ST Engineering-Geo Insights will offer advanced geospatial analytics amongst other services.
Singapore Technologies Engineering (ST Engineering) announced that its electronics arm has inked an agreement with Singapore’s national defence research and development (R&D) organisation DSO National Laboratories to set up a joint venture firm (JVCo) which will offer analytics, information products and value-added services based on satellite imagery.
ST Engineering’s planned investment of approximately $4.1m is for a 51% stake in the JVCo, whilst the remaining 49% will be held by DSO.
The ST Engineering Geo-Insights JVCo intends to tap on emerging new space technologies to pursue potential business opportunities for low cost small satellites design, development, manufacturing and operation.
According to its joint statement, the move aims to address the growing global demand for timely insights that enable better and faster business decisions, such as the remote detection of real-time changes of on-site infrastructure development projects and precision agriculture mapping for enhanced yield and sustainability.
“We will offer advanced geospatial analytics to the global market and exploit the vast possibilities in smallsat constellation for commercial applications,” ST Engineering’s president for electronics Ravinder Singh said in a statement. “This joint venture will enhance the space eco-system in Singapore as we work with industry partners to commercialise geospatial services and new space technologies.”
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