision Positioning, Navigation and Timing Payload
February 20 2024 - 8:30AM
Business Wire
Sidus Space (NASDAQ: SIDU) (the “Company” or “Sidus”), a
multi-faceted Space and Data-as-a-Service company, today announced
that it has successfully completed its Systems Requirements Review
(SRR) and System Design Review (SDR) for an innovative customer
solution being integrated into its LS-3 satellite. The SRR and SDR
are important program milestones marking the baselining of the
requirements for the mission and design of the navigation payload
into Sidus’ commercially developed, owned, and operated small
satellite.
The SRR reviewed team specifications to ensure they reflect the
current knowledge of the mission and market requirements to serve
as a stable baseline to proceed with development. The Sidus team is
maturing the design of its customer’s payload for an expected
integration for launch later this year. Sidus was awarded the
contract in the fourth Quarter of 2023.
The joint Sidus/Customer combined SRR and SDR reviews evaluated
technical design readiness, joint mission pre-launch tasks to
certify LS-3 for launch, and the mission ops tasks performed in
space to achieve mission success. All parties agreed the LS-3
integrated architecture safely meets approved mission success
criteria on schedule and within budget.
“At Sidus Space, we are building a Space Platform with a
Purpose™ to benefit life on Earth, and enabling a catalyst for
disruptive technological breakthroughs and innovations that will
shape the future,” said Carol Craig, CEO of Sidus Space.
About Sidus Space
Sidus Space (NASDAQ: SIDU) is a multi-faceted Space and
Data-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. The Company is in Cape Canaveral, Florida,
where it operates from a 35,000-square-foot manufacturing,
assembly, integration, and testing facility focused on vertically
integrated Space-as-a-Service solutions including end-to-end
satellite support.
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. More than just a
“Satellite-as-a-Service” provider, Sidus Space’s products and
services are offered through its four business units: Space and
Defense Hardware Manufacturing, Satellite Manufacturing and Payload
Integration, Space-Based Data Solutions, and AI/ML Products and
Services to support customers from concept to Low Earth Orbit and
beyond. Sidus Space 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240220019273/en/
Investor Relations Valter Pinto, Managing Director KCSA
Strategic Communications sidus@kcsa.com (212) 896-1254
For media inquiries: press@sidusspace.com
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