Ursa to Extract Oil Demand Information from ICEYE’s Satellite Data

Leading New Space companies leverage synthetic-aperture radar capabilities to help decisions makers across the oil industry

Helsinki, FINLAND – April 25, 2018 – ICEYE, an Earth observation company providing synthetic-aperture radar (SAR) data, and Ursa Space Systems (Ursa), a Space data analytics company, announced at GEOINT Symposium an agreement where ICEYE will provide satellite data to Ursa. The data from ICEYE’s SAR satellites, used to monitor oil wells and measure global oil storage, will enable Ursa to derive actionable oil demand insights for their customers.

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“Ursa’s mission to help their customers make more informed decisions is a vision that ICEYE has been aligned with since our founding,” said Rafal Modrzewski, CEO and co-founder of ICEYE. “This partnership is a marvelous example of how ICEYE is able to generate valuable change detection data for specific industries, such as the energy sector.”

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Based in Ithaca, New York, Ursa brings transparency to global markets, helping traders and analysts in the financial industry, as well as the energy industry, make more informed decisions. Ursa uses space-based data from satellites as the source of their timely reports on these industries.

“Actionable insights around the oil industry are very valuable for traders and analysts,” said Adam Maher, CEO at Ursa. “ICEYE’s SAR imagery is exactly the kind of data we need to deliver reliable global economic intelligence for those decision makers.”

ICEYE remains on track to launch its next two SAR satellites, ICEYE-X2 and ICEYE-X3, later this year. ICEYE’s goal is to launch a comprehensive SAR satellite constellation, which empowers data users with reliable visibility to any point on Earth every few hours.

About ICEYE

ICEYE aims to provide democratized access to reliable earth observation data through developing efficient SAR sensors and microsatellites, enabling everyone to make better decisions. Through an imaging service available anywhere around the globe, anytime, and with response times measured in just few hours, ICEYE helps clients resolve challenges in segments such as maritime, disaster management and security and intelligence. ICEYE is the first organization in the world to successfully launch SAR microsatellites. For more information, please visit:  www.iceye.com.

About Ursa

Ursa is on an unflinching quest to move the world forward by turning data into decision advantage. Founded in 2014, Ursa pioneered transparency into oil data in China and has since expanded their global reach with geospatial intelligence products that set new standards for accuracy and reliability and are designed to empower customers with critical insights that make an impact. For more information visit www.ursaspace.com.



Contact:

Aubrey Lerche
Barokas PR for ICEYE
Email Contact




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