Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Sidus Space Receives NOAA Tier 1 License

SIDU

Tier 1 license grant is a key milestone in launch readiness preparations for LizzieSat’s expected maiden flight in 2023

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 secured U.S. regulatory approval to provide global data services from its upcoming LizzieSat-1 mission through a Tier 1 license granted by the National Oceanographic and Atmospheric Administration (NOAA).

“Securing the NOAA Tier 1 license, which has the fewest conditions under a streamlined regulatory regime that came into effect in 2020, is an important milestone toward our readiness to launch,” stated Carol Craig, CEO of Sidus Space. “We look forward to sharing additional milestone achievements as we continue to execute our planned development and preparations for our LizzieSat constellation.”

LizzieSat-1, the maiden flight of the planned LizzieSat satellite constellation, is expected to launch on a SpaceX Falcon 9 in 2023 from Cape Canaveral, Florida into a mid-inclination Low Earth Orbit. This orbit, matched with LizzieSat’s precise attitude control capabilities, will allow for collection of thousands of Earth images daily during LizzieSat-1’s multi-year mission. LizzieSat-1 high-priority images will utilize “compute-on-the-edge” technology to process imagery onboard before downlink, maximizing operational efficiencies. Data from the mission will be supplied to clients and consumers focused on maritime shipping industry activities, climate change, and other commercially relevant interests.

Sidus signed a multi-launch agreement with SpaceX for five LizzieSat rideshare missions beginning in 2023. These five satellite missions support previously announced customers as well as potential future customers as Sidus continues to layer new missions into its pipeline.

Sidus Space previously received NOAA approval for Earth imagery mounted on its External Flight Test Platform (EFTP). EFTP is an on-orbit external experimental facility which was designed, manufactured, and assembled in-house at the Company’s facilities in Cape Canaveral. EFTP is designed to mount externally to the International Space Station (ISS) and promote electronics testing to raise Technology Readiness Levels (TRL) at a low cost and a reduced time frame. EFTP was successfully launched in November 2019 aboard the Northrop Grumman Cygnus (NG-12) mission. After nine months of in-space testing, EFTP was returned inside the ISS and transported back to Earth aboard a SpaceX Dragon spacecraft during the CRS-21 mission.

About Sidus Space

Sidus Space (NASDAQ: SIDU), located in Cape Canaveral, Florida, operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on commercial satellite design, manufacture, launch, and data collection. The Company’s rich heritage includes the design and manufacture of many flight and ground component parts and systems for various space-related customers and programs. Sidus Space has a broad range of Space-as-a-Service offerings including space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management. 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.

Sidus Space has a mission of Bringing Space Down to Earth™ and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry, or vertical can start their journey off-planet with Sidus Space’s rapidly scalable, low-cost satellite services, space-based solutions, and testing alternatives. More than just a “Satellite-as-a-Service” provider, Sidus Space is a trusted Mission Partner–from concept to Low Earth Orbit and beyond. Sidus is ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute ‘forward-looking statements’ within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words ‘anticipate,’ ‘believe,’ ‘continue,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘intend,’ ‘may,’ ‘plan,’ ‘potential,’ ‘predict,’ ‘project,’ ‘should,’ ‘target,’ ‘will,’ ‘would’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Sidus Space’s Annual Report on Form 10-K for the year ended December 31, 2021, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.