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exactEarth agrees space-AIS contract with Canadian government

Space-based AIS company exactEarth reports that it has won a new contract with the Government of Canada for the provision of AIS maritime data services.

{mprestriction ids="1,2"}The initial length of the contract covers the period to March 31, 2017, with two one-year options, which, if exercised by the Canadian government, extends the term to almost three years.

However, exactEarth says that the revenue level from this new contract is approximately CND$600,000 per month lower than the revenue level generated for satellite AIS data services that were provided to the Government of Canada for domestic use last year.

“While we are always pleased to win competitive tenders, our solution to the (Government of Canada) requirements in this case required only a small fraction of our satellite AIS capabilities, which was below our expectations,” said exactEarth CEO Peter Mabson.

“With the procurement selection process complete we can now begin dialogue and implementation under this contract with the GoC end-users. We look forward to continuing to work with this longstanding customer to provide advanced maritime domain awareness capabilities that enable them to meet their objectives for maritime security, safety and arctic monitoring.”

In related news, exactEarth has also announced that it has entered into a partnership agreement with EV Image, a provider of GIS software and remote sensing data, to distribute its satellite AIS solutions in China.

Under the terms of the agreement, EV Image's wholly-owned maritime subsidiary, Marinfo Technology, will have exclusive rights in selected market segments to distribute these services in China for a six-year period, beginning in May 2016.

In return, EV Image will pay exactEarth a base amount of US$8.5 million over the agreement's six-year term, with the potential for additional payments should business levels exceed target amounts.

“We are very pleased to enter the Chinese market with an established and well-connected partner like EV Image,” said Mr Mabson.

“The Asian region represents a significant opportunity for exactEarth and China is one of the largest maritime nations in the world. EV Image has made a strong commitment to exactEarth with this partnership agreement, which reflects the considerable opportunity that we both see in China.”{/mprestriction}

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