HALIFAX, Nova Scotia--(BUSINESS WIRE)--Maritime Launch Services Inc. (Cboe: MAXQ, OTCB: MAXQF) and The Spaceport Company have inked a Letter of Intent (LOI) to lease a containerized tracking and telemetry station (TTS) from The Spaceport Company (TSC) for an inaugural orbital launch from Canada, with options to purchase multiple units as Maritime Launch operations ramp up.
“This agreement allows us to provide Maritime Launch customers alternatives for on-site and downrange support for space launch operations from Spaceport Nova Scotia,” said Stephen Matier, President and CEO. “It’s important that our clients receive all their service needs at the ready, so they can focus on their satellite client missions.”
The Spaceport Company builds infrastructure to solve the problem of launch site congestion. Founded in 2022 in Northern Virginia, TSC now has locations in Florida and Mississippi. The team has over 30 years of combined experience in the space and infrastructure industries. Leveraging their extensive expertise, The Spaceport Company has developed an innovative launch tracking system assembled in a transportable container, enabling swift deployment of their technology anywhere it is needed to support launch missions.
Maritime Launch is developing Spaceport Nova Scotia, Canada’s first commercial spaceport located near Canso, Nova Scotia.
This affordable and flexible launch tracking service will be offered to Maritime Launch clients as a part of their facility lease at Spaceport Nova Scotia with planned pickup points not only at launch, but also through orbital insertion and beyond. Multiple transportable units may be deployed in multiple locations globally to provide continued tracking as the launch vehicle follows its path to orbit.
Maritime Launch plans to offer this mobile tracking service on its first orbital mission, slated for 2025.
"We are delighted to collaborate with Maritime Launch on tracking and telemetry stations," stated Tom Marotta, CEO and Founder, The Spaceport Company. "This Letter of Intent signifies the beginning of a promising partnership that will contribute to the advancement of space launch capabilities in Canada."
The LOI between Maritime Launch and The Spaceport Company sets the stage for further discussions and negotiations towards finalizing agreements for the lease and eventual purchase of tracking and telemetry stations.
Both parties are fully committed to working closely together to realize their mutual objectives of supporting space launch operations and fostering innovation in the fast-growing global commercial space sector.
About Maritime Launch Services
Maritime Launch is a Canadian-owned commercial space company based in Nova Scotia. Maritime Launch is developing Spaceport Nova Scotia, a launch site that will provide satellite delivery services to clients in support of the growing commercial space transportation industry over a wide range of inclinations from a single site. Spaceport Nova Scotia will allow launch vehicles to place their satellites into low-earth orbit. Spaceport Nova Scotia is Canada’s first commercial orbital launch complex.
For more information about Maritime Launch and Spaceport Nova Scotia, visit www.maritimelaunch.com
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the timing of spaceport construction and ability to launch medium class vehicles.
Forward-looking statements in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the Company’s ability to continue to develop revenue-generating applications; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued growth of the Company; the Company’s ability to finance its operations until profitability can be achieved and sustained.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company’s operations; the inability of the Company to provide the enumerated services; and availability of launch vehicles.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
