USPACE and Space Agency Partner to Establish Aerospace Joint Venture in Cairo

Written by Copernical Team Friday, 16 August 2024 12:56

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Sydney, Australia (SPX) Aug 16, 2024

USPACE Technology Group Limited ("USPACE," Stock Code: 1725.HK) is pleased to announce that the Group has signed the strategic partnership agreement with the Egyptian Space Agency ("EgSA"), in relation to satellite manufacturing and testing, satellite launch, education and training, greatly expanding its business presence in the fast-growing African space market. The collaboration between

USPACE and Space Agency Partner to Establish Aerospace Joint Venture in Cairo
by Simon Mansfield
Sydney, Australia (SPX) Aug 16, 2024

USPACE Technology Group Limited ("USPACE," Stock Code: 1725.HK) is pleased to announce that the Group has signed the strategic partnership agreement with the Egyptian Space Agency ("EgSA"), in relation to satellite manufacturing and testing, satellite launch, education and training, greatly expanding its business presence in the fast-growing African space market.

The collaboration between USPACE and EgSA will establish a joint venture in Cairo, Egypt, poised to be one of the first commercial aerospace companies in the country. This venture represents a major milestone in the Group's expansion within the African market. The partnership includes the creation of satellite manufacturing and payload design centers, component and precision manufacturing facilities, all of which will be located at the Egyptian Space City in Cairo.

Additionally, the joint venture will oversee the development of an integrated satellite constellation focused on remote sensing and communication across Africa. This constellation will be based at the Egyptian Space City, along with a globally oriented space laboratory to be established in Cairo. The partnership will also involve comprehensive cooperation in space technology, ranging from design and programming to the manufacturing of components and subsystems, space payload development-including electro-optical, radar, and communication technologies-and the full assembly, integration, and testing of satellites.

EgSA, founded in January 2018 and headquartered in Egyptian Space City, is a governmental organization dedicated to advancing Egypt's space technology and satellite launch capabilities. The agency plays a crucial role in Egypt's national sustainable development strategy, "Egypt-SDS2030." Additionally, as the host of the African Space Agency, EgSA's network with other regional governmental space agencies will provide USPACE with new opportunities for collaboration and further strengthen its position within Africa.

USPACE's global expansion strategy continues to show substantial progress. The company is building a complete aerospace ecosystem while innovating core satellite products. On July 25, 2024, marking the first anniversary of the Group's ASPACE Hong Kong Satellite Manufacturing Center, USPACE unveiled its disruptively low-cost commercial optical satellites on its official website. These satellites feature resolutions ranging from 5 meters to 0.5 meters, with prices between USD 35,000 and USD 990,000. The most noteworthy product is a high-resolution optical satellite with 0.5-meter resolution, available at USD 990,000.

USPACE also plans to offer nearly 100 types of satellite components and application services, including separation seats, multi-satellite dispensers, and lightweight cameras with 0.5-meter resolution. The Group is confident that these offerings will allow it to compete effectively in the global commercial aerospace market, enhancing brand awareness, expanding its customer base, and increasing market share.