Late in May, Intermap Technologies Corp. (TSX:IMP)(OTCPK:ITMSF) disclosed a $3.1-million task order for airborne mapping services from an unnamed customer. Work started in June with Intermap utilizing its proprietary airborne sensor technology, Interferometric Synthetic Aperture Radar (IFSAR), to collect orthorectified radar imagery and high resolution elevation data to enhance the customer's existing geospatial map database.
The data is useful in disaster planning, resource management, security and infrastructure planning, amongst other things.
Earlier this month, Intermap let the cat out of the bag that the customer was the U.S. government, while adding that the task order was increased by more than 100%. The Denver-based company was awarded a $3.3-million contract extension to upgrade its 3-D digital elevation model into a new, void-free collection, provisioning and editing of elevation and image layers into a contiguous, wide area, high resolution geospatial foundation.
The government award wasn't exactly a huge surprise given the fact that Intermap has been working on this program for seven years to the tune of more than $25 million in orders. Across that time, Intermap has delivered geospatial 3-D infrastructure covering more than one million square kilometers.
That total revenue just got a little bigger on Wednesday, with Intermap saying that another $800,000 expansion to the task order has been received.
In other happenings, Intermap said it collected radar imagery and generated flood extents for Harris County, Texas following Hurricane Harvey assailing the east side of the state last month. Intermap is providing the data to help people and businesses alike better understand the risk of flooding in specific areas to be best prepared in the future.
Shares of Toronto-listed IMP are trading ahead by 7.1% at 7.5 cents, giving the company a market capitalization of $12.3 million.
