Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Canada backs startup to boost data on space debris

Published 2019-06-16, 11:00 a/m
Updated 2019-06-16, 11:00 a/m
© Reuters.  Canada backs startup to boost data on space debris

© Reuters. Canada backs startup to boost data on space debris

By Andrea Shalal

PARIS, June 16 (Reuters) - The Canadian government's contracting arm is backing a proposed new satellite system that will use big data analytics to provide commercially available data about the Earth and its orbit amid growing concerns about the risks posed by space debris.

Support from the Canadian Commercial Corporation (CCC) will allow Canadian startup NorthStar Earth and Space to negotiate initial service agreements with the United States, Britain and other countries, NorthStar CEO Stewart Bain said. The deal with CCC will be signed on Monday at the Paris Airshow.

Bain cited strong international interest in the project given increasing levels of activity in space, and mounting concerns about the dangers posed to satellites by some 600,000 estimated pieces of debris floating in the Earth's orbit.

The United States and other governments already collect such data, but demand for near real-time information that is commercially available is growing rapidly, with experts forecasting a "new space" economy worth over $1 trillion a year.

"This agreement puts us in a strong position to work with the United States, the UK and other countries to deliver our services," Bain told Reuters, noting the government of Canada and Quebec had each already invested $13 million to date.

Private investors in the project include Telesystem Space Inc. of Montreal, the majority shareholder, and the Space Alliance of Europe, which was formed by Telespazio and Thales Alenia Space, a joint partnership formed by France's Thales TCFP.PA and Italy's Leonardo LDOF.MI .

NorthStar's proposed system calls for the 2021 launch of a new constellation of small satellites that will use an array of hyperspectral, infrared and optical sensors to continuously monitor and analyse the Earth's ecosystems and orbit.

The company said its system would use big data analytics and artificial intelligence to make sense of the huge amount of information and accurately predict potential collisions with debris and other objects in space, while helping to validate and improve the performance of existing surveillance systems.

U.S. Commerce Secretary Wilbur Ross, who will attend this week's Paris Airshow, said last week he was encouraging all space-faring nations to work together on common issues such as space debris that could stifle the commercialization of space.

"Partnerships are important in a world where there are alternative views about the future of space," he said.

Anti-satellite tests conducted by China in 2007, and most recently, India in March, have raised questioned about the long-term sustainability of operations in space that are essential to a huge range of activities, including banking and GPS services.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.