Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing combined with commercial satellite design, manufacture, launch, and data collection, has signed a Memorandum of Understanding ("MOU") with Capital C.
As part of the agreement, Sidus will assist in developing, delivering, and maintaining surveillance and tracking systems with software that utilizes satellite imagery, sensor data, and data delivery. Sidus will provide continued access to LEO satellite communications systems as well as the design and manufacture of specialized marine parts as a preferred vendor to Capital C.
This partnership blends Sidus' rich manufacturing heritage with areas of strategic growth including satellite technology and data subscriptions as it prepares to launch its proprietary, partially 3-D printed, LizzieSat satellites in 2023. The use of 3-D printing, as opposed to traditional manufacturing, is a sustainable method that reduces waste, resources, cost and time.
Capital C is a design and technology company specializing in designing yachts that are at the forefront of sustainability and are Carbon Positive, incorporating advanced technology, robotics, safety systems and autonomous systems within its designs, which are also focused on environmentally friendly and greatly reduced emissions capabilities.
"We are excited to establish this relationship with Capital C, a leader in sustainability, capitalizing on both our maritime experience and our growing satellite vertical," said Carol Craig, Sidus Space Founder and CEO. "Being part of creating a sustainable space economy is important to us and we are particularly excited by this partnership."
"We are delighted to announce our partnership with Sidus for providing us with sustainable satellite communication solutions. Sidus' expertise in satellite communications and space-rated engineering and manufacturing will be a key component of our sustainable approach to design and build of our Sustainable Notation Yachts.
As part of the development of Project Terra, it is our commitment to providing better communication and data solutions within SIDS and the emerging market. This collaboration with Sidus is an essential part to achieve this," said Cindy Devina, Founder and Managing Director of Capital C.
LEO satellites are capable of enhancing Global maritime security related to hazards in the marine environment and piracy activities which jeopardize safety and efficiency.
Sidus plans to support surveillance with our LizzieSat constellation which will monitor a variety of possible factors including piracy, changes in ocean currents, debris, and oil spillage. We plan to do this with a combination of imagery, RF sensors, and compute at the edge technologies coupled with shipboard technologies to provide comprehensive enhanced situational awareness for Capital C products and services.
According to Euroconsult, the SmallSat (spacecraft with a mass of less than 500 kg) manufacturing market is expected to grow 258% to $55.6 billion in the next decade. The total space economy is forecasted to surpass $1 trillion by 2040, up from $370 billion in 2020.
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