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Abu Dhabi, UAE: Thuraya Telecommunications Company, the mobility arm of the UAE’s flagship satellite solutions provider, Al Yah Satellite Communications Company PJSC (ADX trading symbol: YAHSAT), has signed a Memorandum of Understanding (MoU) with nybl, a leading Artificial Intelligence (AI) and Machine Learning (ML) platform with headquarters in the UAE. The agreement sets out the framework for introducing AI and ML-driven solutions over Thuraya and Yahsat satellites, marking a groundbreaking leap for the satellite communication industry.
nybl provides various AI and ML sector-specific modules, including Oil and Gas, Security and Surveillance, with robust support for Environmental, Social, and Governance (ESG) initiatives. Under the MoU both parties will focus on testing, certifying, and enabling the nybl platform over Thuraya and Yahsat satellites. The aim is to make these cutting-edge technologies available to end-users through an extensive partner network. This will further diversify Thuraya's portfolio of solutions through advanced technologies and reaffirm its drive for innovation.
Sulaiman Al Ali, Chief Commercial Officer (CCO) of Yahsat, said: "We are thrilled to embark on this transformative journey with nybl. Thuraya’s focus on innovation and the deployment of AI/ML-driven solutions dovetails seamlessly with our vision of delivering pioneering technology and enhancing our satellite communication offerings for our valued customers across the world. This collaboration positions Thuraya as one of the first AI-driven end-user solutions’ providers in the satellite communication industry, reinforcing its commitment to shaping the future of space industry innovation. In such a fast-paced and rapidly evolving field it is the first of many exciting new announcements to come from Thuraya."
Noor Alnahhas, nybl’s Founder and Chief Executive Officer, said: “nybl is a movement, and as we move towards each industry to introduce the impact of leveraging AI, we recognize the significance of Thuraya positioning itself as one of the first AI-driven end-user solutions provider in the satellite communication industry, enabled by nybl’s platform. This is precisely what nybl’s vision is about: Empowering the largest companies to leverage AI by democratizing our technology. This partnership demonstrates our commitment to enabling AI solutions and access to the most innovative technologies. Together, we plan to continue our promise of making the world a better, safer, more connected, and more accessible place."
About Yahsat
Al Yah Satellite Communications Company PJSC (Yahsat) is a public company listed on the Abu Dhabi Securities Exchange (ADX) and a subsidiary of Mubadala Investment Company PJSC, offering multi-mission satellite services in more than 150 countries across Europe, the Middle East, Africa, South America, Asia and Australasia.
Yahsat’s fleet of 5 satellites reaches more than 80% of the world’s population, enabling critical communications including broadband, broadcasting, backhauling and mobility solutions. Based out of Abu Dhabi in the UAE, Yahsat provides C, Ku, Ka and L-band satellite communications solutions for land, maritime and aero platforms to consumers, governments and enterprises. Its businesses consist of Yahsat Government Solutions, Thuraya, YahClick (powered by Hughes) and YahLink. Yahsat also participates in Hughes do Brasil, an equity partnership with Hughes, and Yahlive, an equity partnership with SES. In 2020, Yahsat commenced construction of Thuraya 4-NGS, the next generation telecommunications system for Thuraya, which is scheduled for launch in H1 2024 and expected to commence services in H1 2025.
For more information, visit: www.yahsat.com; Follow us on Twitter: @YahsatOfficial
Legal Notice
Neither this announcement nor anything contained herein constitutes a financial promotion, or an invitation or inducement to acquire or sell securities in any jurisdiction.
For investor enquiries, please contact: ir@yahsat.ae
For media enquiries, please contact: corporatecomms@yahsat.ae; yahsat@hkstrategies.com
About Thuraya Telecommunications Company
Established in 1997, Thuraya offers innovative communications solutions to a variety of sectors including maritime, energy, government, broadcast media, military, aerospace and humanitarian NGO. Thuraya’s superior network enables clear communications and uninterrupted coverage across two-thirds of the globe by MSS, global VSAT coverage and around the world through its unique GSM roaming capabilities. The company’s diverse range of technologically advanced and dependable mobile satellite handsets and broadband devices provide ease of use, value, quality and efficiency. Through relevant partnerships, Thuraya stays ahead by delivering solutions and supporting applications that meet the rapidly transforming nature of market demands. Thuraya remains committed to keeping everyone within reach in any circumstance by making accessible the essential tools required for vital connectivity.
For more information, visit www.thuraya.com; Follow us on Twitter: @ThurayaTelecom
About nybl
nybl is a deep-tech development company with a mission to develop and export technology and innovation from Saudi Arabia and UAE to the rest of the world. nybl’s technology focuses on delivering real-time failure prediction, prescription, prevention, and optimization, increasing efficiency, and reducing costs for critical industries and challenges facing humanity. The power of nybl’s Ai is that it solves challenges by helping brilliant people address our most pressing humanitarian, energy, scientific and sustainability challenges.
The vision at nybl is to democratize Ai - building a world in which, together we can unlock the full depth and breadth of human potential. This is achieved with nybl’s suite of Ai applications, a world-class ML framework, and Ai platform, and with the aim of transforming data into actionable intelligence.
To learn more about nybl, visit us at www.nybl.ai
Legal Notice and Cautionary statement regarding forward-looking information
This announcement includes forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, words such as "expect", "will", "looking ahead" and any other words and terms of similar meaning. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and its investments, and speak only as at the date of this announcement. Forward-looking statements are based on assumptions of future events and information currently available to the Company which may not prove to be accurate and the Company does not accept any responsibility for the accuracy or fairness thereof and expressly disclaims any obligation to update any such forward looking statement. No representation or warranty is made that any forward-looking statement will come to pass. You are therefore cautioned not to place any undue reliance on forward-looking statements. For further information regarding forward-looking statements, and the factors that may cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements please refer to our Annual Report for 2021, which is available on our website at https://www.yahsat.com/Reports/2022/index.html
The amount and payment of dividends by the Group is subject to consideration by the Board of Directors of the cash management requirements of the Group for operating expenses, interest expense, and anticipated capital expenditures, and market conditions, the then current operating environment in its markets, and the Board of Directors’ outlook for the business of the Company. In addition, any level or payment of dividends will depend on, among other things, future profits and the business plan of the Company, as determined at the discretion of the Board of Directors.
Neither this announcement nor anything contained herein constitutes a financial promotion, or an invitation or inducement to acquire or sell securities in any jurisdiction.