NEW YORK, Sept. 14, 2018 /PRNewswire/ -- HyperSat LLC announces that it has secured an initial $85 million investment from an equity consortium led by Incentrum Group to fund the development and launch of the world's first commercial constellation of high-resolution hyperspectral imaging satellites.
HyperSat LLC will be finalizing the procurement of two Low-Earth orbit satellites capable of imaging 200+ spectral bands with a sub-10 meter ground sample distance. These first satellites will form the foundation of what is expected to be an initial fleet of six hyperspectral remote sensing satellites. The two first satellites are expected to be on orbit in 2020.
The HYPERSAT space-based hyperspectral imaging service uses a spectrometer orbiting on a satellite bus to measure contiguous spectral bands reflecting from the Earth's surface, capturing the information in 3-D data cubes. All objects, materials, and processes have distinctive spectral signatures which enable their identification within these data cubes through machine-to-machine analysis. This allows their presence in specific locations on Earth to be detected from the satellite with great accuracy.
Derek Woods, Founder and CEO of HyperSat LLC, commented "The funding of HyperSat represents a major development in the earth observation sector by enabling us to be the first to market with high-quality, high-resolution, affordable hyperspectral imagery and analysis. We will be the first to provide clients in the government, agriculture and forestry, energy, and mining sectors with uniquely detailed hyperspectral information faster and more affordably than can be done through any existing platform. Over time, HyperSat will build an unparalleled library of hyperspectral imagery covering key locations of interest across the globe."
Admiral James Stavridis (Ret.), Chairman-designate of HyperSat LLC's parent company, added "HyperSat will provide the United States government and its allies with mission-critical information from new sensors that will have extensive applicability across intelligence, military, law enforcement, environmental, and civil defense missions. I am delighted to be chairing a company that will make exquisite hyperspectral imagery available to both the public and private sectors at a time when there is significant need for such information."
The Board of Directors of HyperSat LLC's parent company will include Admiral Stavridis (Chairman), formerly the 16th Supreme Allied Commander at NATO, Letitia Long, who was the 5th Director of the National Geospatial-Intelligence Agency, Geoffrey D. Fink, who previously served on the board of Eutelsat SA and numerous other technology businesses and who is a founding partner of Incentrum, Lars Andersson, a founding partner of Incentrum, and Mr. Woods.
Closing of this transaction is subject to regulatory approvals.
About HyperSat LLC:
HyperSat LLC has obtained a NOAA license and funding that will allow it to be the first commercial operator to provide high-resolution hyperspectral satellite imagery and analysis to decision makers globally. HyperSat LLC will soon be providing unique information, insights and solutions to customers in environmental monitoring, agriculture, oil and gas, insurance, mining, law enforcement, disaster recovery and defense and intelligence.
About Incentrum Group:
Incentrum is a global merchant bank based in New York City, focused on the technology, healthcare, and life and material science industries. Incentrum pursues private equity investments in specific industries and serves a select group of corporate clients as their strategic financial advisor. Incentrum's strategic and industry focus, long-standing relationships with industry-leading companies, and an advisory board of senior corporate executives creates deep understanding and connectivity enabling differentiated proprietary insights, ideas, and deal flow. Incentrum's partners are experienced investment bankers, private equity professionals, and corporate executives with extensive investing, financial, structuring, and operational expertise. We have multiple decades of experience in our target industries and approach opportunities with deep strategic and financial insight. As a true partnership, Incentrum seeks to attract, train, and retain the strongest talent with the greatest level of integrity, insight, and experience.