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."
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%).
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.
For further information: www.urthecast.com; Media Contact: Ana Isabel Martínez, Communication Manager, email@example.com, Ph: +34 617 148 635; www.e-geos.it; Media Contact: Paolo Mazzetti, Head of Media Relations and External Communication, firstname.lastname@example.org, Ph: +39 06 4079 6252