Organization and Description of Business |
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Mar. 31, 2023 | ||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||
Organization and Description of Business |
Note 1. Organization and Description of Business
Organization
Sidus Space Inc. (“Sidus”, “we”, “us” or the “Company”), was formed as Craig Technologies Aerospace Solutions, LLC, in the state of Florida, on July 17, 2012. On April 16, 2021, the Company filed a Certificate of Conversion to register and incorporate with the state of Delaware and on August 13, 2021 changed the company name to Sidus Space, Inc.
Description of Business
Founded in 2012, we are a vertically integrated provider of Space and Defense-as-a-Service solutions including end-to-end satellite support. The Company combines complex mission critical hardware manufacturing; multi-disciplinary engineering services; and satellite and earth observation/remote sensing solutions with a vision to lead the growth of the space ecosystem by enabling space flight heritage status for new technologies and delivering data and predictive analytics to both domestic and global customers. Our advanced space-based data offering will provide imagery in hyperspectral, multispectral and visible bands based upon latest industry needs such as weather, greenhouse gasses, agriculture and supply chain tracking. We have over a decade of commercial, defense and government manufacturing experience combined with a proven track record of success, space qualification experience, existing customers and pipeline, and heritage hardware. We provide solutions for both government and commercial in-space missions for all destinations through the solar system, not just LEO.
We are developing, building, launching and operating a multi-mission constellation of company-owned Earth observation/remote sensing satellites using our multi-mission hybrid 3D printed multipurpose satellites. We have designed and are manufacturing LizzieSat (LS) for our LEO satellite constellation operating in diverse orbits (28°-98° inclination, 300-650km altitude) as approved by the International Telecommunication Union (ITU) in February 2021. LS is expected to begin operations in 2023. Initial launches are planned via SpaceX launch service rideshare contracts and the NASA CRS2 program agreement. We have secured a number of rideshare opportunities with SpaceX and continue to evaluate additional launch providers to ensure robust access to space for our mission and our customers. Each LS is 100kg with up to 35kg dedicated to customer payload requirements including Sidus owned remote sensing instruments for space-based data collection. Payloads (Sidus or customer owned) can collect data over multiple Earth based locations, record it onboard, and downlink via ground passes to the Sidus Mission Control Center (MCC) in Merritt Island, FL. We have executed multiple agreements for global ground station coverage with leading providers of services along with ample backhaul cloud storage services to provide reduced data aging and persistent refresh.
Products and Services
Leveraging our existing manufacturing operations and facilities, flight hardware manufacturing experience and space proven commercial-off-the-shelf (COTS) subsystem hardware, we believe we can deliver customer sensors to orbit in months, rather than years. In addition, we intend on delivering high-impact data and actionable intelligence for insights on aviation, maritime, weather, space services, earth intelligence and observation, financial technology (Fintech) and the Internet of Things. While our business has historically been centered on the design and manufacture of space hardware, our expansion into manufacture of spacecraft as well as on-orbit constellation management services and space data applications has led us to innovating in the area of space data applications. We continue to patent our products including our satellites, external platforms and other innovations.
Our end-to-end space and defense solutions include the following product and services offerings:
Each of these areas and initiatives addresses a critical component of our end-to-end solution and value proposition for the space economy as a Space and Defense-as-a-Service company. The majority of our revenues to date have been from our space related hardware manufacturing, however, 2022 and 2023 revenue includes revenue related to our multi-mission constellation and our hybrid 3D printed LizzieSat satellite. As part of our business strategy, we may expand our offerings from time to time to include the growth of our complex, mission critical hardware manufacturing services to focus on supporting additional launch vehicles for Moon and Mars access.
We support a broad range of international and domestic governments and commercial companies with hardware manufacturing including the Netherlands Organization, U.S. Department of State, the U.S. Department of Defense, NASA, Collins Aerospace, Lockheed Martin, Teledyne Marine, Bechtel, and L3Harris in areas that include launch vehicles, satellite hardware, and autonomous underwater vehicles. Planned services that benefit current and future customers include delivering space-based data that can provide critical insight for agriculture, commodities tracking, disaster assessment, illegal trafficking monitoring, energy, mining, oil and gas, fire monitoring, classification of vegetation, soil moisture, carbon mass, Maritime AIS, Aviation ADS, and weather monitoring; providing the ability for customers to demonstrate that a technology (hardware or software) performs successfully in the harsh environment of space and delivering space services. We plan to own and operate one of the industry’s leading U.S. based low earth orbit (“LEO”) small satellite (“smallsat” or “smallsats”) constellations focused on earth observation and remote sensing. Our operating strategy is to continue to enhance the capabilities of our satellite constellation, to increase our international and domestic partnerships and to expand our analytics offerings in order to increase the value we deliver to our customers. Our two operating assets—our satellite constellation and hardware manufacturing capability—are mutually reinforcing and are a result of years of heritage and innovation.
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