- The strategic joint venture addresses the growing demand for SAR satellite imagery and will strengthen Space42 and ICEYE's customer offerings
- Builds upon Space42 and ICEYE's successful collaboration for the production of the first batch of UAE-made Foresight constellation satellites
- The JV will act as a vehicle for technology transfer, sovereign & sustainable access to capabilities, and localizing the supply chain
Abu Dhabi, UAE, 9 December 2024 Space42 (ADX: SPACE42), a UAE-based AI-powered SpaceTech company with a global reach, and ICEYE, a global leader in Synthetic Aperture Radar (SAR) satellite operations for high-fidelity Earth Observation, today announced the creation of a joint venture to manufacture SAR satellites in the UAE, building on their successful cooperation, which includes the recent launch of the UAEs first SAR satellite, Foresight-1, in August 2024.
Focused on satellite manufacturing and deploying SAR satellite missions, this joint venture will directly advance the UAE's Earth Observation (EO) Program, which was created to build national satellite remote sensing and EO capabilities. The joint venture aims to address the growing demand for high-resolution imagery and data from SAR satellites, which can be applied across various use cases.
Space42's new Assembly, Integration, and Testing (AIT) and LEO mission operations facilities in Abu Dhabi will be home to a local SAR ecosystem, hosting the joint venture's manufacturing operations and Space42's constellation operation services. This joint partnership also serves as a platform for technology transfer and knowledge sharing that will ultimately propel the national R&D efforts for future sovereign SAR payloads. The joint venture strengthens ICEYE's local footprint to support UAE's growing need for SAR and Earth Observation capabilities.
Hasan Al Hosani, CEO of Bayanat Smart Solutions, Space42, said: The joint venture is a continuation of our ongoing strategic partnership with ICEYE to advance Earth Observation capabilities. It will directly support Space42's commitment to unlocking the full potential of space and ground systems capabilities, ultimately adding customer value through AI-enabled solutions. It also supports the UAE's space ambitions by bringing SAR manufacturing to the region, positioning the nation at the forefront of advancing space technology globally.
This partnership will enrich the UAE's industrial ecosystem by localizing the supply chain and sourcing components and services from existing industrial players in the UAE and build a strong local body of knowledge for the UAE in SAR with the participation of Emirati talent. It will also support Emiratization efforts, providing opportunities for national talent to drive innovation and contribute to economic growth and national prosperity.
Rafal Modrzewski, CEO and Co-founder of ICEYE said: This joint venture is expected to bring efficiency in deploying, managing and operating SAR constellations as Space42 and ICEYE join forces to address the market in a coordinated approach. We are proud to see our satellite production line extended to manufacture the state-of-the-art SAR technologies in the UAE through our partnership with Space42, enhancing the global reach and positive impact of ICEYE's technology. We are excited to grow ICEYE's local footprint and look forward to accelerating the UAE space program and the local space and SAR capabilities by harnessing the most of both companies' expertise for the benefit of the people of the UAE.
This joint venture is the latest in several strategic partnerships that capitalize on Space42 and ICEYE's complementary capabilities. The most recent was the successful launch of the UAE's first SAR satellite, Foresight-1, in August 2024. Foresight-1 was launched as part of the UAE's comprehensive SAR constellation, which will continue to grow over the next three years.
Middle East Stories
17/12/2024
Abu Dhabi, UAE, 17 December 2024: Space42 (ADX: SPACE42), the UAE-based AI-power...
10/12/2024
Abu Dhabi, UAE - 10 December 2024 Space42's Thuraya 4 telecommunications satellite, built by Airbus, has reached its destination at the Kennedy Space Cent...
09/12/2024
- The strategic joint venture addresses the growing demand for SAR satellite ima...
21/11/2024
Construction is underway at First Westlake Logistics Park
Construction on First Gulfs latest industrial development First Westlake Logistics Park in Ja...
19/11/2024
The appointment reflects Space42s commitment to building a dynamic market enviro...
11/11/2024
Space42 and the Ministry of Education launch SpaceTech educational campaign for ...
30/10/2024
The launch follows the successful implementation on 27 oil wells using an oil an...
28/10/2024
The multi-design, state-of-the-art Space42 Arena in Al Raha Beach, Abu Dhabi w...
15/10/2024
Dubai, 15 October, 2024 : Space42 and nybl unveil revolutionary AI solution to ...
01/10/2024
Space42 is a new, UAE-based AI-powered SpaceTech company with a global reach, in...
05/09/2024
In a milestone for Bronte Station Business Park, Element Materials Technology, a global leader in materials and product qualification testing, inspection, and ...
30/07/2024
Resilient first half performance with stable Normalised EBITDA and net income
Revenue, profitability and cash flow guidance reiterated for the full year
Abu D...
