BlackBridge unveils new mission, secures $22M

By on 27 May, 2014
Copyright © BlackBridge www.BlackBridge.com

RapidEye satellite image courtesy of BlackBridge.

 

RapidEye+ will offer enhanced capabilities, including very high resolution and super-spectral bands.

BlackBridge has released the details of its RapidEye+ constellation concept at its ENABLE 2014 Partner Conference. RapidEye+ will be a constellation of five satellites with an imaging capacity that will far exceed the current RapidEye constellation’s capacity of 5 million km2 per day.

Further to this, BlackBridge has secured $22 million (CDN) in funding from the Bank of Montreal (BMO) and the Business Development Bank of Canada (BDC) for the development of RapidEye+ and for the renewal of existing credit facilities.

The RapidEye+ superspectral system will include 14 bands strategically placed for applications in agriculture, vegetation monitoring, land cover discrimination, water quality, and many others. This band set also includes a panchromatic channel with resolution better than 1 metre.

RapidEye+ is expected to launch in 2019, allowing significant overlap with operation of the current RapidEye constellation.

“RapidEye+ will allow BlackBridge to address the growing high resolution imagery market, with an unmatched imaging capacity,” said CEO Ryan Johnson. “It also allows us to continue to serve and grow our core markets in agriculture, REDD, and environmental monitoring with enhanced capabilities.”

BlackBridge CFO Richard Goode says of the investment, “We are pleased that both BMO and BDC have joined us in the development of our next generation of satellites. We are seeking strong long-term partners as we continue to grow our business, and both BMO and BDC provided the financial strength and commitment we were looking for.”

Matthew Kellow, Managing Director, Subordinate Financing with BDC states, “BlackBridge is a dynamic, growth-oriented, and forward-thinking company that is a great example of the type of company we are looking to partner with over the long-term. We are excited about furthering our partnership with the company and the new business opportunities that will result from RapidEye+.”

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