$1.5 m Satellite-AIS Contract with Geospatial Intelligence Agreement marks exactEarth's return to the Australian government market
CAMBRIDGE, ON, Oct. 25, 2021 /CNW/ - exactEarth Ltd. ("exactEarth" or "the Company") (TSX: XCT), a leading provider of Satellite-AIS data services, announces a $1.5 million one-year Satellite-AIS services contract with Geospatial Intelligence Pty Ltd ("GI") of Barton, Australia. All financial figures are in Canadian dollars unless otherwise stated.
Under the terms of the agreement, exactEarth will provide GI with the Company's real-time exactAIS® Platinum Plus product, its Shipview™ web-based analysis tool, certain historical Satellite-AIS data sets and its Position Anomaly analytics application. GI will deploy the services with its customer, an agency within the federal government of Australia. The term of the contract is one-year.
"We are very pleased to expand our channel partner relationship with GI and by extension, to once again be providing our Satellite-AIS services to the Australian government," said Peter Mabson, CEO of exactEarth. "This is a significant contract for the Company and one that builds on the momentum we have established over the past couple of years since the launch of exactView™ RT, our second-generation satellite constellation, and exactAIS, our real-time subscription-based Satellite-AIS service."
Satellite-AIS is a navigational safety system by which ships relay information regarding their identity, position, speed and heading that is then captured by a satellite constellation, such as exactView RT. Leveraging the exactView RT constellation, exactAIS Platinum Plus and Shipview combine to give users a comprehensive view of vessel traffic at any point in the world at any time of the day. These products enhance maritime domain awareness for government authorities and commercial organizations, with superior vessel detection, real-time vessel updates, and unparalleled persistent coverage.
"exactEarth is a premier Satellite-AIS services provider with a broad suite of products and a reputation for quality, reliability and innovation," said Rob Coorey, CEO of Geospatial Intelligence. "exactEarth pioneered the development of the Satellite-AIS industry more than 10 years ago, and our relationship dates back to those early days. The Company has the world's largest database of vessel movements and more importantly, they continue to innovate and push into new areas of the market with analytics applications like its position anomaly service."