ST Engineering said on Thursday its electronics arm will set up a joint venture with DSO National Laboratories to offer analytics, information products and other services based on satellite imagery.
“This joint venture will enhance the space eco-system in Singapore as we work with industry partners to commercialize geospatial services and new space technologies,” Ravinder Singh, president for electronics at ST Engineering, said in the statement.
DSO CEO Cheong Chee Hoo noted this was his organization’s third joint venture with ST Engineering, and added it would contribute research and systems engineering skills as well as geospatial analytic services. DSO is Singapore’s national defense research and development organization.
The joint venture, ST Engineering Geo-Insights, will be 51 percent owned by ST Engineering, which plans to invest US$3 million or around S$4.1 million for it stake, it said in a filing to SGX on Thursday. DSO will hold the remainder of the joint venture, it said.
“The JVCo also intends to tap on emerging new space technologies to pursue potential business opportunities for low cost small satellites, or smallsat constellation design, development, manufacturing and operation,” the filing said.
New technology allows faster development and launch of lower-cost, reliable high-resolution small satellite constellations, which makes large volumes of satellite imagery easily available, the statement said.
Singh said there were “vast opportunities” for commercial applications in the smallsat constellation segment.
That included remote detection of real-time changes at infrastructure development projects, ship movements for marine safety and precision agriculture mapping for better yield and sustainability, the statement said.