CAMBRIDGE, ON, Jan. 16, 2017 /CNW/ - exactEarth Ltd. (TSX: XCT), the leading provider of Satellite AIS data services, announced the successful launch of four hosted payloads for its next generation constellation, exactView™ RT powered by Harris. Launched aboard an Iridium NEXT satellite on SpaceX's Falcon 9 rocket from Vandenberg Air Force Base in California, these hosted maritime payloads are now being commissioned and are expected to be brought into service within the next four months. The exactView RT system is the result of the agreement signed with Harris Corporation in June 2015 under which Harris deploys and operates the hosted payloads and exactEarth performs the ground-based data processing and has exclusive distribution rights for the data for all markets except the US Government.
exactView RT will offer for the first time a continuous, global real-time ship tracking capability, providing an unprecedented view of the world's maritime domain to exactEarth customers. Designed to provide significant improvements to current and future customers, the RT satellites will deliver best-in-class vessel detection rates as well as instantaneous downlinking of AIS information. This will enable average global revisit rates of under one minute with the Company's customers receiving data in real time. exactView RT will consist of more than 60 payloads (including in-orbit spares) aboard the Iridium NEXT constellation, which is scheduled for completion in 2018.
"These launches will enhance our service level and open-up the potential for new revenue streams from a broader range of market applications," said Peter Mabson, CEO of exactEarth. "As the various satellites become operational, it will mark the beginning of our move towards a continuous real-time global vessel-tracking service capability. As a result, these initial launches represent a major milestone on this path under our alliance with Harris, which we believe will be one of the Company's key long-term growth drivers."
About exactEarth Ltd.
exactEarth is a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions. Since its establishment in 2009, exactEarth has pioneered a powerful new method of maritime surveillance called Satellite-AIS ("S-AIS") and has delivered to its clients a view of maritime behaviours across all regions of the world's oceans unrestricted by terrestrial limitations. exactEarth has deployed an operational data processing supply chain involving a constellation of satellites, receiving ground stations, patented decoding algorithms and advanced "big data" processing and distribution facilities. This ground-breaking system provides a comprehensive picture of the location of AIS equipped maritime vessels throughout the world and allows exactEarth to deliver data and information services characterized by high performance, reliability, security and simplicity to large international markets. For more information, visit exactearth.com.
This news release contains statements that, to the extent they are not recitations of historical fact, may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements may include financial and other projections, as well as statements regarding exactEarth's future plans, objectives or economic performance, or the assumptions underlying any of the foregoing, including statements regarding, among other things, the intentions of the parties, the use of any intellectual property, further investments that may be made by exactEarth and new markets that may be exploited by either party. exactEarth uses words such as "may", "would", "could", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by exactEarth in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors exactEarth believes are appropriate under the relevant circumstances. However, whether actual results and developments will conform to exactEarth's expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause exactEarth's actual results, historical financial statements, or future events to differ materially from those expressed or implied by the forward-looking statements contained in this news release. These factors include, without limitation: uncertainty in the global economic environment; fluctuations in currency exchange rates; delays in the purchasing decisions of exactEarth's customers; the competition exactEarth faces in its industry and/or marketplace; the further delayed launch of satellites; the reduced scope of significant existing contracts and the possibility of technical, logistical or planning issues in connection with the deployment of exactEarth's products or services.
SOURCE exactEarth Ltd.