The Innovation Academy for Microsatellites of Chinese Academy of Sciences and the Shandong Institutes of Industrial Technology signed a carbon satellite project agreement on March 9.

The project is supported by Jinan Start-up Area for Growth Drivers Transformation. Its initial phase will result in the production of 11 carbon satellites that will be used to track carbon emissions from companies. By the beginning of next year, the first satellite is expected to be launched.

According to officials, the project will aid in the integration of upstream and downstream resources in the aerospace information industry chain, the cultivation of leading companies in the area, and the promotion of high-end equipment production and aerospace new materials research. It is estimated to have an annual output value of 1 billion yuan ($157.5 million) after completion.