UrtheCast Agrees to Sell and Operate First Two Satellites in SAR Constellation for $180 Million
[Via Satellite 01-17-2017] UrtheCast has entered into a binding agreement with a confidential government customer for the sale and shared operation of the first two satellites in its OptiSAR constellation, a commercial EO constellation with integrated optical and Synthetic Aperture Radar (SAR) sensors. The deal is valued at $180 million, according to a Jan. 17 statement released by UrtheCast. The customer has also agreed to pay an additional $30 million for other products and services related to the sale of the satellites, contingent on the parties reaching mutual agreement on the final scope of these deliverables.
The geospatial and geo-analytics company is currently developing two EO satellite constellations, OptiSAR and UrtheDaily. UrtheCast has planned for the OptiSAR constellation to comprise 16 satellites in total, eight optical and eight SAR, flying in two orbital planes, with each plane consisting of four satellite pairs. Each pair will fly in tandem and consist of a high-resolution optical satellite offering video and pushbroom imaging and a dual-band SAR satellite comprised of X and L radar bands. Subject to UrtheCast financing the build and launch of the remaining six satellites in the first orbital plane, the first eight satellites are scheduled for launch in late 2021, with operations expected to begin in 2022.