SpaceAlpha Insights Enters Contract in Excess of US$4 Million
SpaceAlpha Insights Enters Contract in Excess of US$4 Million to Accelerate SAR-XL Missions and Data Services
The contract allows Alpha to further scale its engineering and expedite development of flight-ready hardware.
VANCOUVER, BC, March 10, 2021 | SpaceAlpha Insights, a developer of ground-breaking high-resolution, dual-band synthetic aperture radar (SAR) technology, today announced that it has entered into a contract valued at over US$4 million with a confidential customer for the delivery of SAR-XL technology. Funds will be used to complete the development of flight-ready spacecraft and scale the company’s engineering team as it prepares to deliver SAR-XL data for applications focused on the infrastructure, government, maritime, and environmental monitoring sectors.
Following a seed investment in February, this new contract demonstrates the rapid progress being made by the Company following its acquisition of the SAR-XL technology and engineering team in early 2021. With engineering models already complete and multiple customer contracts in place, the company intends to deliver its flight-ready SAR-XL hardware in mid-2022.
“We are incredibly grateful to our new customer and the entire team during this very exciting time,” explains Scott Larson, Co-founder and CEO, Alpha Insights. “This relationship demonstrates the market’s interest and confidence in our SAR-XL technology, strategy, and mission to deliver a world of untapped data and insight. More than $65 million has been invested in SAR-XL to date, and this new contract is another testament to the engineering milestones that the team keeps achieving.”
Existing SAR market opportunities are extensive, and many have yet to be realized due to technological constraints. Alpha Insights’ dual-band SAR-XL technology fills market gaps and expands application capabilities by providing simultaneous wide-area coverage in L-band and ultra-high-resolution imagery of 0.5 meters in X-band. Combined with on-board AI, this high-quality data allows for real-time object detection, identification, and analysis — unmatched capabilities in the current market.
About Alpha Insights
Alpha (SpaceAlpha Insights Corp.) is a developer of ground-breaking high-resolution, dual-band synthetic aperture radar (SAR). Through broad coverage and real-time data analysis, our pioneering technology and analytics platform will provide unprecedented data and analysis using X and L bands together with real-time onboard processing. Intelligence will be delivered instantly for nearly limitless applications related to agriculture, environmental study, security, military, insurance, infrastructure, logistics, market analysis, and more. To learn more, visit alphainsights.space.
SOURCE SpaceAlpha Insights Corp.