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Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

AAC Clyde Space closes £8.4m Space Data as a Service contract with Wyvern

June 30, 2021 GMT

UPPSALA, Sweden, June 30, 2021 /PRNewswire/ -- AAC Clyde Space, a leading New Space company, has entered into a £8.4m (approx. SEK 100m) contract to deliver high-resolution, multi-band, hyperspectral data from space to Canadian Earth observation company Wyvern Inc. over an initial four-year period, with an intended start mid-2022.

Under the agreement, AAC Clyde Space will design, manufacture, and own three 6U EPIC satellites equipped with hyperspectral payloads, while Wyvern Inc. commits to subscribe to the data service for four years. After the first four years, the contract can be extended on an annual basis. The first satellite is planned for launch during first half year 2022, followed by two satellites planned for launch during the second half year 2022.

“We are delighted that Wyvern, a specialist in Earth observation, has opted for the Space Data as a Service model to capture data. It will enable them to focus on delivering high quality services to their customers, while leaving to us to do what we do best – design, manufacture and operate spacecrafts,” says AAC Clyde Space CEO Luis Gomes. “This contract is our largest Space Data as a Service contract to date. I foresee many more to come, both larger and smaller, as businesses discover this cost efficient and convenient way to access data from space-based assets.”

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The satellites will deliver hyperspectral data, a method for capturing images of Earth across multiple bands, providing much more information than the three main colour bands that the human eye captures. Wyvern will first offer the data to the agriculture sector where it will help optimize yields, and detect invasive plants, pests and changes in soil makeup.

Wyvern’s CEO Chris Robson says “Wyvern aims to deliver Earth observation data in the hyperspectral bands to new customers at greater value. Working with AAC Clyde Space is a first step in securing the market while we develop optical technology that will continue to revolutionise space-based data for a variety of sectors.”

In March 2021, AAC Clyde Space announced it had agreed with Wyvern to secure the launch of three satellites into orbit in 2022 for this purpose.

FOR MORE INFORMATION:
Please visit: www.aac-clyde.space

For more information about Wyvern Inc.: www.wyvern.space

The information in this press release is such that AAC Clyde Space AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 17:45 CEST on 30 June 2021.

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ABOUT AAC CLYDE SPACE
AAC Clyde Space specialises in small satellite technologies and services that enable businesses, governments and educational organisations to access high-quality, timely data from space. Its growing capabilities bring together three divisions:

Space Data as a Service – delivering data from space directly to customers
Space missions – turnkey solutions that empower customers to streamline their space missions
Space products and components – a full range of off-the-shelf and tailor-made subsystems, components and sensors

AAC Clyde Space aims to become a world leader in commercial small satellites and services from space, applying advances in its technology to tackle global challenges and improve our life on Earth.

The Group’s main operations are located in Sweden, the United Kingdom, the Netherlands and the USA, with partner networks in Japan and South Korea.

AAC Clyde Space’s shares are traded on Nasdaq First North Premier Growth Market. Erik Penser Bank AB, e-mail certifiedadviser@penser.se, telephone +46 8 463 83 00, is the Certified Adviser. The share is also traded on the US OTCQX-market under the symbol ACCMF.

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SOURCE AAC Clyde Space