NordSpace is once again expanding the scope of its business by announcing it had created a new Ventures division and making an investment in Edmonton-based Wyvern, an Earth Observation company with a small fleet of hyperspectral imaging small satellites.
NordSpace Ventures is looking to make investments in Canadian “space, defence, and dual-use technology companies.” The company said it has already “been actively investing over the past year and will announce additional portfolio companies in the months ahead.”
NordSpace, a private company, did not release the size of its investment in Wyvern nor how much capital it was making available through its Ventures division.
Rahul Goel, Founder and CEO of NordSpace said in a news release, “For too long, Canada’s most promising space and defence companies have had to look outside our borders for capital, customers, and credibility. NordSpace Ventures changes that equation. We are putting Canadian capital to work in Canadian companies building critical capabilities for our national security and economic future. This is about more than financial returns. It is about ensuring that the technologies Canada needs for true sovereignty are developed, owned, and scaled here at home.”
Chris Robson, Co-Founder and CEO of Wyvern added, “We are thrilled to have NordSpace as a strategic investor and partner. NordSpace’s vision for a fully sovereign Canadian space ecosystem aligns perfectly with what we are building at Wyvern. Their investment is a strong signal that Canadian companies are stepping up to support one another, and that the infrastructure to launch, operate, and scale Canadian space missions is being built right here at home.”
“Hyperspectral is the missing piece of Canada’s intelligence picture. Our satellites see what conventional sensors can’t, from identifying threats in contested environments to monitoring port activity and protecting critical infrastructure from wildfire.”
Wyvern’s hyperspectral data is used by customers in defence, agriculture, forestry, mining, energy, and environmental monitoring.
In the last year NordSpace began construction at its Atlantic Spaceport Complex, announced its SHARP Supersonic and Hypersonic platform, signed a Memorandum of Understanding with C-CORE to develop new ground stations across Canada, opened a new Advanced Manufacturing for Aerospace Lab (AMA Lab), and recently announced its Space Systems Lab.
The company will once again host the Canadian Space Launch Conference on May 5 in Ottawa. And after trying but not succeeding in getting its first suborbital launch completed last September, the company previously said it would try again this spring.
Editor’s note: NordSpace CEO Rahul Goel said the company is looking to invest $2 million per year through is new Ventures division.