The pilot projects, awarded grants of up to £400,000 each, will trial new solutions that use satellite data and services to support transport, logistics and financial services.
The trials will combine terrestrial data and technology (including AI, quantum, machine learning and geospatial data) with satellite data and services, and provide deeper analysis to develop insights and present new solutions to UK customers.
One project with Sports City Management Company aims to enhance visitor travel to the Etihad Campus, home to Manchester City Football Club’s Etihad Stadium and the Co-op Live arena, by reducing congestion and increasing the sustainability of travel to the venue.
According to UKSA, the project will support the development of an AI-enabled travel demand solution, using satellite data from the European Space Agency’s Copernicus Open Access Hub and Sentinel satellites, to predict patterns in the travel of music and sports fans at major events.
Coupled with machine learning, this provides transport operators and event planners with insight into congestion points, public transport requirements and crowd flow. This will be tested in a partnership with Transport for Greater Manchester (TfGM).
Similarly, Octopus Investments has partnered with Treeconomy, a company that uses AI and remote sensing to measure the impact of nature restoration projects. This project will use satellite-based Earth observation data sources including Landsat and Sentinel-2, plus AI and localised drone-based data, to support the monitoring and evaluation of nature projects and a suite of core environmental metrics to inform investment decisions.
“We have a fast-growing space sector in the UK but for too long we have struggled to tap the huge potential of satellite data to drive positive change in the real world,” Department of Science, Innovation and Technology (DSIT) minister Chris Byrant said in a statement. “These new projects seek to unlock this potential by combining data from space with cutting-edge technologies here on Earth.”
Unlocking Space for Business is delivered by the UKSA to foster innovation by combining satellite data and services with other data sources and technology, to drive benefits for businesses. This could include new revenue growth, operational efficiencies and environmental, social and governance (ESG) benefits.
Dr Craig Brown, investment director at the UK Space Agency, said: “Unlocking Space for Business is set up to identify and help tackle barriers facing organisations that have not traditionally used satellite data or services, or considered how space can benefit their bottom line.
“From AI-powered satellite-derived climate models to maritime incident avoidance and easier football fan travel, these projects will help accelerate innovation and investment, and showcase the untapped potential of space data to support a range of UK industries.”
The following organisations have also been awarded grants under the Unlocking Space for Business grant call:
Admiral Group Plc - Assessing subsidence-related insurance claims risk using satellite radar.
Use SAR satellite data to form an assessment of subsidence claims risk, to better understand the subsidence risk of given areas of the country and offer more competitive pricing to customers.
Citigroup - Measuring Nature-Related Footprint: Corporate Impacts and Risks Quantified
In partnership with Earth Blox, develop a market-leading geospatial and satellite data tool that enables a systematic and facility-level screening of corporate nature-related impact and dependency across multiple sectors and geographies.
Equitix Limited - Renewable energy resilience powered by satellite-derived climate models
In partnership with climate modelling experts Sust Global, research and develop AI-powered, satellite-derived forward-looking climate models to understand how changing wind resources may impact wind asset operational and financial performance.
Foresight Group - Advancing Satellite-derived Insights for Nature and Climate Management and Disclosure
Development of Frontierra’s nature and climate reporting platform, assessing 600 assets to enhance their nature and climate-related risk management and associated reporting to bolster decision making capabilities and improve ESG outcomes.
Level E Research Limited - AI Risk Index (AIRi)
Develop an AI Risk Index to assess the impact of potential environmental events on an investment, to enhance decision processes and increase overall operational efficiency.
Safe Earth Solutions Ltd - Accelerating adoption of nature-related financial derivatives using Earth Observation data
Financial services product development underpinned by their AI-powered Nature Valuation and Monitoring Platform to unlock new derivatives and investment into nature credits in pursuit of net zero and ESG goals.
Shipping Strategy Ltd - Risk Scoring for Maritime Hull and Machinery Insurance
Utilise Morphing’s AI’s software to identify short-term risk factors of maritime incidents, by combining satellite data from AAC Clyde Space with contextual commercial and ship technical data, and historical marine casualty data.
WieldMore Investment Management Limited - CERES – Comprehensive Environmental Risk Evaluation System
Integrate satellite data with financial models to assess the impact of climate and nature risks on manufacturing, energy and agriculture sectors.
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