Latest news with #Sidus'
Yahoo
22-05-2025
- Business
- Yahoo
Sidus Space Launches Fortis™ VPX: A Ruggedized, AI-Powered 3U OpenVPX Module Supporting Complex Missions from Sea to Space
Modular computing system unlocks new market opportunities across space, defense, and maritime sectors CAPE CANAVERAL, Fla., May 22, 2025--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU), (the "Company" or "Sidus"), an innovative space and defense technology provider, today announced the launch of Fortis™ VPX, a ruggedized, modular, SOSA™ aligned computing system engineered for high-reliability command and data handling (C&DH), advanced artificial intelligence/machine learning (AI/ML) processing, and precision navigation in extreme environments. The Fortis™ line of products establishes a new cornerstone in Sidus' expanding portfolio of space-qualified and defense-grade technologies, designed to support the increasing demand for edge computing across commercial and government sectors. Fortis™ VPX provides the scalable digital backbone needed to accelerate mission development timelines, reduce integration complexity, and support software-defined operations. Leveraging an open architecture and industry-standard 3U VPX form factor, Fortis™ is built for rapid integration into a range of applications across maritime, land, space, and airborne domains. "Fortis™ VPX is a force multiplier for AI-driven mission systems," said Carol Craig, CEO of Sidus Space. "Its modularity, computing power, and SOSA™ aligned compatibility enables customers to quickly adapt to evolving mission requirements while reducing total lifecycle costs." Strategic Alignment & Market Relevance With integrated AI/ML processing, secure navigation, and robust C&DH capabilities, Fortis™ VPX is positioned at the intersection of defense modernization, commercial space infrastructure, and autonomous systems development. The systems' modularity and dual-use applicability support a broad spectrum of use cases across satellite constellations, tactical ground systems, unmanned aerial vehicles (UAV), and intelligence, surveillance, and reconnaissance (ISR) platforms. Alignment with the SOSA™ Technical Standard and Sidus' proprietary IP supports recurring revenue opportunities through both system sales and service-based contracts across defense, aerospace, maritime, and commercial end uses. Why Fortis™ VPX Is Like No Other Proven AI in Space Since 2023: Sidus Space leads the edge-computing revolution in orbit, with operational AI deployment in 2023, positioning Sidus as one of the earliest entrants with heritage in space-qualified AI/Edge platforms Capturing VPX Market Momentum: Fortis™ VPX targets the rapidly growing market and expanding requirements for autonomous, edge-deployed intelligence in defense and aerospace sectors Strategic Focus on Edge AI Capabilities: Engineered to enable autonomous, low-latency AI processing at the edge, Fortis™ VPX meets the surging demand for near real-time intelligence across multiple domains Smart, Software-Defined Payload Architecture: Fortis™ combines VPX single board computers (SBC) with FeatherEdge™ AI to enable dynamic, software-defined payloads capable of adapting to changing mission parameters across domains Multi-Domain, Modular Platform: Designed for seamless deployment across all operational domains: Air: Tactical UAV systems Sea: Underwater autonomous vehicles Land: ISR ground systems and mobile C2 nodes Space: Radiation-hardened VPX AI payloads Spaceflight Heritage: Our FeatherEdge™ AI system, now integrated with Fortis™, has achieved Technology Readiness with LizzieSat™-3, demonstrating full mission qualification in orbit Scalable, Agile Manufacturing: Sidus combines vertical integration with rapid manufacturing processes to deliver Fortis™ VPX at scale "The recent launch of China's first AI-focused satellite, part of a planned 2,800-satellite constellation, signals a global acceleration in edge AI computing," said Val Ojdanic, Chief Technology Officer at Sidus Space. "Fortis™ VPX is built to meet this demand with the scalability, ruggedization, and AI readiness required to power next-generation infrastructure across domains." About Sidus Space Sidus Space (NASDAQ: SIDU) is a space mission enabler providing flexible, cost-effective solutions, including satellite manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence, and commercial companies around the globe. Strategically headquartered on Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and provides easy access to nearby launch facilities. For more information, visit: 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, 2024, 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. View source version on Contacts Investor Relations investorrelations@ Media Inquiries press@ Sign in to access your portfolio
