Vancouver's UrtheCast gets $17.6M from feds for Earth observation technology
High-resolution images can be used for disaster management, forestry, agriculture, says company
A Vancouver company that takes highly detailed pictures of Earth from space received a $17.6-million investment from the Canadian government Tuesday.
The company, UrtheCast, will use the money to develop "patented, cutting-edge technology" that equips a group of satellites for Earth observation and to make the high-resolution images easier for its customers to use, said president Wade Larson.
"It's really about the latest and greatest when it comes to to imagery, and also the data that will come from that," said Minister of Innovation, Science and Economic Development Navdeep Bains, who announced the funding in Vancouver Tuesday.
Larson said the images can be used in a variety of ways, including disaster management after an earthquake, monitoring crops or forests or observing a remote coastline.
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The money comes from the Strategic Aerospace and Defence Initiative, which was launched in 2007 and provides repayable contributions to for-profit companies.
UrtheCast was founded in 2012 and was last year named the fastest growing technology company in Canada by Deloitte, with more than 250 employees.