NorthStar Earth & Space secures shareholder financing to accelerate commercial space-based SSA services

Beth Michelson joins as Chief Financial Officer as part of US Commercial growth strategy.

Montreal, July 15, 2024 – NorthStar Earth & Space, a privately held corporation with headquarters in Montreal and offices in Luxembourg and McLean, Virginia, has recently secured shareholder financing led by Telesystem Space which is a joint venture between Telesystem and the Rogers Private Companies. This financing will enable NorthStar to accelerate its product development activities related to its unique patented space-based Space Situational Awareness (SSA) Concept of Operations (CONOPS), which supports critical space security with the US Government and other allies.

The U.S. Government and its NATO allies require commercial space-based monitoring systems to detect potentially hostile activity against critical defense and intelligence assets in space. This requirement has taken on more urgency given geopolitical challenges in Space. NorthStar is the only company in the world to be issued a U.S. patent for its Concept of Operations with respect to locating, identifying, and tracking potential threats from space. The company is in patent process with additional innovative technologies.

Prior investment rounds include Telesystem Space, Investissement Quebec (IQ), Cartesian Capital Group, the Luxembourg Future Fund, and the Space Alliance (Thales Space and Telespazio). NorthStar has also received R&D funding from Luxembourg’s Lux Impulse and Canada’s Strategic Innovation Fund.

In addition, NorthStar is also pleased to announce Beth Michelson as Chief Financial Officer, bringing to the NorthStar team a depth of experience as a strategic financial leader who excels in managing company finances, driving growth, and developing long-term business strategies to foster sustainable success.

Beth Michelson is a Partner with Cartesian Capital Group, a New York City-based global private equity firm that has been an investor in NorthStar since December 2022. She has been with Cartesian since its inception in 2006 and has more than twenty years of experience building businesses globally. Prior to Cartesian, she was a subadvisor to AIG Capital Partners and an Associate at Wasserstein Perella. She has led investments and acquisitions across 20 countries.

In addition, to serving on the board of NorthStar, Ms. Michelson also serves on the board of Tiendamia, Thermal Management Solutions, Brilia, as well as the Global Advisory Board of Columbia Business School Chazen Institute for Global Business. Previously, Beth served as a director for Safeguard Scientifics (NASDAQ: SFE) and was also chair of its Audit Committee.

Ms. Michelson was selected as a 2019 92Y Women in Power Fellow. Beth has an MBA from Columbia University Graduate School of Business, a master’s degree in international affairs from Columbia University School of International and Public Affairs, and a BA with distinction from the University of Michigan. She is also a certified Chartered Financial Analyst.

About NorthStar:

NorthStar Earth & Space was founded in 2015 by Telesystem, based in Montreal, and KinetX, a specialized engineering firm located in Arizona. It has 70 employees, including 50 in Canada. NorthStar is the first commercial service to monitor near-Earth orbits from space.

NorthStar’s precise information services identify and anticipate the position of space objects to enhance spaceflight safety. With headquarters in Montreal, Canada, a European headquarters in Luxembourg, and a dedicated US operation in McLean, Virginia, NorthStar addresses the ever-growing threat of space collisions as a major contribution to empower humanity to preserve our planet.

For more information about NorthStar, visit www.northstar-data.com
For media inquiries, please contact ignacio.cires@northstar-data.com