Business Wire
22-05-2025
- Business
- Business Wire
Sidus Space Launches Fortis™ VPX: A Ruggedized, AI-Powered 3U OpenVPX Module Supporting Complex Missions from Sea to Space
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU), (the 'Company' or 'Sidus'), an innovative space and defense technology provider, today announced the launch of Fortis™ VPX, a ruggedized, modular, SOSA™ aligned computing system engineered for high-reliability command and data handling (C&DH), advanced artificial intelligence/machine learning (AI/ML) processing, and precision navigation in extreme environments. The Fortis™ line of products establishes a new cornerstone in Sidus' expanding portfolio of space-qualified and defense-grade technologies, designed to support the increasing demand for edge computing across commercial and government sectors. Fortis™ VPX provides the scalable digital backbone needed to accelerate mission development timelines, reduce integration complexity, and support software-defined operations. Share Fortis™ VPX provides the scalable digital backbone needed to accelerate mission development timelines, reduce integration complexity, and support software-defined operations. Leveraging an open architecture and industry-standard 3U VPX form factor, Fortis™ is built for rapid integration into a range of applications across maritime, land, space, and airborne domains. 'Fortis™ VPX is a force multiplier for AI-driven mission systems,' said Carol Craig, CEO of Sidus Space. 'Its modularity, computing power, and SOSA™ aligned compatibility enables customers to quickly adapt to evolving mission requirements while reducing total lifecycle costs.' Strategic Alignment & Market Relevance With integrated AI/ML processing, secure navigation, and robust C&DH capabilities, Fortis™ VPX is positioned at the intersection of defense modernization, commercial space infrastructure, and autonomous systems development. The systems' modularity and dual-use applicability support a broad spectrum of use cases across satellite constellations, tactical ground systems, unmanned aerial vehicles (UAV), and intelligence, surveillance, and reconnaissance (ISR) platforms. Alignment with the SOSA™ Technical Standard and Sidus' proprietary IP supports recurring revenue opportunities through both system sales and service-based contracts across defense, aerospace, maritime, and commercial end uses. Why Fortis™ VPX Is Like No Other Proven AI in Space Since 2023: Sidus Space leads the edge-computing revolution in orbit, with operational AI deployment in 2023, positioning Sidus as one of the earliest entrants with heritage in space-qualified AI/Edge platforms Capturing VPX Market Momentum: Fortis™ VPX targets the rapidly growing market and expanding requirements for autonomous, edge-deployed intelligence in defense and aerospace sectors Strategic Focus on Edge AI Capabilities: Engineered to enable autonomous, low-latency AI processing at the edge, Fortis™ VPX meets the surging demand for near real-time intelligence across multiple domains Smart, Software-Defined Payload Architecture: Fortis™ combines VPX single board computers (SBC) with FeatherEdge™ AI to enable dynamic, software-defined payloads capable of adapting to changing mission parameters across domains Multi-Domain, Modular Platform: Designed for seamless deployment across all operational domains: Air: Tactical UAV systems Sea: Underwater autonomous vehicles Land: ISR ground systems and mobile C2 nodes Space: Radiation-hardened VPX AI payloads Spaceflight Heritage: Our FeatherEdge™ AI system, now integrated with Fortis™, has achieved Technology Readiness with LizzieSat™-3, demonstrating full mission qualification in orbit Scalable, Agile Manufacturing: Sidus combines vertical integration with rapid manufacturing processes to deliver Fortis™ VPX at scale 'The recent launch of China's first AI-focused satellite, part of a planned 2,800-satellite constellation, signals a global acceleration in edge AI computing,' said Val Ojdanic, Chief Technology Officer at Sidus Space. 'Fortis™ VPX is built to meet this demand with the scalability, ruggedization, and AI readiness required to power next-generation infrastructure across domains.' About Sidus Space Sidus Space (NASDAQ: SIDU) is a space mission enabler providing flexible, cost-effective solutions, including satellite manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence, and commercial companies around the globe. Strategically headquartered on Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and provides easy access to nearby launch facilities. For more information, visit: 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, 2024, 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.
