Montréal’s NorthStar is helping a division of Canada’s air force track threats in space ahead of its anticipated public offering this fall.
The news: The space tech company, founded in 2015, announced an agreement today with the Royal Canadian Air Force’s 3 Canadian Space Division (3 CSD) worth more than $40 million CAD over 12 months.
NorthStar will provide surveillance capabilities, which include a network of space sensors, to help the Royal Canadian Air Force (RCAF) monitor objects in orbit and detect threats. The company processes millions of images and observations in space, then feeds 3 CSD information on the location of objects and where they might go next.
From the source: “Our decisional advantage in both peacetime and conflict is built upon our ability to detect and differentiate threats from the responsible actors in space,” RCAF brigadier-general Christopher Horner said in a statement today, adding that NorthStar’s tech helps Canada achieve that.
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Following the thread: This fall, NorthStar plans to go public on the New York Stock Exchange via a merger with special purpose acquisition company Viking Acquisition Corp. The deal would value the company at $300 million USD ($422 million CAD). CEO Stewart Bain said in April that going public would give NorthStar, which has raised $100 million USD from investors, “unprecedented access to capital” to scale its operations. Other Canadian aerospace public companies include large government contractor MDA Space, listed on the Toronto Stock Exchange, and the earlier-stage Maritime Launch Services, listed on the Cboe Canada Exchange.
Final thought: Canada has put new emphasis on securing sovereignty in space—a need NorthStar appears to be addressing. Space tech founders, such as Wyvern’s Chris Robson, have said the industry is inextricably linked to defence. But while the feds have announced new funding for sovereign space launches, they have cancelled the Canadian Lunar Rover program and are cutting funding to the Canadian Space Agency.
Feature image courtesy NorthStar.