UrtheCast (T.UR) temporarily stows Space Station cameras – gains 9%

Gaalen Engen Gaalen Engen, Stockhouse.com
0 Comments| December 30, 2013

UrtheCast (TSX:UR, StockForum), a Vancouver-based developer of high-definition streaming video and imaging of Earth from space, announced today that astronauts at the International Space Station had successfully installed the company's two Earth observation cameras on the International Space Station (“ISS”), but discovered that they were unable to confirm that the imaging units were receiving power from the ISS.


According to the news release, Russian cosmonauts were able to transport and install both units without issue. Not long after, Mission Control Centre (“MCC”), located just outside of Moscow, noted that they weren't receiving any data from either camera, even though the opposite had been reported during the live transmission of the spacewalk.


Engineers at the MCC were concerned that without that information they would not be able to confirm that the units were receiving enough power to allow them to endure the wild temperature fluctuations experienced in space.


Both UrtheCast technical personnel and RSC Energia, UrtheCast's Russian partner, decided to remove the cameras from their mounts, as a safety precaution, until matters are corrected. It is expected that the company will provide an information update and announce the re-scheduled space walk by the middle of January.


Company execs firmly believe that this event will have little or no effect on its 2014 business strategy.


UrtheCast CTO, Dr. George Tyc, explained, “The fact that neither camera could communicate with the MCC strongly suggests that the problem lies inside the ISS and it is not a problem with the cameras or external cables.”


Dr. Tyc detailed further, “This kind of issue has been encountered before on the ISS and can be fixed in the near-term.”


He then concluded, “Bringing the cameras back inside to be installed another day was simply the right engineering decision.”


UrtheCast made headlines recently when the company closed $10.0 in bought-deal financing in the middle of December.


Shares climbed 9.47% to $2.08 per share on the news.


Currently there are 62.8m shares outstanding with a market cap of $130.7 million.

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