Addvalue Technologies’ wholly-owned subsidiary, Addvalue Innovation, has signed a memorandum of understanding (MOU) with Dragonfly Aerospace, a South African-based space engineering and space mission company on Feb 8.

Under the MOU, both companies will tap on each other’s knowledge of the respective local knowledge and clients’ networks to cross-promote and market Dragonfly’s imaging payloads and satellites and Addvalue’s Inter-Satellite Data Relay Service (IDRS).

Dragonfly has over 30 years of experience in the space arena. It began its business in the 1980s with earth observation satellite missions before progressing to satellite launches in 2018 and to imagery launches in 2020.

Through the business collaboration, Dragonfly says it aims to tackle two high priority challenges of earth observation, namely the quality of the images and the latency of imaging between LEO satellites and satellite operators.

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“Dragonfly and Addvalue will primarily focus on companies from the earth observation industries to access data of high quality and precision for agricultural and environmental analysis. Dragonfly intends to continuously drive innovation through our earth observation solutions with the goal to provide our clients with daily access to high quality imageries of anywhere in the world,” says Bryan Dean, the CEO of Dragonfly.

“The MOU with Addvalue is an important milestone in the acceleration of our plans for near real-time tasking and data delivery as these are services of particular importance for our sub-metre imaging systems,” Dean adds.

“Riding on the recent successful commissioning of our IDRS service in space, this Business Collaboration is part of our ongoing strategy to accelerate the worldwide expansion of our marketing outreach for our IDRS-related business. The partnership with Dragonfly will give us the added impetus to focus on high precision earth observation missions and applications,” says Dr Colin Chan, CEO of Addvalue.

As at 9.47am, shares in Addvalue are trading flat at 2.2 cents.