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Ibadan, 1 December 2022. – Kayhan Space, a leading provider of spaceflight safety solutions, has announced receipt of the largest in the latest series of advanced industry grants from the Colorado Office of Economic Development and International Trade (OEDIT). The award is to accelerate the development of coordinated autonomous satellite collision avoidance capabilities for its Pathfinder Max software platform. As a result, Kayhan Space received a $500,000 early stage and retention grant to enhance the Pathfinder solution. The solution’s design enables satellite operators to better manage operational risks and make preemptive maneuvers based on precision analytics to avoid pileups in space.
Colorado’s OEDIT Accelerator Program awarded 40 grants worth nearly $10 million in all to help promote the growth and sustainability of advanced industries throughout the state by driving innovation, commercialization, and public-private partnerships.
Advanced Industries Senior Manager Rama Haris said that the advanced industries were key drivers of the Colorado economy. Haris noted that they account for nearly 30% of the state’s total wage earnings, around 30% of total sales revenue, and almost 35% of the state’s total exports. Furthermore, Haris added, “these 40 recipients represent the future of those industries. By supporting their development, we are boosting Colorado’s strong economy and supporting the development of technologies that can change the world for the better.”
Siamak Hesar, Kayhan Space co-founder and CEO, also expressed the Company’s thrill and honor for earning the “important grant from our home state of Colorado.” Hesar noted that the grant will drive investments in the state and accelerate innovations in Kayhan’s spaceflight safety platform. This, Hesar added, will enable the overall accessibility and sustainability of space.
Hesar also noted that “Kayhan Space is already providing a spectrum of spaceflight safety services to many of the world’s leading satellite operators running hundreds of satellites on our Pathfinder platform in multiple orbits around the Earth, and these funds will allow us to intensify our mission of making space safe.”
The Advanced Industries Accelerator Program received nearly 100 grant applications, which it reviewed in a multi-state process by committees of business, technical and financial experts in seven advanced industries. Furthermore, the Economic Development Commission approved the final grant award recommendations in November.
