Shares of engineering services provider Sidus Space Inc SIDU are shooting higher after it secured a Tier 1 remote sensing license to include Panchromatic (PAN) and Shortwave Infrared (SWIR) imaging capabilities.
The National Oceanic and Atmospheric Administration (NOAA) has granted the license.
The approval includes Sidus' upcoming LizzieSat slated for launch in March 2024, as well as subsequent LizzieSat satellites.
Under the license, Sidus LizzieSat satellites will collect and distribute images and data to government and commercial customers to support various applications.
The data from the PAN and SWIR imagers will provide near real-time customer status about marine traffic trends, illegal fishing activities, methane emission locations and quantities, and vegetative stress implications on crop production around the globe.
LizzieSat is expected to launch in March 2024 on SpaceX's Transporter-10 mission from California.
"With PAN and SWIR imaging capabilities, we're focused on our commitment to practical innovation in space technology while addressing real-world challenges," said Carol Craig, CEO and Founder of Sidus Space.
Price Action: SIDU shares are trading higher by 59.79% at $11.14 on the last check Wednesday.
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