April 14th Launch Expands Fleet to 34 Operational Satellites Supporting Commercial, Environmental, and Government Applications
NEW YORK--(BUSINESS WIRE)--Apr. 17, 2023--
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation (“EO”) data collection, today announced the successful deployment of four additional satellites following the launch of SpaceX’s Transporter-7 mission from Vandenberg Space Force Base, California. Each of the NewSat Mark-IV spacecraft made contact with Satellogic’s ground station reporting in good health.
The SpaceX Transporter-7 mission was completed Friday, April 14, with a two-stage rocket delivering the four satellites designed and built by Satellogic to orbit. The NewSat Mark-IV models include multispectral cameras designed to collect high-resolution imagery from sun-synchronous low-Earth orbit. Satellogic continued its celebrated tradition of naming satellites after remarkable women in STEM and has named these four spacecraft after Joan Clarke, Annie Jump Cannon, Tikvah Alper, and Maria Gaetana Agnesi.
“Each of our 14 launches has enabled us to continuously expand and improve the Earth Observation capabilities our customers rely on,” said Matt Tirman, CCO of Satellogic. “We are proud of our 100% successful deployment rate, and as with our launch in January and those planned for later this year, these additional satellites bring Satellogic one giant leap closer to fulfilling our aim of daily global remaps.”
SpaceX is Satellogic’s preferred launch provider for rideshare missions for 2023 and beyond. A multiple launch agreement reserved launch capacity for up to 68 satellites to support the Company’s planned constellation roadmap for 200+ satellites in orbit. Satellogic aims to expand its constellation to include over 40 satellites in 2023.
Future launches may support the company’s newest offering, Space Systems; a satellite purchase program that aims to lower the financial barrier to EO spacecraft ownership. Purchase options begin at less than $10 million, and offer flexibility as well as a significantly shortened time-to-operation span of 8-3 months. Satellogic Space Systems is designed to accommodate governments with interest or requirements for asset ownership to enhance national geospatial intelligence (GEOINT) with global tasking autonomy. Satellogic’s Space Systems business line offers satellite acquisition not subject to ITAR regulations, export controls and/or licensing.
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 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,” “intend,” “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 of satellites and to do so on Satellogic’s projected timeframe and in accordance with projected costs, (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 the market for Satellogic’s products and services does not develop as anticipated, (ix) 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, (x) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (xi) the risk of product liability or regulatory lawsuits or proceedings relating to Satellogic’s products and services, and (xii) 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.
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Investor Relations:
MZ Group
Chris Tyson/Larry Holub
(949) 491-8235
SATL@mzgroup.us
Media Relations:
Satellogic
pr@satellogic.com
Source: Satellogic Inc.
