Sidus Space Reflects on a Transformative 2024 and Prepares for Continued Growth in 2025

Business Wire2024-12-30

Major milestones, successful launches and expanding on-orbit capabilities highlight a successful year for the innovative space mission enabler CAPE CANAVERAL, Fla., December 30, 2024--(BUSINESS WIRE)...

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CAPE CANAVERAL, Fla., December 30, 2024----Sidus Space , an innovative and agile space mission enabler, today announced a year of significant achievements in 2024, marking a period of transformative growth and strategic milestones. With key launches, groundbreaking partnerships and expanding customer relationships, we believe Sidus is well-positioned to continue delivering innovative solutions and scalable data services in 2025.Successfully launched LizzieSat-1 in March and LizzieSat-2 in December, establishing Sidus’ micro-constellation for hosted payloads and delivering near real-time solutions for our customers’ mission critical needs.Selected to exclusively design and build the first-generation lunar fleet of Data Storage Spacecraft for Lonestar Data Holdings, a provider of premium data storage and Resiliency-as-a-Service , which reinforces","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4187":"航天航空与国防","SIDU":"Sidus Space Inc.","LEO":"LEO市政债券基金"},"translate_title":"Sidus Space反思变革性的2024年，并为2025年的持续增长做好准备","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LEO":1,"SIDU":0.9},"content_text":"Major milestones, successful launches and expanding on-orbit capabilities highlight a successful year for the innovative space mission enabler\nCAPE CANAVERAL, Fla., December 30, 2024--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU), an innovative and agile space mission enabler, today announced a year of significant achievements in 2024, marking a period of transformative growth and strategic milestones. With key launches, groundbreaking partnerships and expanding customer relationships, we believe Sidus is well-positioned to continue delivering innovative solutions and scalable data services in 2025.\nKey Highlights from 2024:\n\nSuccessfully launched LizzieSat™-1 in March and LizzieSat™-2 in December, establishing Sidus’ micro-constellation for hosted payloads and delivering near real-time solutions for our customers’ mission critical needs.\nSelected to exclusively design and build the first-generation lunar fleet of Data Storage Spacecraft for Lonestar Data Holdings, a provider of premium data storage and Resiliency-as-a-Service (RAAS), which reinforces the adaptability of the LizzieSat™ platform.\nObtained FCC approval to operate a micro constellation of remote sensing, multi-mission satellites in Low Earth Orbit (LEO) (LizzieSat™2-5), positioning the company for continued growth.\n\nIn addition, Sidus made significant progress on its strategic initiatives including growing its customer base, expanding key partnerships, delivering performance excellence, driving innovation and strengthening its capital position, board and leadership team.\nGrowing Customer Base Across Multiple Business Areas\n\nIntegrated HEO Holmes Imager aboard LizzieSat™-2 and secured follow-on agreement for payload hosting and data services for LizzieSat™-3.\nSecured contract with Xiomas Technologies to supply FeatherEdge™ computing system for fire detection via high-altitude infrared imaging.\nAwarded $2 million contract from Craig Technologies to manufacture two fleet interactive display equipment (FIDE) pre-production unit main panels for U.S. Navy Propulsion systems.\nAwarded subcontract on the $30M Intuitive Machines-led Moon RACER team for the NASA Lunar Terrain Vehicle Services (LTVS) contract in support of the Agency’s Artemis Campaign.\n\nExpanding Key Partnerships\n\nSigned an MOU with NamaSys Bahrain to establish \"Sidus Arabia,\" a Joint Venture headquartered in Saudi Arabia, to develop a satellite manufacturing facility and pursue joint initiatives.\nEnhanced Sidus’ sales reach by executing a partnership agreement with Orbital Transports for global market expansion.\nExtended partnership as protégé with L3Harris under Department of Defense Mentor-Protégé Program.\nSigned agreement with Neuraspace to provide space traffic management and LEOP (Launch and Early Operations) support services, enhancing Sidus’ constellation operation capabilities.\nAnnounced 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.\n\nDelivering Performance Excellence\n\nSuccessfully achieved the primary objectives of the Autonomous Satellite Technology for Resilient Application (ASTRA) historic in-space payload mission with NASA Stennis Space Center and secured follow-on contract for additional ASTRA support.\nCapitalizing on LizzieSat™-1 on-orbit processing capabilities, successfully demonstrated an AI enhanced, thermal sensing, firefighting software solution\nCompleted the critical design review for LizzieSat™ NL, a laser communication satellite contracted by The Netherlands Organization.\nDemonstrated manufacturing excellence by producing and delivering thousands of unique parts to 14 customers across commercial, government and defense sectors, reinforcing Sidus’ role as a trusted provider of mission-critical hardware.\n\nDriving Innovation\n\nSuccessfully demonstrated FeatherEdge™ AI solution on LizzieSat™-1, showcasing the ability to process large sets of raw data directly on orbit, delivering only relevant information to end users. This achievement significantly reduces downlink costs and enhances response times critical to customer applications.\nAnnounced upgrade to LizzieSat™ communication system to integrate Iridium-enabled technology into future satellites.\nStrengthened intellectual property portfolio with the approval of new patents and the publication of a patent application protecting enhanced functionality of the LizzieSat™ Modular Satellite Platform System. Sidus now holds 11 granted patents and 10 pending applications.\nDeveloped the Sidus low voltage differential signaling (LVDS) switch card, which extends the capabilities of the payload processor, enabling communication with multiple optical sensors through high speed LVDS data connections.\n\nStrengthening Capital Position\n\nSecured $37 million in funding in the last 12 months.\n\nLooking Ahead to 2025\nBuilding on the momentum achieved in 2024, Sidus is strategically positioned to expand its customer base while consistently delivering excellence in performance and fostering innovation.\nSidus is set to launch LizzieSat™-3 no earlier than Q1 2025, a move that will significantly enhance the company's data capabilities and support a variety of applications across government, defense, intelligence and commercial sectors. Furthermore, the company expects to continue rolling out new products, including a VPX On-Board Computer (OBC), leveraging its manufacturing and technology expertise to address critical space supply chain challenges. These initiatives will further Sidus’ mission of Space Access Reimagined™, providing flexible and cost-effective solutions to an expanding global customer base.\n\"Our accomplishments in 2024 represent the foundation of a bright future for Sidus Space,\" said Carol Craig, CEO of Sidus. \"We’ve demonstrated the adaptability and scalability of our solutions, expanded our constellation and strengthened key partnerships. As we transition into 2025, we remain committed to pushing the boundaries of what’s possible in space while delivering innovative, real-time data services to our customers.\"\nAbout Sidus Space\nSidus Space (NASDAQ: SIDU) is a space mission enabler providing flexible, cost-effective solutions including custom satellite design, payload hosting, mission management, space manufacturing, and AI-enhanced space-based sensor data-as-a-service. 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: www.sidusspace.com.\nForward-Looking Statements\nStatements 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.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241230141242/en/\nContacts\nSidus Investor Relations investorrelations@sidusspace.com\nSidus Media Inquiries press@sidusspace.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2495542684"}