10:56:37 EDT Wed 15 May 2024
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MDA Ltd
Symbol MDA
Shares Issued 119,402,727
Close 2023-06-28 C$ 8.19
Market Cap C$ 977,908,334
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MDA to help feds reel in bad actors at sea

2023-06-29 10:33 ET - News Release

Mr. Mike Greenley reports

MDA AWARDED GOVERNMENT OF CANADA CONTRACT TO HELP IN THE FIGHT AGAINST ILLEGAL FISHING

MDA Ltd. has won a two-year contract with up to three optional years with the government of Canada, through the Department of Fisheries and Oceans (DFO), to help counter illegal, unregulated and unreported (IUU) fishing in the Indo-Pacific region.

According to the United Nations, illegal fishing is the planet's sixth-largest crime. The Indo-Pacific region is home to the majority of the world's coral reefs and includes the largest diversity of fish. MDA's Maritime Insights platform, which leverages MDA's world-renowned RADARSAT-2 synthetic aperture radar, combines multiple satellite data sources to track and identify IUU fishing activity, including dark-vessel detection. Together, they can see hundreds of kilometres in a single image, day or night and through all weather conditions, creating a powerful asset for combating IUU fishing.

"Our ocean surfaces are enormous and incredibly hard to monitor, giving those who seek to perpetrate crime on the water confidence that they will be undetected," said Mike Greenley, chief executive officer of MDA. "Space-based Earth observation gives us a valuable vantage point to see what we can't on the ground or from the water to help break that cycle. We are proud to support the government of Canada and other nations with MDA data and insights to help combat the illegal activity that is putting our ocean ecosystems at risk."

MDA is an active participant in the fight against IUU fishing, providing near-real-time monitoring, data and insight of fishing activity to nations through the government of Canada. It works with DFO and international fisheries agencies to provide actionable maritime intelligence data that addresses dark-vessel detection and supports maritime enforcement initiatives. The government of Canada has been using MDA technology in support of the government of Ecuador to monitor the protected ocean ecosystems surrounding the Galapagos Islands since 2021.

"Detecting, tracking and intercepting vessels engaged in IUU fishing will help protect the world's ocean ecosystems and the livelihoods of law-abiding fish harvesters worldwide and here in Canada. This will support the protection of biodiversity throughout the Indo-Pacific region from threats of IUU fishing," said Joyce Murray, Minister of Fisheries, Oceans and the Canadian Coast Guard.

About MDA Ltd.

Serving the world from its Canadian home and global offices, MDA is an international space mission partner and a robotics, satellite systems and geointelligence pioneer with a 50-year story of firsts on and above the Earth. With over 2,700 employees across Canada, the United States and the United Kingdom, MDA is leading the charge toward viable Moon colonies, enhanced Earth observation and communication in a hyperconnected world. With a record of making space ambitions come true, MDA enables highly skilled people to continually push boundaries, tackle big challenges, and imagine solutions that inspire and endure to change the world for the better, on the ground and in the stars.

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