SYDNEY, AUSTRALIA: Vection Technologies announced the execution of a first revenue generative agreement for the development of Virtual Reality (VR) gaming, educational and scientific content to promote the space travel market and educate the next generation: a VR interactive exhibition and a VR game.

This agreement follows on from the memorandum of understanding executed with Thales Alenia Space, Next One Film Group and ALTEC, where Vection Technologies has been appointed as exclusive provider of VR and metaverse technologies.

Vection Technologies has executed a ~ $0.4 million agreement with Next One Film Group to develop Virtual Reality (VR) gaming, scientific and education content to promote space travel and educate the next generation.

The VR -based game will allow both astronauts and future space tourists to experience the conditions of inspace flight missions. Users will learn and experience environmental space conditions in life-like scenarios through virtual reality: on the moon, on mars and on the International Space Station (ISS).

The VR interactive exhibition content, conceived by Next One Film Group, will enable users to travel to the moon, mars and the ISS and discover space within a fully immersive environment, and specifically:

• The discovery and knowledge of space objects.

• How to survive in the Martian environment.

• Discovering lunar resources.

• Discovering the international space station (ISS)

This VR -based educational content will be distributed through the Lunar City platform and form integral part of the content available through the platform.

The development of the content will commence immediately and will be delivered by the end of the fiscal year. Subsequent agreements and or extensions of the solutions, aligned with the terms of MoU are in the process of being negotiated by the parties.

On 25 January 2023, the Company announced the execution of an MoU with Thales Alenia Space, Next One Film Group and ALTEC. The initial objective of the MoU is to capture video imaging data from cameras and sensors onboard space modules and spacecrafts, and transfer the captured video imaging data to ground, for immersive Virtual Reality visualisation by users through a dedicated metaverse platform called Lunar City.

While the final objective of this MoU is to capture and showcase the exceptionality of the Artemis lunar program via innovative multimedia technologies like virtual reality (VR), the Parties intend to test the technology and commercial opportunities on current space missions with commercial space companies.

Lunar City, through its flagship project called Travel Space Real Time (TSRT), will allow the public to “reach space” in real-time with the actual space journey from a unique window into a fully immersive virtual reality experience; and to watch live experiments from space and train astronauts and space tourists.

The space missions captured under the TSRT (Travel Space Real Time) will be distributed exclusively through the Lunar city platform.

The preliminary technical implementation of the concept onboard spacecrafts has been initially developed by Next One Film Group and Thales Alenia Space.