HySpecIQ, a global leader in hyperspectral imaging and data analytics, today announced a partnership with Bayanat, an ADX-listed public company and leading provider of AI-powered geospatial solutions.
Hyperspectral imaging is a powerful technology that enables identification of objects from space. It takes advantage of the fact that all objects reflect light, both visible and beyond, in a unique fashion, essentially creating a spectral fingerprint which provides detailed information about the identity, composition, and characteristics of targeted objects. The relationship between HySpecIQ and Bayanat will support the creation of hyperspectral data applications as well as the development of systems that can combine hyperspectral with other geospatial data to produce high value insights.
With its expanding network of remote sensing data sources, Bayanat is an ideal partner for this complex undertaking. HySpecIQ will enable an unprecedented level of insight for customers in the UAE and throughout the region. The collaboration will explore establishing a Hyperspectral Centre of Excellence in the UAE to develop an ecosystem of hyperspectral imagery analysts, engineers, and managers as well as coordinate operations. These individuals will join the growing ranks of highly skilled Emiratis creating a cluster of space expertise in the UAE as stated in the strategic vision of the leadership.
Spaceborne hyperspectral imaging offers valuable information to many markets – defense and security, oil and gas, environmental, and agricultural. Bringing together the geospatial service experience of Bayanat with the hyperspectral expertise of HySpecIQ, and the commercial development expertise of AzurX, the partnership will explore the full range of solutions arising from this emerging capability, targeting high value use cases for a range of customers, and will develop effective strategies to maximize their potential.
The hyperspectral imaging systems market size was valued at over USD$16 Bln in 2022 and is projected to reach more than USD$47 Bln by 2032 backed by growing demand in remote sensing applications, increasing industrial applications of HSI, technological advancements in HSI and increasing government initiatives and funding globally. [Source: Global Market Insights]
AzurX, the United Arab Emirates’s leading space advisory firm, facilitated the partnership. Bayanat and AzurX are collaborating with the aim of enhancing the UAE’s space ecosystem capabilities and establishing global partnerships.
Hasan Al Hosani, MD of Bayanat commented:
“Bayanat continues to lead in providing innovative solutions from data acquired through advanced remote sensing capabilities. Hyperspectral imaging satellites will allow us to develop models that not only provide new and unique insight into the observable world but will allow us to enrich existing analytics with fused data. HySpecIQ will therefore complete our information picture and we look forward to working with our new partners towards the next generation of remote sensing.”
Bill Sullivan, Chairman of HySpecIQ said:
“Hyperspectral imaging is at the cutting edge of remote sensing technologies and the UAE, as it continues to deliver on its ambitious space strategy, represents the perfect partner in developing our capabilities further. We are excited to be working with Bayanat to realize innovative and disruptive solutions in earth observation and exquisite data analytics.”
Anna Hazlett, CEO of AzurX, said:
“It is AzurX’s mission to bring cutting-edge satellite and geospatial technologies to the UAE and wider region. We facilitated this important agreement between HySpecIQ and Bayanat, as it is our belief that hyperspectral imagery will provide revolutionary data analytics to a range of sectors such as defence, agricultural and environmental monitoring, as well as the commodity and insurance markets. HySpecIQ offers the most precise and advanced hyperspectral products in the market and this partnership with Bayanat, one of the most advanced geospatial companies in the world, will make for a powerful and game-changing combination.”
About Bayanat
Bayanat, an ADX listed public company with majority shareholding by G42, provides comprehensive world-class AI-powered geospatial solutions to a growing number of sectors such as Government Services, Environment, Energy & Resources, Smart Cities and Transportation. It’s offering includes topographic, hydrographic and aeronautical products and charts, as well as spatial data surveying, analysis, management, modelling, visualization and cartography services. Bayanat’s solutions harness vast amounts of premium and unique data from a range of sources including Satellites, High Altitude Pseudo Satellites (HAPS) and Earth Observation powered by AI to drive geospatial intelligence (gIQ).
About HySpecIQ
HySpecIQ designs and deploys space-based sensors that collect hyperspectral data as well as providing advanced analytics to make sense of the rich data. HySpecIQ’s effectiveness is rooted in a combination of optical science, data fusion, sensor technology, and machine learning. HySpecIQ closed its Series B US$ 20M funding round in Q4 2021. HySpecIQ’S vision is to empower the most prominent intelligence, defense, and industry decision makers with insights and analytics to make safer, smarter, stronger, and more sustainable decisions.
About AzurX
AzurX, a UAE-based professional services and investment firm for the space and satellite sector, is the chosen partner to emerging and leading commercial space and satellite companies, government entities responsible for civil and national security space activities, and strategic investment arms. We provide advisory services and full support to secure investment, strategic partnerships, boost research and development and develop business in the United Arab Emirates (UAE) and the wider Gulf region. AzurX has a track record in bringing cutting edge space and satellite companies to the region as part of its ongoing strategy of facilitating high-technology access for the region and providing commercial and investment services to companies providing these strategic technologies. Follow on Twitter, LinkedIn and Instagram.
