Satellogic will collect high-resolution satellite imagery over all the Earth's forests until 2025. Derived biomass loss information will be shared publicly, and available to the global citizenry through www.programme.green in agreement with CC35 Capital Cities Secretariat and strategic institutional partners
NEW YORK--(BUSINESS WIRE)--Sep. 26, 2022--
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation (“EO”) data collection, today announced a contract to monitor all subnational protected areas on the planet through the new GREEN+ Jurisdictional Programme. The provision of reliable and consistent high-quality satellite data will be governed by the CC35 Capital Cities Secretariat, the Global Footprint Network and The Energy Coalition, among other respected stakeholders committed to conserving the Earth's “last lungs.”
This critical information will enable individuals, organizations, and global markets to accurately monitor the compliance of signatory jurisdictions to avoid deforestation. In light of this new program, which aims to monitor all global subnational areas by 2023 and will be presented at COP27, governments such as Nuevo León, a Mexican state, have committed to increase their protected areas to 30% to reach the United Nations’ 30x30 goal by 2030 and support the new Race to Conservation campaign.
"This important agreement will make critical information on the loss of our planet's biodiversity more widely accessible, and thus promote the development of solutions to reverse it. We are confident that our Earth Observation capabilities will help this program accelerate analysis and contribute to positive results for a more sustainable future," stated Emiliano Kargieman, CEO and Co-Founder of Satellogic.
Sebastian Navarro, Secretary General of CC35 said: "We will be relentless from the governance of the GREEN+ Program with those who want to continue playing with the future of humanity. Thanks to this robust agreement with Satellogic, the global citizenry will have access to real-time information on deforestation, its changes month-by-month, and the sources that are producing them. This will also generate unprecedented credibility among investors of the carbon credits produced by conservation, as it will produce a double circular target; half of the funds from conservation will go directly to decarbonization."
Mathis Wackernagel, creator of the ecological footprint and Founder of the Global Footprint Network added: “Clearly, regions and cities which do not prepare themselves for the inevitable future – one where we will live off conservation and regeneration rather than depletion – are destroying their own options to fully operate while also exacerbating overshoot. Without making the necessary adjustments which would allow them to thrive in a world of climate emergency, resource constraints, and massively reduced fossil fuel use, they are not only stealing from humanity’s future but also thwarting their own abilities to operate in that future. Decision-makers who ignore this reality are the enablers of the ecological Ponzi scheme by which future regeneration is stolen through the depletion of today’s natural capital.”
Craig Perkins, Executive Director of The Energy Coalition added: "There is an urgent need to understand the cycle between conservation and decarbonization if we are to successfully engage local communities in the transition to a new energy economy. The climate crisis is devastating our ecological capital and we must build programs and initiatives that are committed to ensuring it. We can count on Satellogic to enhance our processes for monitoring forests and under the GREEN+ Jurisdictional Programme also advance the future measurement of energy emissions in the most populated areas of the planet with the aim of achieving more robust and transparent processes."
From the GREEN Trust, Alejandro Guerrero, CEO of Lockton for Argentina & Uruguay added: “This exclusive collaboration with Satellogic guarantees the Program's governance to have and communicate a clear view for the markets on Risk & Prevention concerns, creating a historic opportunity to promote conservation incentives through solid financial tools, increasing liquidity opportunities for forest owners, in this case in the hands of the public sector, to accelerate and expand clean infrastructure implementation timelines.”
Satellogic recently confirmed that SpaceX will continue to be its preferred vendor for rideshare missions, announcing a new Multiple Launch Agreement for 2023 and beyond, reserving launch capacity for its next 68 satellites. The Company is working towards building the capability to capture every square meter of the Earth's surface daily in high-resolution for better decision-making at every level around the world.
About GREEN+ Jurisdictional Programme and GREEN Trust
The program created in 2022 by an alliance of institutions with extensive experience in regions and cities, in biodiversity, energy transition, artificial intelligence, biocapacity, risk, finance, carbon and other sectors, aims to secure all Subnational Protected Areas on the planet and promote through public-private agreements the creation of greater incentives to ensure conservation to accelerate decarbonization on Race to Zero commitments. In this way and with permanent satellite monitoring, a greater social and environmental impact can be achieved and urban pollution can be reduced in the same jurisdiction.
This initiative will provide the global citizenry with greater democratization and access to open information on protected areas worldwide that have supporting legislation.
In addition, through the Program's partnership with different media outlets, regular conservation status updates will be provided in different languages on the loss of biomass of the Earth's last lungs.
According to scientific reports, an increase of 30% to 44% of protected forests is needed by 2030 and this will not be possible without new monitoring, penalization and incentive mechanisms.
To learn more, visit: https://programme.green
About Satellogic
Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic (NASDAQ: SATL) is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is creating and continuously enhancing the first scalable, fully automated EO platform with the ability to remap the entire planet at both high-frequency and high-resolution, providing accessible and affordable solutions for customers.
Satellogic’s mission is to democratize access to geospatial data through its information platform of high-resolution images and analytics to help solve the world’s most pressing problems including climate change, energy supply, and food security. Using its patented Earth imaging technology, Satellogic unlocks the power of EO to deliver high-quality, planetary insights at the lowest cost in the industry.
With more than a decade of experience in space, Satellogic has proven technology and a strong track record of delivering satellites to orbit and high-resolution data to customers at the right price point.
To learn more, please visit: http://www.satellogic.com
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on Satellogic’s current expectations and beliefs concerning future developments and their potential effects on Satellogic and include statements concerning Satellogic’s strategies, Satellogic’s future opportunities, and the commercial and governmental applications for Satellogic’s technology. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by, an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Satellogic. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) Satellogic’s ability to scale its constellation and to do so on Satellogic’s projected timeframe, (ii) Satellogic’s ability to continue to meet image quality expectations, to continue to enhance the capability of its network of satellites and to continue to offer superior unit economics, (iii) Satellogic’s ability to become or remain an industry leader, (iv) the number of commercial applications for Satellogic’s products and services, (v) Satellogic’s ability to address all commercial applications for satellite imagery, changes in the competitive and highly regulated industries in which Satellogic operates, variations in operating performance across competitors and changes in laws and regulations affecting Satellogic’s business, (vi) the ability to implement business plans, forecasts and other expectations, and to identify and realize additional opportunities, (vii) the risk of downturns in the commercial launch services, satellite and spacecraft industry, (viii) the risk that Satellogic and its current and future collaborators are unable to successfully develop and commercialize Satellogic’s products or services, or experience significant delays in doing so, (ix) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (x) the risk of product liability or regulatory lawsuits or proceedings relating to Satellogic’s products and services, and (xi) the risk that Satellogic is unable to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Satellogic’s Annual Report on Form 20-F and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220926005185/en/
Investor Relations:
MZ Group
Chris Tyson/Larry Holub
(949) 491-8235
SATL@mzgroup.us
Media Relations:
Satellogic
pr@satellogic.com
GREEN+ Jurisdictional Programme
media@programme.green
Source: Satellogic Inc.
