- The partnership was formalized by a MOU signed by Hasan Al Hosani, MD of Bayanat, Bill Sullivan, Chairman of HySpecIQ, and Anna Hazlett, CEO of AzurX;
- The collaboration will accelerate and enhance space expertise in the UAE and throughout the region;
- Partnership described as “clear sign of growing demand in remote sensing applications” by Bayanat’s MD, Hasan Al Hosani.
Abu Dhabi, UAE September 14, 2023 — HySpecIQ, a global leader in hyperspectral imaging and data analytics, today announced a partnership with Bayanat, an ADX-listed public company and leading provider of AI-powered geospatial solutions.
Hyperspectral imaging is a powerful technology that enables identification of objects from space. It takes advantage of the fact that all objects reflect light, both visible and beyond, in a unique fashion, essentially creating a spectral fingerprint which provides detailed information about the identity, composition, and characteristics of targeted objects. The relationship between HySpecIQ and Bayanat will support the creation of hyperspectral data applications as well as the development of systems that can combine hyperspectral with other geospatial data to produce high value insights.
With its expanding network of remote sensing data sources, Bayanat is an ideal partner for this complex undertaking. HySpecIQ will enable an unprecedented level of insight for customers in the UAE and throughout the region. The collaboration will explore establishing a Hyperspectral Centre of Excellence in the UAE to develop an ecosystem of hyperspectral imagery analysts, engineers, and managers as well as coordinate operations. These individuals will join the growing ranks of highly skilled Emiratis creating a cluster of space expertise in the UAE as stated in the strategic vision of the leadership.
Spaceborne hyperspectral imaging offers valuable information to many markets – defense and security, oil and gas, environmental, and agricultural. Bringing together the geospatial service experience of Bayanat with the hyperspectral expertise of HySpecIQ, and the commercial development expertise of AzurX, the partnership will explore the full range of solutions arising from this emerging capability, targeting high value use cases for a range of customers, and will develop effective strategies to maximize their potential.
The hyperspectral imaging systems market size was valued at over USD$16 Bln in 2022 and is projected to reach more than USD$47 Bln by 2032 backed by growing demand in remote sensing applications, increasing industrial applications of HSI, technological advancements in HSI and increasing government initiatives and funding globally. [Source: Global Market Insights]
AzurX, the United Arab Emirates’s leading space advisory firm, facilitated the partnership. Bayanat and AzurX are collaborating with the aim of enhancing the UAE’s space ecosystem capabilities and establishing global partnerships.
Hasan Al Hosani, MD of Bayanat commented:
“Bayanat continues to lead in providing innovative solutions from data acquired through advanced remote sensing capabilities. Hyperspectral imaging satellites will allow us to develop models that not only provide new and unique insight into the observable world but will allow us to enrich existing analytics with fused data. HySpecIQ will therefore complete our information picture and we look forward to working with our new partners towards the next generation of remote sensing.”
Bill Sullivan, Chairman of HySpecIQ said:
“Hyperspectral imaging is at the cutting edge of remote sensing technologies and the UAE, as it continues to deliver on its ambitious space strategy, represents the perfect partner in developing our capabilities further. We are excited to be working with Bayanat to realize innovative and disruptive solutions in earth observation and exquisite data analytics.”
Anna Hazlett, CEO of AzurX, said:
“It is AzurX’s mission to bring cutting-edge satellite and geospatial technologies to the UAE and wider region. We facilitated this important agreement between HySpecIQ and Bayanat, as it is our belief that hyperspectral imagery will provide revolutionary data analytics to a range of sectors such as defence, agricultural and environmental monitoring, as well as the commodity and insurance markets. HySpecIQ offers the most precise and advanced hyperspectral products in the market and this partnership with Bayanat, one of the most advanced geospatial companies in the world, will make for a powerful and game-changing combination.”