Yahoo
31-03-2025
- Business
- Yahoo
Sidus Space Reports Full-Year 2024 Financial Results and Provides Business Updates
CAPE CANAVERAL, Fla., March 31, 2025--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU) (the "Company" or "Sidus"), an innovative, agile space mission enabler, announced its financial results for the fourth quarter and full-year ended December 31, 2024, and provided a business update. The Company is scheduled to host a conference call and webcast today, Monday, March 31, at 5:00 p.m. ET. "2024 was a defining year for Sidus - a year in which we validated our technology, expanded our constellation, grew our customer base, and secured key strategic contracts and partnerships that position us for growth and long-term success," said Carol Craig, Sidus Chairwoman and CEO. "In the past twelve months, Sidus has evolved from a space manufacturing and services company into a full-fledged space technology and AI company, focused on delivering mission-critical, AI-powered space data solutions with three LizzieSat satellites, designed and manufactured by Sidus, now in orbit." Sidus' LizzieSat®-3 ("LS-3"), launched in March of 2025, was designed, developed, manufactured and launched at a 45% lower cost than the cost of the initial satellite launched just over twelve months prior, demonstrating Sidus' ability to continue to achieve capital efficiency. In less than two hours from deployment of LS-3, communication and control of the spacecraft was established demonstrating the benefits of Sidus' rich space heritage and expertise. Highlights: Raised $37 million of funding Ended 2024 with a cash balance of $15.7 million positioning Sidus for growth and optimal servicing of space-related backlog and pipeline Selected to exclusively design and build the first-generation lunar fleet of Data Storage Spacecraft for Lonestar Data Holdings, including digital technology Launched LizzieSat® 1 and 2, followed by LizzieSat-3 in March 2025, completing three launches in just over one year Granted approval by FCC for operation of a micro constellation of remote sensing, multi-mission satellites in Low Earth Orbit (LEO) (LizzieSat®-2-5) Completed the critical design review for LizzieSat® NL, a laser communication satellite contracted by The Netherlands Organization Announced strategic partnership with Reflex Aerospace, a cutting-edge European satellite manufacturing startup, to deliver flexible, cost-effective, and high-performance solutions to meet diverse customer needs while strengthening the presence in global markets Implemented SAP for manufacturing in 2024 with full integration across the organization expected in 2025 Expanded our physical presence with the opening of a West Coast office in El Segundo, California, so Sidus is now located in close proximity to both Eastern and Western launch sites Subsequent Operational Highlights: Received FCC approval for space-to-space data relay capability for LizzieSat® platform, which enables the ability to provide rapid direct-to-user data transfer capability and significantly reduce data latency rapid-delivery data service. Capability will be incorporated into LizzieSat®-3 and future satellites Launched LizzieSat™-3 on March 15, 2025 and established communication and control of the spacecraft in less than 2 hours\ Announced next-generation on-orbit AI with the launch of the Sidus Orlaith™ AI ecosystem, an advanced space-rated AI processing system optimized for delivering high-performance, near real-time data analytics directly from space and is capable of 100 Trillion Operations per Second (TOPS) Improved capital efficiency paving the way for margin expansion and sustained profitability LizzieSat™-2 total cost 27% less than LizzieSat™-1 LizzieSat™-3 total cost 25% less than LizzieSat™-2 and 45% less than LizzieSat™-1 Each satellite included greater capabilities and improved performance over prior satellite Appointed Adarsh Parekh as New Chief Financial Officer (CFO) to spearhead strategic financial initiatives Financial Highlights for the Full Year Ending December 31, 2024: Total revenue for the twelve months ending December 31, 2024, was approximately $4.7 million, a decrease of $1.3 million or 22% compared to total revenue for the twelve months ended December 31, 2023. This decrease highlights Sidus' deliberate strategic shift from miscellaneous component manufacturing to higher-margin business lines of data, technology and satellite manufacturing for Sidus as well external customers. Cost of revenue increased 42% for the twelve months ended December 31, 2024, to approximately $6.1 million as compared to approximately $4.3 million for the twelve months ended December 31, 2023. The increase was primarily driven by higher depreciation costs associated with the first satellite asset deployed in March 2024, the mix of varying contracts with higher material and labor expenses, shifts in milestone payments for our higher margin satellite related business and continued increased supply chain-related costs. Although depreciation will continue to impact cost of revenue, it should be significantly offset as we grow our high-margin satellite and data-related revenue. Gross profit for the twelve months ended December 31, 2024, decreased 31% to a loss of approximately $1.5 million compared to a profit of approximately $1.6 million for the twelve months ended December 31, 2023. Gross profit margin was negative 31% for the full year 2024 as