UK space technology firm, Satellite Vu, has signed a launch deal with Elon Musk’s SpaceX to launch its high-resolution thermal imaging satellite in early 2023.
Satellite Vu, where Seraphim Space Investment Trust PLC (LSE:SSIT) is an investor, will be part of a rideshare launch on one of SpaceX’s Falcon 9 rockets.
The mission will launch the first of seven UK-built satellites into a low earth orbit for Satellite Vu, which has so far raised £15mln in early investment and received two grants from the UK Space Agency and another grant from the European Space Agency.
Satellite Vu says its full constellation of satellites will be able to collect thermal data, both day and night, of the built and natural environment at any location on the planet, with the ability to measure the heat signature of any building multiple times a day, enabling the company to provide close to real-time insights about building heat loss, giving an accurate image of where to implement energy optimisation investments, offering substantial cost saving benefits to both public and private sector.
The satellites are being built by Surrey Satellite Technology Limited (SSTL) with the world’s highest resolution thermal imaging capabilities, with video generation that capability adds unique advantages over traditional imagery, allowing for the detection of highly dynamic features and the building of 3D profiles, which will allow the monitoring of pollution of waterways from industrial processes, reducing the cost of heating buildings and ensuring buildings are energy efficient, and assessing the activity status of solar farms.
Anthony Baker, founder and chief executive of Satellite Vu, said: “We are delighted to have agreed to launch with SpaceX which will see the first of our innovative satellites launched into space. It is a really exciting time for the UK space sector and our satellites will make a real difference to the fight against climate change.”
“The world is struggling to lower their carbon emissions in order to meet climate targets, but through the data provided by these satellites, governments and businesses will be able to monitor their energy wastage and take action in order to make a tangible impact as we drive towards our collective climate goals.”
James Bruegger, chief investment officer of Seraphim Space (Manager), the manager of Seraphim Space Investment Trust, said: “Our investment into Satellite Vu will enable the company to expand at scale, increasing the number of thermal infrared satellites to help them collect the highest resolution thermal data, both day and night, at any location on the planet.
“Satellite Vu is a central protagonist in the Space sector’s quest to help solve some of our world’s most pressing challenges, providing near real-time insights on building heat loss and data on energy optimisation investments, which will play an integral role in addressing pressing climate change issues such as disaster relief, natural habitat destruction and energy usage.”