VANCOUVER, Oct. 20, 2017 /CNW/ - UrtheCast
Corp., its subsidiary Deimos Imaging and e-GEOS (a company owned by
Telespazio and the Italian Space Agency) today announced a
strategic partnership to offer a unique combination of joint
optical and radar sensors with ground stations.
The collaboration will allow observation of the Earth day and night, regardless of weather
conditions, and is intended to provide a constant asset monitoring
service resulting from the specific characteristics of the
COSMO-SkyMed SAR constellation and the Deimos-1 and Deimos-2
optical multispectral sensors.
The combination of high-resolution radar data with medium and
very-high resolution optical imagery is expected to provide
customers with an exceptional level of decision making insights,
and to create a unique and valuable benefit for users in a diverse
group of sectors including emergency services and the oil and gas
industry, among others.
The data acquired by the different satellites, will be jointly
marketed and distributed to the end user, enabling the provision of
seamless products and services.
Both e-GEOS and Deimos Imaging are leading sources of
information solutions for the emergency response sector. The
current space assets of UrtheCast and e-GEOS include the Deimos-1
and Deimos-2 optical multispectral sensors and the COSMO-SkyMed
constellation of the Italian Space Agency and the Italian Ministry
of Defence, consisting of four radar satellites. These assets are
significant contributors to the European Commission's Copernicus
Emergency Management Service, where e-GEOS leads the Rapid Mapping
Team for the operations providing mapping products based on
satellite imagery for disaster risk reduction and emergency
response. In addition, both Deimos Imaging and e-GEOS have
extensive satellite imagery and production capabilities operating
24/7.
"We are very glad to be partnering with UrtheCast because this
collaboration supports and empowers our data strategy to become a
hub for all geospatial data, both optical and SAR to serve reliable
monitoring capabilities and to feed our multi-sensor application
platforms. This agreement confirms the importance to establish
strong and valuable partnerships with key players to provide the
best services to our customers", said Massimo Claudio Comparini, CEO of e-GEOS.
"We see that highly derived products are significantly
broadening the utility of Earth Observation data as near-real time
efficient tools for decision makers. By partnering with e-GEOS, we
are delighted to significantly accelerate decision making in a wide
range of fields", said Fabrizio
Pirondini, CEO at UrtheCast's subsidiary Deimos imaging.
"This joint service is a precursor to our upcoming OptiSAR™
constellation, the world's first fully-integrated constellation of
sixteen multispectral optical and SAR satellites, which is expected
to revolutionize the way we observe and map the Earth."
About e-GEOS
e-GEOS, an Italian Space Agency (20%) and Telespazio (80%)
company, is a leading international player in the geospatial
business. e-GEOS offers a whole range of products and services in
the Earth Observation and in the geo-spatial application domains,
based on both optical and radar satellites as well as on aerial
surveys. e-GEOS operates its Earth Observation centres in Matera
and Neustrelitz, where data from multiple satellites are received
and processed, also for near-real-time monitoring. As the European
hub for very high-resolution data, e-GEOS grants a unique access to
COSMO-SkyMed, IRS, ALOS, DigitalGlobe and Radarsat-1&2
satellites. Telespazio is a joint venture between Leonardo (67%)
and Thales (33%).
About UrtheCast
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
operates Earth Observation (EO) sensors in space, through its
subsidiary Deimos Imaging, including two satellites, Deimos-1 and
Deimos-2, to produce imagery data for partners and customers in
multiple markets. UrtheCast processes and distributes imagery data
and value-added products on behalf of the PanGeo Alliance, a
network of seven satellite operators with a combined 13 medium- and
high-resolution EO sensors. Additionally, UrtheCast is developing
and expects to launch the world's first fully-integrated
constellation of sixteen multispectral optical and SAR satellites,
called OptiSAR™, and an eight-satellite constellation designed to
capture high-quality, medium- resolution optical imagery of the
Earth's entire landmass (excluding Antarctica) every day, called UrtheDaily™.
Common shares of UrtheCast trade on the Toronto Stock Exchange as
ticker "UR".
Forward Looking Information
This release contains certain information which, as
presented, constitutes "forward-looking 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: UrtheCast's expectations with
respect to its business relationship with e-GEOS; UrtheCast's
expectations relating to the performance, features and benefits
relating to the operating and production capacities of Deimos
Imaging and e-GEOS and its proposed OptiSAR™ and UrtheDaily™
constellations; its plans for and timing of expansion of its
product offering and value-added services; and its future growth
and operations plans. Such statements reflect UrtheCast's current
views with respect to future events. Such statements 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: the
termination of the business relationship with e-GEOS; any failures
in the COSMO-SkyMed constellation and the Deimos-1 and Deimos-2
optical multispectral sensors; any reduction or elimination of the
operating and production capacities of e-GEOS and Deimos Imaging;
any delays or failures in the design, development, construction,
launch and operational commissioning of the proposed OptiSAR™ or
UrtheDaily™ constellations; the Company being unable to adequately
finance the development, building, launch and commissioning of the
UrtheDaily™ constellation or to convert the remaining MOUs and
other customer discussions in respect of the OptiSAR™ constellation
into binding, definitive agreements;; the decline of key
relationships in, or termination of, the PanGeo Alliance of EO
satellite operators; loss of key EO imagery sales contracts or
customers; failures aboard the ISS or the Deimos-1 or Deimos-2
satellites; failure to obtain, or loss of, regulatory approvals, as
well as those factors and assumptions discussed in UrtheCast's
annual information form dated March 28,
2017, (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.