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(NASDAQ:SIDU) shares are surging on a collaboration. Shares are up more than 120%

(NASDAQ:SIDU) shares are surging on a collaboration. Shares are up more than 120%

Sidus Space Signs Memorandum of Understanding with Dhruva Space Expanding their Collaborative Partnership to Serve Global Customers with Space Technologies and Services

Business Wire   “Press Releases – English”

CAPE CANAVERAL, Fla.–(BUSINESS WIRE)–Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on commercial satellite design, manufacture, launch, and data collection, recently signed a memorandum of understanding with Dhruva Space Private Limited to further commercialization of new and innovative space technologies and services.


With this partnership, Sidus Space and Dhruva Space will explore collaborations to support the missions of the space programs in India and the United States through strategic alignment and value-add agreements related to satellites, Mission Operations Centers, Ground Stations, space-related hardware and software, and other technologies.


The partnership will include a foundation of services that will support:


  • Each companys individual research and development of new space technologies, while also pursuing space science research and planetary exploration;

  • Collaboration on the fielding of satellites and related technologies;

  • The discovery and expansion of knowledge for the benefit of humanity; and

  • The commercialization of tested and sustained space technologies.


The agreement will also include the sales and marketing of manufacture, integration, and deployment of satellites to rapidly raise the Technology Readiness Level (TRL) for technologies with on-orbit testing of subsystems and other technologies in a space environment.


Our renewed and enhanced agreement with Dhruva Space is another significant step towards our collective plans to design, manufacture, deploy and support constellation-based solutions for global commercial and government customers. This agreement with Dhruva was just one of the many significant customer and partner opportunities that came out of the SATELLITE 2022 conference in March, said Carol Craig, Sidus CEO/Founder. We believe this relationship with Dhruva will significantly increase the number of potential opportunities and customers of both companies. With Dhruva, we look forward to meeting our goals of bringing space down to Earth for anyone with our turnkey solutions.


“Following the exciting events of Sidus Space undertaking a zero-gravity test of our CubeSat deployer in December 2021, we look forward to this new phase of our partnership with Sidus Space that marks a new phase of growth and collaboration. We look forward to aggrandizing the Government of India’s emerging and progressive Space Policy initiatives, as the privatization of India’s Space Sector moves ahead. The continuation of the Sidus Space-Dhruva Space partnership will engender stronger bilateral cooperation between India’s and the United States’ commercial spheres to jointly offer Space Technology solutions for the global market,” said Sanjay Nekkanti, CEO & Co-founder, Dhruva Space.

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