HONG KONG, Aug. 15, 2024 /PRNewswire/ -- USPACE Technology Group Limited ("USPACE " or "the Group"; Stock Code: 1725.HK) is pleased to announce that the Group has signed the strategic partnership agreement with the Egyptian Space Agency ("EgSA"), in relation to satellite manufacturing and testing, satellite launch, education and training, greatly expanding its business presence in the fast-growing African space market.

USPACE and EgSA also intend to set up a joint venture in Cairo, Egypt, which will be one of the first commercialised aerospace companies in Egypt, marking a significant milestone in the Group's aerospace business development in the Africa region. USPACE and EgSA's collaboration encompasses a wide range of initiatives, including the establishment of centers for satellite manufacturing, payload design and manufacturing, and component and precision manufacturing at the Egyptian Space City in Cairo Egypt. They will also establish an integrated satellite constellation for remote sensing and communication across the African continent, based at the Egyptian Space City, and a globally oriented space laboratory in Cairo. Furthermore, the partnership will establish comprehensive cooperation in space technology, encompassing design, programming, component and subsystem manufacturing, space payload development (electro-optical, radar, and communication), and satellite assembly, integration, and testing.

Established in January 2018, EgSA is headquartered in the Egyptian Space City, which is also the headquarters of the African Space Agency. EgSA is an Egyptian government organization that aims to acquire space technology and satellite launch capabilities to achieve the goals of the national sustainable development strategy "Egypt-SDS2030".

In particular, the cooperation under the Strategic Partnership Agreement will allow USPACE to utilise EgSA's existing aerospace technologies, facilities and infrastructures, including satellite manufacturing plants and facilities at the Egyptian Space City, and to gain access to EgSA's established network with governmental space agencies in the region as the host of the African Space Agency, creating new collaboration opportunities with other market players and governmental agencies and further consolidating its position in the Africa continent.

USPACE's globalization strategy continues to make substantial progress. The Company is gradually building a complete aerospace ecosystem, while innovating and creating core satellite products.