Completes exactEarth's First Generation Satellite AIS Constellation
CAMBRIDGE, ON, February 22, 2018 /CNW/ - exactEarth Ltd. (“exactEarth” or the “Company”) (TSX: XCT), a leading provider of Satellite AIS data services, announced today the successful launch of an advanced Automatic Identification System (AIS) payload, exactView-8 (EV-8), aboard the Spanish radar satellite, Paz. The satellite was launched from the Vandenberg Air Base in California, using the SpaceX Falcon 9 rocket, and is owned and operated by Hisdesat Servicios Estrategicos S.A. The hosted AIS payload is owned by exactEarth and is expected to be commissioned in the coming months.
The high-performance EV-8 payload is part of exactEarth’s first-generation constellation and is the first commercial AIS payload which has been launched on a radar satellite. The Paz satellite was launched into the dawn-dusk sun synchronous orbit that is occupied by most of the world’s radar satellites and will be uniquely positioned to provide high quality AIS vessel data which is fully time synchronous with the Paz radar and near synchronous with Synthetic Aperture Radar(SAR) imagery from other radar satellites. The fusion of these two data sets for enhanced vessel identification is expected to be an important element of future maritime surveillance capabilities as authorities can now rapidly correlate two data sources to identify non-reporting or non-cooperative vessels.
“We congratulate Hisdesat on the successful launch of Paz. The launch of our EV-8 AIS payload is a major milestone for our team here at exactEarth as we mark the completion of our first-generation constellation,” said exactEarth CEO Peter Mabson. “The unique capabilities of this AIS payload to enable high quality radar/AIS data fusion are expected to further advance our reputation as leaders in the AIS industry. When combined with the ongoing roll-out of our second-generation real-time satellite constellation, our AIS service offering clearly provides important differentiation and compelling value to a host of global AIS users.”
Forward-Looking StatementsThis news release contains statements that, to the extent they are not recitations of historical fact, may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements may include financial and other projections, as well as statements regarding exactEarth's future plans, objectives or economic performance, or the assumptions underlying any of the foregoing, including statements regarding, among other things, the timing of the roll-out and in-service dates of the second-generation constellation, and the future impact of the loss of the EV5 satellite. exactEarth uses words such as "may", "would", "could", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by exactEarth in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors exactEarth believes are appropriate under the relevant circumstances. However, whether actual results and developments will conform to exactEarth's expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause exactEarth's actual results, historical financial statements, or future events to differ materially from those expressed or implied by the forward-looking statements contained in this news release. These factors include, without limitation: uncertainty in the global economic environment; fluctuations in currency exchange rates; delays in the purchasing decisions of exactEarth's customers; the competition exactEarth faces in its industry and/or marketplace; the further delayed launch of satellites; the reduced scope of significant existing contracts and the possibility of technical, logistical or planning issues in connection with the deployment of exactEarth's products or services.