18/07/2024
Yahsat accelerates efforts to expand in Zimbabwe following agreement with Satcom...
10/06/2024
- Fully flexible, software-defined payloads will allow in-orbit reconfiguration of coverage area, capacity and communication frequencies
- Full programme cost...
29/05/2024
Marrakech, Morrocco, 29 May, 2024 : Marrakech, Morrocco, 29 May 2024: Al Yah Sa...
24/05/2024
The certification underscores world-class standards of services at Yahsat's Abu Dhabi Teleport
Abu Dhabi, United Arab Emirates, 21 May 2024: Al Yah Satelli...
22/05/2024
EUTELSAT KONNECT satellite will enhance Yahsat's satellite network with mult...
15/05/2024
Abu Dhabi, 15 May, 2024 : IP NEO is a Thuraya 4-ready lightweight portable sate...
15/05/2024
Abu Dhabi, 15 May, 2024 : IP NEO is a Thuraya 4-ready lightweight portable sate...
14/05/2024
Highest ever Q1 revenue with Normalised EBITDA growth of 7%
Profitability, cash flow and capital expenditure guidance reiterated
Abu Dhabi, United Arab Emirat...
10/05/2024
Abu Dhabi, 10 May 2024: Further to our previous communications about the unexpec...
10/05/2024
Abu Dhabi, 10 May, 2024 : Abu Dhabi, 10 May 2024: Further to our previous commu...
09/05/2024
The visit discussed potential for Yahsat to expand its presence in South Africa ...
25/04/2024
Bayanat AI PLC (ADX: BAYANAT), a leading AI-powered geospatial solutions provider, and Al Yah Satellite Communications Company P.J.S.C. (ADX: YAHSAT), the UAE&#...
23/04/2024
The merger will provide vertical integration potential and enhanced product offerings to capture regional and international opportunities for revenue growth and...
23/04/2024
Abu Dhabi, 23 April, 2024 : Partnership delivers greater cybersecurity to Thura...
02/04/2024
Abu Dhabi, 02 April, 2024 : Abu Dhabi, United Arab Emirates, 2 April 2024: Thur...
01/04/2024
Mr. Somani will oversee the development and implementation of the company's growth strategy and spearhead global strategic partnerships
Abu Dhabi, United A...
21/03/2024
- A circular was issued today setting both entities' General Assembly Meetin...
21/03/2024
- A circular was issued today setting both entities' General Assembly Meetin...
18/03/2024
Abu Dhabi, 18 March, 2024 : Abu Dhabi, 18 March 2024: Thuraya Telecommunication...
18/03/2024
Abu Dhabi, 18 March, 2024 : Abu Dhabi, 18 March 2024: Thuraya Telecommunication...
22/02/2024
Abu Dhabi , 22 February, 2024 : The first universal Direct-to-Device (D2D) Android smartphone with satellite voice and SMS capability
Abu Dhabi, 22 February 2...
22/02/2024
Abu Dhabi , 22 February, 2024 : The first universal Direct-to-Device (D2D) Andr...
21/02/2024
The industry disruptive strategy is primed to transform the lives of billions of...
20/12/2023
Abu Dhabi, 20 December 2023: Further to the announcements made by Bayanat AI PLC...
20/12/2023
Abu Dhabi, 20 December 2023: Further to the announcements made by Bayanat AI PLC...
19/12/2023
The combination will bring together complementary capabilities to create a UAE-b...
27/11/2023
Yahsat's next-generation climate tech solutions to support efforts to mitiga...
21/11/2023
Asmira video compression technology delivers advanced capabilities to end users ...
21/11/2023
Abu Dhabi, 21 November, 2023 : Abu Dhabi, UAE, 20 November 2023: Thuraya Teleco...
21/11/2023
Abu Dhabi, 21 November, 2023 : Abu Dhabi, UAE, 20 November 2023: Thuraya Teleco...
16/11/2023
Yahsat's reliable and secure connectivity solutions to be installed on EDGE&...
15/11/2023
Dubai, 15 November, 2023: Bayanat (a leading provider of AI-powered geospatial s...
07/11/2023
Third quarter revenues grew 8% versus prior year, second highest on record
Nine-month revenues and Normalised EBITDA increased 3% underpinned by double digit g...
30/10/2023
The United Nations Global Compact (UNGC) is the world's largest corporate su...
26/10/2023
Abu Dhabi, 26 October, 2023 : New partnership highlights Thuraya's continui...
23/10/2023
Service partnership agreement covers vital sectors including government, telemed...
- The strategic joint venture addresses the growing demand for SAR satellite imagery and will strengthen Space42 and ICEYE's customer offerings
