Multi-million fund to unlock the power of satellite data

The UK Space Agency (UKSA) has invested £2.5m in 10 projects looking to tap into the potential of satellite data to help businesses be more environmentally conscious.

As part of the UKSA’s Unlocking Space for Business programme, each pilot project, of which three involve Scottish businesses, will receive up to £400,000 to support transport, logistics and financial services. 

Projects will combine terrestrial data and technology, including artificial intelligence (AI) and quantum, with satellite data to provide a more in-depth analysis on how to boost sustainability across industries.  

Minister for data protection Chris Byrant said: “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. These new projects seek to unlock this potential by combining data from space with cutting-edge technologies here on Earth.” 

Edinburgh-based firm Level E Research Limited has secured funding to lead the development of an AI risk index. This tool will assess the impact of potential environmental events on investment, allowing for better decision-making and operational efficiency.  

And, Earth Blox, also based in Edinburgh, will co-develop with investment banking company CitiGroup a geospatial and satellite data tool that enables a facility level screening of corporate nature-related impacts.

Meanwhile, AAC Clyde Space, located in the Skypark building in Glasgow, will provide satellite data to maritime firm Shipping Strategy to help identify short-term risk factors for maritime incidents.  

Craig Brown, investment director at the UKSA, said: “These new grants and contracts are just some of the ways the UKSA is kickstarting growth and creating high-quality jobs to position the UK as a leading space economy.  

“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.” 

Another project, led by Manchester-based firm Sports City Management, looks to combine AI with data from the European Space Agency’s satellites to predict travel patterns for events at Etihad Campus, which is home to Manchester City’s Etihad Stadium, slashing congestion and boosting the sustainability of fan travel. 

Launched in 2023, the Unlocking Space for Business programme aims to foster innovation by combining satellite data and services with other data sources and technology , so businesses can grow revenue and unlock social and governance benefits.