Maris-Tech Ltd. (Nasdaq: MTEK) (“Maris-Tech” or the “Company”), a
B2B provider of edge AI accelerated video solutions for edge
platforms, and Sidus Space, Inc. (NASDAQ: SIDU) (“Sidus Space”) a
multi-faceted Space and Defense-as-a-Service satellite company,
announced an agreement to collaborate on developing a system for
peripheral photography, recording, transmission, and artificial
intelligence for nanosatellites and space tools.
“The collection and transmission of high-quality video and still
images is a key component of our emerging, high-margin,
data-as-a-service, recurring revenue streams. With the launch
of LizzieSat set for the fourth quarter of this year, we are
thrilled to work with Maris-Tech to develop an innovative, AI
driven, situation-awareness-solution that answers a critical need
in the New Space market.” said Carol Craig, Founder and CEO of
Sidus Space.
"We are proud and excited to partner with Sidus Space in this
innovative project, which positions Maris-Tech’s entry as part of
the prestigious international New-Space club. This collaboration
will bring Maris-Tech’s pioneering solutions to the forefront of
the nanosatellite market,” said Israel Bar, CEO of Maris-Tech.
The international research and development project is supported
by the Israel Innovation Authority in cooperation with Space
Florida. The collaboration will result in the development of an
innovative, state-of-the-art product for the space market through
R&D, testing, and evaluation of technology.
Maris-Tech will provide the know-how and core technology and
will enable surround Ultra-HD video capture, recording and upload
as well as AI acceleration for spacecraft anti-collision, proximity
estimation, landing, and other customer defined algorithms.
Sidus Space will provide the infrastructure and expertise to
perform the required tests and analysis to validate the ability of
the hardware to operate as expected in space, integrate it on a
space proven satellite, launch it into space, and manage its
operation. The comprehensive platform will allow cameras in space
to take and transmit high-quality video and still images and
implement AI algorithms at the edge in real-time.
About Maris-Tech Ltd.
Maris-Tech is a B2B provider of video streaming and AI
technology, founded by veterans of the Israel technology sector
with extensive electrical engineering and imaging experience. Our
products are designed to meet the growing demands of commercial
and tactical applications, delivering high-performance, compact,
low power and low latency solutions to companies worldwide,
including leading electro-optical payload, RF datalink and unmanned
platform manufacturers as well as defense, HLS, and communication
companies. For more information, visit
https://www.maris-tech.com.
About Sidus Space
Sidus Space (NASDAQ: SIDU) is a Space and Defense-as-a-Service
satellite company focused on mission-critical hardware
manufacturing; multi-disciplinary engineering services; satellite
design, production, launch planning, mission operations; and
in-orbit support. The Company is located in Cape Canaveral,
Florida, where it operates from a 35,000-square-foot manufacturing,
assembly, integration, and testing facility focused on vertically
integrated Space-as-a-Service solutions including end-to-end
satellite support.
Sidus Space has a mission of Bringing Space Down to Earth™ and a
vision of enabling space flight heritage status for new
technologies while delivering data and predictive analytics to
domestic and global customers. Any corporation, industry, or
vertical can start their journey off-planet with Sidus Space’s
rapidly scalable, low-cost satellite services, space-based
solutions, and testing alternatives. More than just a
“Satellite-as-a-Service” provider, Sidus Space is a trusted Mission
Partner–from concept to Low Earth Orbit and beyond. Sidus Space is
ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.
Forward-Looking StatementsStatements 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, 2022, 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.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that are intended to be covered by the “safe harbor”
created by those sections. Forward-looking statements, which are
based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as “believe,” “expect,” “may,”
“should,” “could,” “seek, ” “intend, ” “plan, ” “goal, ” “estimate,
” “anticipate” or other comparable terms. For example, we are using
forward-looking statements when we are discussing collaboration
with Sidus Space to develop a system for peripheral photography,
recording, transmission, and artificial intelligence for
nanosatellites and space tools, that this collaboration will bring
our pioneering solutions to the forefront of the nanosatellite
market and what we will provide under the collaboration agreement.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: our ability to successfully
market our products and services, including in the United States;
the acceptance of our products and services by customers; our
continued ability to pay operating costs and ability to meet demand
for our products and services; the amount and nature of competition
from other security and telecom products and services; the effects
of changes in the cybersecurity and telecom markets; our ability to
successfully develop new products and services; our success
establishing and maintaining collaborative, strategic alliance
agreements, licensing and supplier arrangements; our ability to
comply with applicable regulations; and the other risks and
uncertainties described in the Annual Report on Form 20-F for the
year ended December 31, 2022, filed with the SEC on March 6, 2023,
and our other filings with the SEC. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Contact:
MARIS Investor RelationsNir Bussy,
CFOTel: +972-72-2424022
Sidus Space Investor RelationsValter Pinto, Managing
DirectorKCSA Strategic Communicationssidus@kcsa.com(212)
896-1254
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