Neo Space Group gets Saudi permit for EO service
Potential boost for Saudi GDP
Saudi Arabia’s Communications, Space and Technology Commission (CST) has granted Riyadh-headquartered Neo Space Group a permit to operate an Earth Observation (EO) platform service in the Arabian Gulf nation following an intensive bidding process conducted in April 20204 involving Saudi and regional space players.
The move marks a significant milestone in Saudi Arabia’s strategic efforts to boost its space sector and integrate advanced technologies into various facets of national development.
The permit bidding process was keenly contested, with Neo Space Group emerging victorious after meeting the stringent evaluation criteria set forth by CST.
The CST permit now allows the Public Investment Fund-affiliated Neo Space Group to establish and operate an electronic platform dedicated to collecting and processing EO data obtained from satellites. This includes monitoring natural terrains, environmental conditions, and weather patterns across Saudi Arabia and beyond.
In addition to its primary role in data collection and processing, the Nat Space Group EO platform will serve as a pivotal marketplace, a hub of innovation and economic growth, connecting EO data providers with entities specialising in value-added services.
This initiative aims to foster innovation and stimulate economic growth by developing bespoke space products that cater to diverse sectors such as agriculture, environment, logistics, and urban planning.
“The issuance of this permit underscores CST’s commitment to promoting space activities and attracting investments in Saudi Arabia’s burgeoning space sector,” said a CST spokesperson.
“This initiative aligns with our broader strategy to enhance Saudi Arabia’s global standing in space technology and stimulate economic diversification through advanced space capabilities.”
Stiff contest
The Saudi EO permit process received strong interest from industry players seeking to capitalise on the growing demand for EO services in Saudi Arabia and the surrounding Middle East region.
A company spokesperson noted that Neo Space Group’s selection underscores its capability to deliver robust EO solutions and contribute significantly to Saudi Arabia’s gross domestic product through innovative space-based applications.
Martijn Blanken was recently confirmed as the new CEO of Neo Space Group.
Blanken earlier served as CEO of EXA Infrastructure and played a pivotal role in its acquisition by I Squared Capital. He was also a key figure at Telstra Corporation,
Featured image: The primary role of the Neo Space Group’s EO platform will be in data collection and processing. Credit: NASA
