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AAC Clyde Space to develop AI capability with ESA funding

2022-04-01 AAC Clyde Space AB (publ)
Leading New Space company AAC Clyde Space's subsidiary AAC Hyperion has acquired a contract to develop an onboard artificial intelligence (AI) capability for small satellites in collaboration with the Royal Netherlands Aerospace Centre (NLR). The European Space Agency (ESA) will fund the project with EUR 0.41 M (approx. SEK 4.2 M) sponsored by the Netherlands Space Office (NSO). The funding comes through ESA's General Support Technology Programme (GSTP).

The AI product, consisting of hardware, software and a demonstration algorithm, will be developed jointly by Hyperion and NLR. Hyperion specializes in electronics and miniaturized subsystems for small satellites and NLR brings in its expertise in AI algorithms applied to Earth observation data.

Primarily, the use of AI onboard small satellites is expected to enable increased use of payloads particularly in Earth observation, as well as for weather and climate monitoring. The data volume of high-resolution images collected by these payloads is so high that not all can be downloaded given the download capacity of small satellites. Through smart processing of the sensor data by dedicated onboard AI hardware and algorithms only reduced data volumes need to be transmitted to Earth.

Onboard AI can also improve satellites' performance beyond Earth observation applications by optimizing data links and upgrading constellation control and navigation. Shorter response times will enable improved decision making on Earth, when monitoring vehicles, ships, production sites, infrastructure, crops and natural disasters from space.

Potential customers have already expressed interest to stay involved in the project throughout the development phase.

"Our customers have expressed great interest in the project already, which doesn't come as a surprise as the use of AI will increase and improve the capabilities of small satellites. By teaming up with NLR in the AI field, AAC Clyde Space will be able to leapfrog the development of small satellite technology and create many interesting opportunities for our space services.," says AAC Clyde Space's CEO Luis Gomes.

"NLR is pleased to support AAC Hyperion in its ambition to improve small satellite capabilities introducing AI onboard satellites as a tool to improve satellite efficiency for Earth observation to the benefit of society," says NLR's CEO Michel Peters.

FOR MORE INFORMATION:
Please visit: www.aac-clyde.space or contact:
CEO Luis Gomes [email protected]
CFO Mats Thideman, [email protected], mobile +46 70 556 09 73

ABOUT AAC CLYDE SPACE
AAC Clyde Space specialises in small satellite technologies and services that enable businesses, governments and educational organisations to access high-quality, timely data from space. Its growing capabilities bring together three divisions:

Space Data as a Service - delivering data from space directly to customers
Space missions - turnkey solutions that empower customers to streamline their space missions
Space products and components - a full range of off-the-shelf and tailor-made subsystems, components and sensors

AAC Clyde Space aims to become a world leader in commercial small satellites and services from space, applying advances in its technology to tackle global challenges and improve our life on Earth.

The Group's main operations are located in Sweden, the United Kingdom, the Netherlands, South Africa and the USA, with partner networks in Japan and South Korea.

AAC Clyde Space's shares are traded on Nasdaq First North Premier Growth Market. Erik Penser Bank AB, e-mail [email protected], telephone +46 8 463 83 00, is the Certified Adviser. The share is also traded on the US OTCQX-market under the symbol ACCMF.

About Royal NLR -Netherlands Aerospace Centre
NLR has been a centre of expertise for over a century now, with a deep-seated desire to keep innovating. It is an organisation that works to achieve sustainable, safe, efficient and effective aerospace operations.

The combination of in-depth insights into customers' needs, multidisciplinary expertise and state-of-the-art research facilities makes rapid innovation possible. Both domestically and abroad, NLR plays a pivotal role between science, the commercial sector and governmental authorities, bridging the gap between fundamental research and practical applications. Additionally, NLR is one of the large technological institutes (GTIs) that have been collaborating over a decade in the Netherlands on applied research united in the TO2 federation.

In the field of space, NLR works closely with both industry and government on developing satellite and launcher systems and subsystems, and on effective use of space infrastructure data through applications using Earth observation and satellite navigation data.

Please visit: https://www.nlr.org and https://www.nlr.org/space/ or contact:

Marketing Manager: May Kerstens, [email protected],  +31885113621

28 April 2022
Regulatory

2022-04-28 AAC Clyde Space AB (publ)

28 April 2022

2022-04-28 AAC Clyde Space AB (publ)
Leading New Space company AAC Clyde Space has through its subsidiary AAC Space Africa been selected to deliver a ground station to a client in Africa. The order valued at approx. SEK 3.4 M will be delivered in 2022.

21 April 2022

2022-04-21 AAC Clyde Space AB (publ)
A stellar night at the Corporate Content Awards in London yesterday, where we received three golds for our corporate communications work with Bladonmore.

19 April 2022
Regulatory

2022-04-19
The shareholders in AAC Clyde Space AB (publ), reg. no. 556677-0599 (the "Company"), are hereby given notice to attend the annual general meeting on Thursday 19 May 2022. Attendance at the meeting is only possible via postal ballot. The CEO's statement will be published on the company's website after the annual general meeting.

13 April 2022

2022-04-13 AAC Clyde Space AB (publ)
AAC Clyde Space has issued 525 457 shares to the previous owners of Omnisys Instrument AB as an earn-out payment achieved following the completion of the preliminary design of the weather instrument to the ESA project Artic Weather Satellite (AWS). Omnisys was awarded a EUR 12.2 million contract to supply microwave sounding sensors to the AWS-project in March 2021. The share issue increases the total number of shares in AAC Clyde Space to 193 250 943.

01 April 2022

2022-04-01 AAC Clyde Space AB (publ)
Leading New Space company AAC Clyde Space's subsidiary AAC Hyperion has acquired a contract to develop an onboard artificial intelligence (AI) capability for small satellites in collaboration with the Royal Netherlands Aerospace Centre (NLR). The European Space Agency (ESA) will fund the project with EUR 0.41 M (approx. SEK 4.2 M) sponsored by the Netherlands Space Office (NSO). The funding comes through ESA's General Support Technology Programme (GSTP).

09 March 2022

2022-03-09 AAC Clyde Space AB (publ)
Leading New Space company AAC Clyde Space has won an order for a power subsystem to be utilized in a new type of mission. The order is valued at EUR 0.5 M (approx. SEK 5.3 M), and follows an order received in 2019. The power subsystem is planned to be delivered during the fourth quarter 2022.

03 March 2022

2022-03-03 AAC Clyde Space AB (publ)
AAC Clyde Space has issued 525 457 shares to the previous owners of Omnisys Instrument AB as an earn-out payment achieved following the completion of the preliminary design of a weather instrument. AAC Clyde Space is developing a new WeatherCube for Space Data as a Service weather constellations. The share issue increases the total number of shares in AAC Clyde Space to 192 725 486.

17 February 2022
Regulatory

2022-02-17 AAC Clyde Space AB (publ)

11 January 2022

2022-01-11 AAC Clyde Space AB (publ)
AAC Clyde Space, a leading New Space company, has received a 441 kEUR (approx. 4.5 MSEK) order from UK-based Space Forge to provide space products for a demonstration spacecraft designed to leverage the space environment for production and experiments, capable of performing multiple trips to space.

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IR CONTACT

Mats Thideman CFO and Deputy CEO
+46 70-556 09 73 [email protected]

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