07:53:43 EDT Tue 24 May 2022
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Intermap Technologies Corp
Symbol IMP
Shares Issued 91,782,665
Close 2015-06-22 C$ 0.065
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Intermap consortium wins contract for SDI program

2015-06-22 18:01 ET - News Release

Mr. Rich Mohr reports

INTERMAP ANNOUNCES LETTER OF AWARD FOR ORION PLATFORM IMPLEMENTATION PROGRAM VALUED AT GREATER THAN $125 MILLION

A consortium led by Intermap Technologies Corp. has been issued with a governmental letter of award for the creation, operation and maintenance of a national spatial data infrastructure (SDI) program. The scope of work for the initial two-year SDI implementation phase is valued at greater than $125-million, with product delivery expected to commence during the third quarter of 2015. The company will also provide an operation and maintenance module valued at greater than $50-million for an additional 18-year period. The 20-year SDI program is administered within a public-private-partnership (PPP) framework under a build-operate-transfer (BOT) model, with the company serving as the prime contractor, on a turnkey basis.

The award is the result of a competitive tender process during which the company demonstrated the enabling versatility of its proprietary Orion platform, the industry's first software-driven, big-data geospatial analytics platform, capable of delivering customized solutions, at scale, to governments and commercial enterprises across multiple verticals from one unified control point. The Orion platform was launched on June 19, 2013, and is based on the company's proprietary software, data, airborne radar collection and data fusion technologies.

The sovereign client intends to use the Orion platform for the planning, development and management of national interests, including natural resource exploration and production, environmental protection, land administration, telecommunication, transportation and power networks, defence, and homeland security. The SDI program will include nationwide data acquisition, utilizing the company's proprietary interferometric synthetic aperture radar (IFSAR) technology, alongside satellite imagery and selective light detection and ranging (Lidar) coverage.

"We are pleased to report that our three-year investment in the development of the Orion platform has led to the largest SDI award in the company's history," said Todd Oseth, president and chief executive officer of Intermap Technologies. "We believe that this win will catalyze other large Orion platform government implementations, one of which is already at an advanced stage, as well as promote the company's location-based, platform-as-a-service (PaaS) and software-as-a-service (SaaS) product offerings for the enterprise sector."

The award is subject to the entry into definitive agreements giving effect to the tender terms and conditions, including, without limitation, a project finance facility agreement, and is expected to close during the third quarter of 2015.

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