USPACE Technology Group Limited (“USPACE” or “the Group”; Stock Code: 1725.HK) is pleased to announce that it has signed a strategic partnership agreement with the Egyptian Space Agency (“EgSA”) for satellite manufacturing, testing, launch, education, and training, greatly expanding its business presence in the fast-growing African space market.
USPACE and EgSA plan to establish a joint venture in Cairo, Egypt, which will be one of Egypt’s first commercial aerospace enterprises, marking a milestone in the Group’s aerospace business expansion in Africa.
USPACE and EgSA collaborate on many projects, including satellite manufacture, payload design and manufacturing, and component and precision manufacturing in Cairo’s Egyptian Space City.
They will also build a worldwide space laboratory in Cairo and an integrated satellite constellation for remote sensing and communication across Africa at the Egyptian Space City. The alliance will also cover space technology design, programming, component and subsystem manufacturing, space payload development (electro-optical, radar, and communication), satellite assembly, integration, and testing.
Since January 2018, EgSA has been based in Egyptian Space City, the African Space Agency’s headquarters. Egyptian government agency EgSA seeks space technology and satellite launch capabilities to accomplish “Egypt-SDS2030” sustainable development goals.
The Strategic Partnership Agreement will allow USPACE to use EgSA’s aerospace technologies, facilities, and infrastructures, including satellite manufacturing plants and facilities at the Egyptian Space City, and to access EgSA’s network with regional government space agencies as the host of the African Space Agency, creating new collaboration opportunities with other market players and governments.
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USPACE’s worldwide strategy advances. As it innovates and develops satellite products, the Company is constructing an aerospace ecosystem.
The Group’s disruptively low-priced commercial optical satellites were unveiled on its website to celebrate the first anniversary of its ASPACE Hong Kong Satellite Manufacturing Center. These satellites cost between $35,000 to $990,000 and have 5–0.5-meter resolutions.
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The market leader is the USD990,000 commercial optical satellite with a 0.5-meter resolution. Including separation chairs, multi-satellite dispensers, and 0.5-meter resolution lightweight cameras, the Group expects to supply almost 100 satellite components and application services.
The Group is certain that this series of satellite products can directly compete in the global commercial aerospace industry, rapidly improve brand awareness, considerably expand its client base, and further grow market share.
About USPACE Technology Group
USPACE Technology Group Limited is based in Dubai and Hong Kong. The Company aims to become a leading provider of outer space technology and Earth application services to promote sustainable development of the Earth and human society.
