SINGAPORE (Feb 14): ST Engineering’s electronics arm has signed an agreement with DSO National Laboratories (DSO), Singapore’s national defence research and development (R&D) organisation, to set up a joint venture company.
The JVCo, to be named ST Engineering Geo-Insights, will offer analytics, information products and value-added services based on satellite imagery to address growing global demand for timely insights that enable better and faster business decisions.
The JVCo also intends to tap on emerging new spaåce technologies to pursue potential business opportunities for low cost small satellites, or smallsat constellation design, development, manufacturing and operation.
Under the agreement, ST Engineering will invest US$3 million ($4.1 million) for a 51% stake in the JVCo. The remaining 49% will be held by DSO.
“This joint venture will enhance the space eco-system in Singapore as we work with industry partners to commercialise geospatial services and new space technologies,” says Ravinder Singh, President, Electronics, ST Engineering.
“This is DSO's third joint venture with ST Engineering. We share a common vision to support the growth of Singapore's space industry. DSO is happy to be able to contribute our research and systems engineering competencies, as well as geospatial analytic capabilities to the success of this vision,” says Cheong Chee Hoo, Chief Executive Officer, DSO National Laboratories.
The satellite industry is being disrupted by technological advances that enable faster development and launch of lower cost yet reliable high resolution small satellite constellations, making large volumes of satellite imagery readily available.
This, coupled with the advancement of data analytics and machine learning technologies, are empowering customers with critical insights to drive business growth and smart city applications.
Some of these include the remote detection of real-time changes of on-site infrastructure development projects; movement of ships for enhanced maritime safety; as well as precision agriculture mapping for enhanced yield and sustainability.
The agreement was signed by Cheong Chee Hoo and Ravinder Singh at the Global Space and Technology Convention (GSTC) 2019 today, and witnessed by Chan Chun Sing, Minister for Trade & Industry, and Vincent Chong, President & CEO of ST Engineering.
