RICHMOND, B.C - MDA, a Maxar company (NYSE: MAXR) (TSX: MAXR), announced today its partnership in a network team led by Alberta Innovates that was selected by the Government of Canada for a Strategic Innovation Fund (SIF) investment. The Canadian Agri-Food Automation and Intelligence Network (CAAIN) will bring technology and agri-food companies together with academic partners to create new solutions that improve competitiveness and drive growth in both the agriculture and technology sectors.
The SIF investment, totalling CAD $49.5 million over five years, was announced on July 22 in Edmonton by Natural Resources Minister Amarjeet Sohi, on behalf of Innovation, Science and Economic Development Minister Navdeep Bains.
"MDA is excited for this opportunity to co-invest together with our partners and the Government of Canada to drive innovation in the agri-food sector, particularly in relation to artificial intelligence and emerging sensor technologies,” said Mike Greenley, group president of MDA. “We look forward to working collaboratively with a broad ecosystem of Canadian industry and academic partners to advance state-of-the-art technologies.”
Within the network, MDA will conduct a program of research and technology development to advance enabling Artificial Intelligence (AI) technologies with applications in the agriculture sector. MDA will also advance core data collection and data management technologies that use multiple sensor types, including hyperspectral imaging. In cooperation with its network partners, MDA will field the core AI and data technologies in a series of information service demonstrations, including those targeted at applications related to precision farming and supply chain management.
The CAAIN network is committed to selecting projects through transparent competitive processes. Administration of projects and the CAAIN network will be provided by Alberta Innovates. Project-based matching industry funding will ensure that projects are directed at developing solutions for opportunities and challenges facing the agri-food sector in Canada.
MDA is an internationally recognized leader in space robotics, space sensors, satellite payloads, antennas and subsystems, surveillance and intelligence systems, defense and maritime systems, and geospatial radar imagery. MDA's extensive space expertise and heritage translates into mission-critical defence and commercial applications that include multi-platform command, control and surveillance systems, aeronautical information systems, land administration systems and terrestrial robotics. MDA is also a leading supplier of actionable mission-critical information and insights derived from multiple data sources. Founded in 1969, MDA is recognized as one of Canada's most successful technology ventures with locations in Richmond, Ottawa, Brampton, Montreal, Halifax and the United Kingdom. For more information, visit www.mdacorporation.com.
About Maxar Technologies
As a global leader of advanced space technology solutions, Maxar is at the nexus of the new space economy, developing and sustaining the infrastructure and delivering the information, services, systems that unlock the promise of space for commercial and government markets. The operations of DigitalGlobe, SSL and Radiant Solutions were unified under the Maxar brand in February; MDA continues to operate as an independent business unit within the Maxar organization. As a trusted partner with 5,900 employees in over 30 global locations, Maxar provides vertically integrated capabilities and expertise including satellites, Earth imagery, robotics, geospatial data and analytics to help customers anticipate and address their most complex mission-critical challenges with confidence. Every day, billions of people rely on Maxar to communicate, share information and data, and deliver insights that Build a Better World. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com.
Certain statements and other information included in this release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws. Statements including words such as "may", "will", "could", "should", "would", "plan", "potential", "intend", "anticipate", "believe", "estimate" or "expect" and other words, terms and phrases of similar meaning are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties, as well as other statements referring to or including forward-looking information included in this presentation.
Forward-looking statements are subject to various risks and uncertainties which could cause actual results to differ materially from the anticipated results or expectations expressed in this presentation. As a result, although management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The risks that could cause actual results to differ materially from current expectations include, but are not limited to, the risk factors and other disclosures about the Company and its business included in the Company's continuous disclosure materials filed from time to time with U.S. securities and Canadian regulatory authorities, which are available online under the Company's EDGAR profile at www.sec.gov, under the Company's SEDAR profile at www.sedar.com or on the Company's website at www.maxar.com.
The forward-looking statements contained in this release are expressly qualified in their entirety by the foregoing cautionary statements. All such forward-looking statements are based upon data available as of the date of this presentation or other specified date and speak only as of such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this presentation as a result of new information or future events, except as may be required under applicable securities legislation.