compared to 28% for the full year of 2023. The change was mainly driven by higher depreciation costs associated with our first satellite asset deployed in March 2024, our mix of varying contracts with higher material and labor expenses and shifts in milestone payments for our higher margin satellite related business. Selling, general, and administrative expenses for the twelve months ended December 31, 2024, totaled approximately $14.2 million, approximately in line with the same period in the prior year. Increases to consulting services for business development, mission control expenses, fundraising expenses and board related compensation were offset by reductions in D&O insurance expense, professional fees, R&D costs and investor/public relations expenses as a result of bringing more of these functions in house. Adjusted EBITDA loss, a non-GAAP measure, for the twelve months ended December 31, 2024, totaled $12.9 million as compared to an Adjusted EBITDA loss of $10.9 million for the same period the prior year, which represents a 19 percent reduction in our EBITDA. Total non-GAAP adjustments for interest expense, depreciation and amortization, acquisition deal costs, severance costs, capital markets and advisory fees, equity-based compensation and warrant costs are provided in the reconciliation table below. Net loss for the twelve months ended December 31, 2024, was $17.5 million, compared to a net loss of $14.3 million in the period of 2023. Balance Sheet: As of December 31, 2024, the Company had $15.7 million of cash as compared to $1.2 million on December 31, 2023, which represents an increase of $14.5 million. The increased cash balance puts Sidus in an excellent position to transition towards its core, higher-margin businesses of space manufacturing and space technology. Current assets increased by approximately $13.0 million, or 142%, to $22.3 million as of December 31, 2024, from approximately $9.2 million as of December 31, 2023. The increase is primarily attributable to our increased cash balance. Current liabilities increased by approximately $2.0 million, or 16%, to approximately $14.2 million as of December 31, 2024, from approximately $12.2 million as of December 31, 2023. The increase was attributable to an increase in the asset-based loan liability partially offset by a decrease in accounts payable and other current liabilities. Conference Call and Webcast Event: Sidus Space Fourth Quarter and Full-Year 2024 Financial Results Conference Call Date: Monday, March 31, 2025 Time: 5:00 p.m. Eastern Time Live Call: + 1-877-269-7751 (U.S. Toll-Free) or +1-201-389-0908 (International) Webcast: For interested individuals unable to join the conference call, a dial-in replay of the call will be available until Monday, April 15, 2025, at 11:59 P.M. ET and can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) and entering replay access ID: 13752638. An online archive of the webcast will be available for three months following the event at About Sidus Space Sidus Space (NASDAQ: SIDU) is a space mission enabler providing flexible, cost-effective solutions, including custom satellite design, payload hosting, mission management, AI-enhanced space-based sensor data-as-a-service and space manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence and commercial companies around the globe. Strategically headquartered on Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration and testing facility and provides easy access to nearby launch facilities. For more information, visit: For more information, visit: 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, 2023, 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. NON-GAAP MEASURES To provide investors with additional information in connection with our results as determined in accordance with GAAP, we use non-GAAP measures of adjusted EBITDA. We use adjusted EBITDA in order to evaluate our operating performance and make strategic decisions regarding future direction of the company since it provides a meaningful comparison to our peers using similar measures. We define adjusted EBITDA as net income (as determined by U.S. GAAP) adjusted for interest expense, depreciation and amortization expense, acquisition deal costs, severance costs, capital market and advisory fees, equity-based compensation and warrant costs. These non-GAAP measures may be different from non-GAAP measures made by other companies since not all companies will use the same measures. Therefore, these non-GAAP measures should not be considered in isolation or as a substitute for relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis. SUMMARY FINANCIAL RESULTS The following table provides certain selected financial information for the full year ended December 31, 2024 and 2023: Twelve Months Ended December 31, 2024 2023 Change % Revenue $ 4,672,646 $ 5,962,785 $ (1,290,139 ) (22 )% Cost of revenue 6,141,657 4,321,482 1,820,175 42 % Gross Profit (Loss) (1,469,011 ) 1,641,303 (3,110,314 ) (190 )% Gross Profit Percentage (31 )% 28 % Selling, general & administrative expense 14,249,870 14,166,617 83,253 1 % Other expense (1,805,175 ) (1,803,034 ) (2,141 ) 0 % Net loss $ (17,524,056 ) $ (14,328,348 ) $ (3,195,708 ) 22 % The following table reconciles adjusted EBITDA to net loss (the most comparable GAAP measure) for the full year ended December 31, 2024 and 2023: Twelve Months Ended December 31, 2024 2023 Change % Net Income / (Loss) $ (17,524,056 ) $ (14,328,348 ) $ (3,195,708 ) 22 % Interest Expense (i) 1,306,252 903,136 403,116 45 % Depreciation and Amortization (ii) 2,171,873 217,107 1,954,766 900 % Acquisition Deal Costs (iii) - 220,632 (220,632 ) -100 % Capital raise expense (iv) 805,322 927,875 (122,553 ) -13 % Warrant costs underwriter (v) - 917,848 (917,848 ) -100 % Severance Costs 22,201 147,222 (125,021 ) -85 % Equity based compensation (vi) 309,736 104,038 205,698 198 % Total Non-GAAP Adjustments 4,615,384 3,437,858 1,177,526 34 % Adjusted EBITDA (12,908,672 ) (10,890,490 ) (2,018,182 ) 19 % The following table provides selected financial data about Sidus' Liquidity and Capital Resources as of December 31, 2024, and December 31, 2023: December 31, December 31, 2024 2023 Change % Current assets $ 22,252,552 $ 9,202,310 $ 13,050,242 142 % Current liabilities $ 14,209,502 $ 12,219,356 $ 1,990,146 16 % Working capital (deficiency) $ 8,043,050 $ (3,017,046 ) $ 11,060,096 (367 )% View source version on Contacts Investor Relations investorrelations@ Media Inquiries press@ Sign in to access your portfolio
Yahoo
25-03-2025
- Business
- Yahoo
Sidus Space Expands Global Reach in Asia With Its Proprietary Sidus Orlaith™ AI Ecosystem
CAPE CANAVERAL, Fla., March 25, 2025--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU) (the "Company" or "Sidus"), an innovative, agile space mission enabler, today announced it has been awarded a new purchase order with a leading research and development organization in Asia. This agreement marks Sidus' entry into the region and showcases its cutting-edge space-based AI and edge computing capabilities through its Orlaith™ ecosystem, powered by the high-speed edge computer named FeatherEdge™. The initiative highlights Sidus' leadership in on-orbit computing and real-time data analytics. As part of this six-week research, design, and development effort, Sidus will modify the FeatherEdge™ Gen -2 platform to achieve 30 Gbps data transfer speeds between its customer's hardware and FeatherEdge™. By processing critical sensor data onboard and transmitting only essential information, FeatherEdge™ significantly reduces satellite data transmission costs while improving mission responsiveness and operational efficiency. Its versatile applications include situational awareness, autonomous satellite operations, cloud computing, and defense analytics. "Sidus Space is redefining data processing beyond Earth's surface," said Jim Larson, Senior Vice President of AI Strategic Initiatives at Sidus Space. "This purchase order emphasizes our dedication to advancing AI-driven edge computing in space, minimizing latency, and enabling near real-time decision-making. We look forward to expanding our global reach and applying our expertise to new partnerships." This opportunity further solidifies Sidus Space's position as a global leader in AI-powered space technology, driving growth in the government, defense, intelligence, and commercial space sectors worldwide. About Sidus Space Sidus Space (NASDAQ: SIDU) is a space mission enabler providing flexible, cost-effective solutions, including custom satellite design, payload hosting, mission management, AI-enhanced space-based sensor data-as-a-service and space manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence and commercial companies around the globe. Strategically headquartered on Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration and testing facility and provides easy access to nearby launch facilities. For more information, visit: 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, 2023, 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. View source version on Contacts Investor Relations investorrelations@ Media Inquiries press@
Broadcast Pro
19-03-2025
- Business
- Broadcast Pro
Sidus Space and Warpspace to launch JV for Optical Space Communication
Both companies will start joint venture activities immediately and work together to outline the next implementation steps. Sidus Space has signed a Memorandum of Understanding (MOU) with Warpspace, a Japanese space-tech company specialising in near real-time high-speed communication network services. The agreement establishes the framework to pursue a Joint Venture focused on delivering integrated solutions for next-generation satellite communications and mission operations. Carol Craig, Founder and CEO of Sidus Space, said: 'This alliance marks a significant milestone for Sidus Space as we work alongside Warpspace to advance space innovation in technology, AI and optical communication systems. By combining Sidus mission expertise with Warpspaces WarpHub InterSat, a secure, cutting-edge communication system, we are poised to expand our high-performance solutions to meet diverse customer mission needs, strengthening our presence in global markets.' Hirokazu Mori, CEO of Warpspace USA and Group Chief Strategy Officer at Warpspace, added: 'We are excited to collaborate with Sidus Space, whose innovative capabilities and mission expertise align with our vision for the future of space communications. Together, we plan to accelerate the deployment of next-generation optical communication technologies and provide unparalleled connectivity solutions that will enable faster, more secure and reliable communications in space.' Activities related to the Joint Venture are expected to begin immediately, with both companies working toward defining the next steps for implementation.
