exactEarth Ltd. (TSX: XCT), announces that it has signed a contract with Antrix Corporation Ltd., the commercial arm of the Indian Space Research Organization, to provide Satellite AIS data services to the Indian Navy. The three-year subscription revenue contract is valued at USD $1.75 million in total.
With more than 7,500 km of coastline and significant off-shore resources, keeping track of maritime activity is paramount to maintaining India’s security and economic activity. exactEarth’s Satellite-AIS technology will help our client to identify, detect and track vessels of interest and to secure the country’s maritime borders.
“We are very pleased to have won this competitive bid, which has resulted in our first data services agreement for this client,” said Peter Mabson, CEO of exactEarth. “During the course of the agreement, we believe there will be an opportunity to expand our relationship with Antrix Corporation, especially as our second generation constellation comes on-line, and with it the potential for real-time updates.”
About exactEarth Ltd.
exactEarth is a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions. Since its establishment in 2009, exactEarth has pioneered a powerful new method of maritime surveillance called Satellite AIS (“S-AIS”) and has delivered to its clients a view of maritime behaviours across all regions of the world’s oceans unrestricted by terrestrial limitations. exactEarth has deployed an operational data processing supply chain involving a constellation of satellites, receiving ground stations, patented decoding algorithms and advanced “big data” processing and distribution facilities. This ground-breaking system provides a comprehensive picture of the location of AIS equipped maritime vessels throughout the world and allows exactEarth to deliver data and information services characterized by high performance, reliability, security and simplicity to large international markets. For more information, visit exactearth.com.
