VANCOUVER, July 16, 2014 /CNW/ - UrtheCast Corp. (TSX:UR) ("UrtheCast"
or "the Company") is very pleased to announce that pursuant to its
agreement with NanoRacks, LLC it plans to dramatically expand its Earth
Observation data stream by operating state-of-the-art sensors on the
NASA segment of the International Space Station (ISS).
The installation of the sensors further enhances UrtheCast's market
leadership for Space Station-based Earth Observation (EO). The Company
intends to develop and supply the EO sensors, electronics and all
related hardware. NanoRacks, working with the U.S. National Lab manager
CASIS, will facilitate the launch, installation and onboard integration
of the cameras and hardware in accordance with its Space Act Agreement
UrtheCast intends to develop two Sensors, a high resolution dual-mode
optical/video camera and a high resolution dual-band Synthetic Aperture
Radar (SAR), which will complement its current sensors aboard the ISS.
The co-location of these sensors will allow for new EO products that
are not currently available to the market. The sensors and their
components are scheduled to launch to the ISS in 2016, and it is
anticipated that the data will be available in 2017.
"This is certainly a significant advancement of UrtheCast's business
plan," explained UrtheCast CEO, Scott Larson. "Having additional
sensors on the International Space Station not only mitigates our
technology risk, but also adds to our current suite of cameras aboard
the Station, improving upon the quality and quantity of data that we
can offer our customers — for everything ranging from scientific
research to resource monitoring." Added Larson, "this initiative
reflects our belief in the International Space Station as an ideal
platform for Earth Observation."
"It was envisioned that the National Lab would increase the utilization
of the ISS by other Federal entities and the private sector through
partnerships, cost-sharing agreements, and other arrangements that
would supplement NASA funding of the ISS. Being both educational and
scientifically focused, these sensors will help augment NASA's efforts
to more fully utilize the International Space Station as a National
Lab, while enabling more private sector participation. We're looking
forward to working with both NanoRacks and UrtheCast as we see this
project through to completion," stated Michael Read, NASA manager of
the ISS National Lab Office.
About UrtheCast Corp.
UrtheCast Corp. is a Vancouver-based technology company that is
developing the world's first Ultra HD video feed of Earth, streamed
from space in full color. Working with renowned aerospace partners from
across the globe, UrtheCast has built, launched, installed, and will
soon operate two cameras on the Russian segment of the ISS. Video and
still image data captured by the cameras will be downlinked to ground
stations across the planet and displayed on the UrtheCast web platform,
or distributed directly to exclusive partners and customers.
UrtheCast's cameras will provide Ultra HD video and still imagery of
Earth that will allow for monitoring of the environment, humanitarian
relief, social events, agricultural land, etc. Common shares of
UrtheCast trade on the Toronto Stock Exchange as ticker 'UR'. For more
information visit our website at urthecast.com.
About NanoRacks, LLC
NanoRacks LLC was formed in 2009 to provide commercial hardware and
services for the U.S. National Laboratory onboard the International
Space Station via a Space Act Agreement with NASA. The Company is
unique in owning and marketing its own family of research equipment,
both inside and external to the Space Station and providing low-cost,
high quality services to the Station customer. To date over 200
payloads have been deployed by the Company on Space Station and the
current signed customer pipeline of over 150 payloads, including those
from DLR, NASA, US Government Agencies, Planet Labs, Space Florida,
NCESSE, pharmaceutical drug companies, and organizations in Vietnam,
UK, Romania and Israel, has propelled NanoRacks into a leadership
position in understanding the emerging commercial market for low-earth
orbit utilization. For more information visit nanoracks.com and follow @nanoracks on Twitter.
Forward Looking Information
This release contains certain information which, as presented,
constitutes "forward-looking information" within the meaning of
applicable Canadian securities laws. Forward-looking information
involves statements that an action or event "will" be taken or occur
(or similar language) and includes statements about the plans to supply
and operate sensor and camera components on the ISS, expected launch
and commissioning timeframes, proposed image and video product
offerings and expected partners and customers to distribute such
products. Forward-looking statements are subject to various known and
unknown risks, many of which are beyond the ability of UrtheCast to
control or predict, and which may cause UrtheCast's actual results to
be materially different from those expressed or implied thereby,
including, but not limited to, inability to access capital to finance
planned projects, delays caused by third party manufacturers or
partners, damage which may occur to the sensors or cameras during
launch or installation, unexpected changes in Russian, Canadian or
United States government policies as well as those factors discussed in
the Company's annual information form dated March 26, 2014, (the "AIF")
and the Company's short form base shelf prospectus dated April 7, 2014
(the "Prospectus") which are available under UrtheCast's SEDAR profile
at www.sedar.com. Forward-looking information is developed based on assumptions about
such risks, uncertainties and other factors set out herein, in the AIF
and Prospectus, and as otherwise disclosed from time to time on
UrtheCast's SEDAR profile. UrtheCast undertakes no obligation to update
forward-looking statements except as may be required by applicable
Canadian securities laws. Readers are cautioned against attributing
undue certainty to forward-looking statements.
SOURCE UrtheCast Corp.