Vancouver, December 5, 2017 - UrtheCast Corp. (TSX:UR) ("UrtheCast" or the "Company"), and Twenty First Century Aerospace Technology Co. Ltd (“21AT”), China’s largest independent commercial satellite operator and non-governmental investor in remote sensing satellite systems, today announced a long-term strategic partnership to acquire geospatial data from the UrtheDailyTM Constellation, UrtheCast's planned constellation of Earth observation satellites which will deliver daily, medium resolution imagery of the entire planet's landmass, excluding Antarctica.
By entering into this agreement, 21AT becomes a key anchor partner for the UrtheDailyTM Constellation and UrtheCast’s strategic partner for UrtheDailyTM Constellation data within the large Chinese market. 21AT, already one of the world's leading providers of satellite imagery and services, will use the data to build an applications service platform to improve the decision-making services for users across China and beyond.
"With several years of experience in the industry, 21AT views this flow of data as a highly innovative technical and commercial differentiator for Earth Observation. Delivering daily coverage of the Earth as geo-analytic ready imagery, directly into the hands of our users, will be a great asset to significantly grow applications," says Mr Wang, 21AT’s Vice President. “International cooperation has always been a very important part of our success and the UrtheDailyTM Constellation is one of the best solutions we have seen clearly designed to meet our future growth strategy and application demands in China. This will significantly increase the value of decision support tools made available to our customers. As a result, we are committed to this deep partnership with UrtheCast.”
“This commitment in UrtheDailyTM from 21AT is a major endorsement for our best-in-class Constellation from a recognized leader in the Earth observation industry,” stated UrtheCast’s President and CEO, Wade Larson. “We are dedicated to ensure the success of our strategic partnership with 21AT together benefiting from the huge market potential in China and across the globe. With our UrtheDailyTM financing package expected to close by year end, we are more confident than ever in UrtheCast’s ability to become the pre-eminent provider for the next generation of Earth observation data and analytics services.”
The Agreement is subject to UrtheCast arranging its financing for the build and launch of the UrtheDailyTM Constellation, and other customary conditions for agreements of this nature.
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