The centre is a part of King Mongkut’s Institute of Technology Ladkrabang (KMITL).
Terospace is a spacecraft start-up created by KMITL's alumni, while SVI is an electronic products manufacturer.
Settapong said that the collaboration represents yet another significant milestone for Thailand's space sector since it would enhance both the knowledge and technology that the country has in this field.
The partnership intends to strengthen the centre’s relation with its allies while also advancing space technology and services, such as the more precise assessment of landscape imagery from satellites, he said.
He added that with the development of satellite photography, environmental issues, namely forest fires, pollution, and climate change, might be accurately assessed, predicted, and resolved.
Thailand is working to establish itself as the South East Asian region's hub for space development, with the capacity to build its own satellites and operate a spaceport, Settapong said.
He said that government and corporates have to work together to keep up with the rapid evolution of technology so that could be a leader in the field of space exploration.
“The issue of space is not far from our home,” he emphasised.