Dec 04, 2017, 04:00 ET
MADRID, Spain, Dec. 4, 2017 /CNW/ - UrtheCast Corp. and its subsidiary, the Earth Observation company Deimos Imaging, today announced the signing of a strategic cooperation agreement with Beijing Space View Technology Co. Ltd. ("Space View"), a leading provider of remote sensing satellite data and geospatial information services based in China, for the mutual global distribution of their respective product portfolios.
The space assets of Deimos Imaging and Space View include Deimos-1, Deimos-2 and the satellite SuperView constellation, of which currently 2 satellites have been launched, with the next two to be launched at the end of 2017, resulting in a wide portfolio of medium, high and very high-resolution satellites. These assets are complementary and are expected to provide customers with an exceptional level of decision making data, and to create unique and valuable benefits across a diverse group of sectors while strengthening the positions of both companies in their respective markets.
This collaboration will ensure a daily global imaging capability, with multiple revisit opportunities per day over any target. This is key for a wide range of applications, especially those requiring a frequent monitoring over the same area of interest and a real-time response, such as emergency services, border and maritime surveillance and defence and security.
"We are very excited about the strategic cooperation with UrtheCast to expand our international reach, and for new users to explore the potential of our large multi resolution constellation," said Lily Xu, CEO of Space View. "Together with Urthecast's Earth Observation company, Deimos Imaging, I fully believe our combined experience, history and future strategic ambitions align to support both our upcoming constellations."
"We are delighted to join Space View in a collaboration that, we believe, can significantly accelerate strategic decision making for a wide range of end users," said Fabrizio Pirondini, CEO at Deimos Imaging. "This agreement confirms the importance of partnerships and alliances with other stakeholders to provide our customers with fast, ready to use solutions tailored to their needs. Focusing our greatly expanded scale of Earth Observation imagery data on our customers' needs, will rapidly expand the potential to create unique value-added products for our clients."
About Beijing Space View Technology Co., Ltd Located in Beijing, Space View is a leading provider of Earth Observation satellite data and geospatial information services in China. The company business covers optical and SAR satellite imagery, data processing, value-added products, solutions, software and GIS platform. As the operator of SuperView constellation from space to ground, not only does Space View manage the imaging services, but also promotes construction of direct-receiving and virtual stations around the World. SuperView constellation is named as "16+4+4+X" constellation, consisting of 16 0.5m PAN & 2m MS resolution satellites, 4 higher-performed optical satellites, 4 VHR SAR satellites and a fleet of video & hyper-spectral satellites. Space View is also the authorized global distributor of Chinese satellite data collected by GF, ZY and HJ satellites.
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 a 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".
For more information, visit UrtheCast's website at www.urthecast.com.
Forward Looking Information
This release may contain certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Within this release forward-looking statements may include, without limitation, statements with respect to UrtheCast's future plans, strategies and objectives, timing of milestones, including in respect of the planned OptiSAR™ and UrtheDaily™ satellite constellations; the potential precursor program to the OptiSAR Constellation; Space View's plans; projected revenues, future trends, opportunities and growth in UrtheCast's industry; UrtheCast's ability to maintain and enhance its competitive advantages within its industry and in certain markets; new product functionality and suitability; projected operating expenses and capital expenditures. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance, timing, milestones or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, without limitation, any delays or failures in the design, development, construction, launch and operational commissioning of the proposed UrtheDaily and OptiSAR™ constellations and Space View satellites; the Company being unable to adequately finance the development, building, launch and commission of the UrtheDaily and OptiSAR™ constellations, uncertainty on whether any unused capacity from the precursor SAR satellite will be available to UrtheCast; interruptions to or failures of UrtheCast's or Space View's infrastructure; legal and regulatory changes or the prevention of the export of certain technologies related to the OptiSAR Constellation by government regulators with jurisdiction over UrtheCast; the ability of UrtheCast to obtain qualified employees, contractors and subcontractors, as well as those factors and assumptions discussed in UrtheCast's annual information form dated March 27, 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. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE UrtheCast Corp.
For further information: Ana Isabel Martínez, Communications Manager, [email protected], +34 617 148 635
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