SatVu propels expansion plans with contract signing for next two satellites: HotSat-2 and HotSat-3
SatVu is announcing significant advancements in its satellite program and expansion efforts - continuing its mission to capture the highest resolution thermal data from space for a safer and more sustainable Earth.
The signing of the contract for its next-generation satellite, HotSat-2, marks a huge milestone for SatVu. Building upon the success of the pathfinder HotSat-1, HotSat-2 will elevate SatVu's ability to harness space technologies for the betterment of our planet.
This year, the SatVu team is leveraging insights gained from their inaugural mission to develop informative and analytics ready data products in preparation for the next launch.
With the scheduled launch of HotSat-2 followed by HotSat-3 in 2025, SatVu will continue to provide a new layer of data that augments our understanding of the planet - from economic monitoring and national security to climate resilience, including urban heat monitoring.
With a proven product-market fit and a technological edge demonstrated by the success of the HotSat-1 mission, alongside a diverse array of high-value applications and end customers, SatVu is fueling further growth and garnering continued support from investors.
The company has confirmed the first close of its latest funding round. This new capital is expediting the development of HotSat-3, with the aim to launch after HotSat-2 in 2025.
The two new satellites, already beginning to attract customer commitments, are poised to generate significant recurring revenue. On reaching such commercial scale, the next stage of SatVu's growth story will follow, with launch of the remainder of the 9 satellite constellation, taking the business to critical mass. The strong support from investors reflects confidence in SatVu's vision and its ability to drive positive global impact through space-enabled solutions.
The data provided by HotSat-1 supported major global discoveries, including aiding the investigation into the timeline of operations at Korea’s Yongbyon Nuclear Scientific Research Center. Now, leveraging the wealth of information collected by HotSat-1, SatVu has enhanced their two-year product roadmap including building out industry-leading features on the SatVu Platform, as well as projects to deliver AI-driven insights.
Anthony Baker, CEO and Co-Founder of SatVu: “With the signing of the HotSat-2 contract, commitment to HotSat-3, huge customer interest, and robust product plan, we're accelerating our journey to shape the future of climate technology. Building on HotSat-1's strong foundation, we're focused on even greater innovation and impact with our upcoming satellite launches. Our team is now supercharging our efforts to push the boundaries of thermal infrared from space, ensuring SatVu remains a leader in the industry.”
Craig Brown, Investment Director at the UK Space Agency, said: “Congratulations to SatVu, which is demonstrating the power of satellite thermal imagery and attracting significant inward investment and customer interest. Having supported the company through our National Space Innovation Programme, we’re looking forward to the launches of these new satellites and to more organisations benefiting from the actionable insights they will provide from space.”
As SatVu looks ahead to the launch of HotSat-2 and the expansion of its satellite constellation, the company remains focused on its commitment to leveraging data-driven insights to enable us to see the world like never before and take critical action towards Net Zero goals.