Company Advances on Goal of Bi-Weekly Global Remapping and Enhanced Geospatial Capabilities with 5th Generation Satellites
NEW YORK--(BUSINESS WIRE)--Jun. 13, 2023--
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution satellite imagery collection, today announced that four NewSats Mark-V spacecraft successfully reached low-Earth orbit following a SpaceX Falcon 9 launch on June 12th from Vandenberg Space Force Base in California. This marks Satellogic’s 15th mission and its first payload comprised exclusively of its latest generation spacecraft with advanced Earth Observation (“EO”) capabilities.
Each spacecraft reached low Earth orbit and successfully connected with Satellogic’s ground station network following the launch. Satellogic now has 38 microsatellites in orbit, the largest commercial fleet of sub-meter resolution satellites in the world.
“Today we celebrate 15 consecutive successful missions and the continued expansion of our constellation, which means we are consistently delivering more capacity, more reliability – and in this case next-gen capabilities – for our customers,” said Matt Tirman, Chief Commercial Officer of Satellogic. “With each launch, we increase opportunities for Earth Observation autonomy, whether through asset monitoring, Constellation-as-a-Service, or validating enhancements for future Space Systems customers. With greater capacity, we can serve customers’ individual needs more effectively.”
Satellogic designed and manufactured the NewSats Mark-V spacecraft, which include over 10,000 components in a system that enables 10 times the image collection capability of our competitors and end-to-end vertical integration with solutions that make access to high-frequency and high-resolution imagery affordable. Improved cameras, radios, computers, and other subsystems compatible with components from previous models, enable Satellogic to provide its customers with higher quality products. Each spacecraft carries a multispectral camera to provide geospatial data with 0.7-meter resolution imagery and unmatched frequency for customized applications.
Satellogic continues its tradition of recognizing pioneering women in STEM, this time honoring Carolyn Shoemaker, an American astronomer and a co-discoverer of Comet Shoemaker-Levy; Cecilia Payne-Gaposchkin, a British-born American astronomer and astrophysicist, who in her 1925 doctoral thesis made the groundbreaking conclusion that stars were composed primarily of hydrogen and helium; Maria Wonenburger, a Galician mathematician known for her work on group theory, who was the first Spanish woman to obtain a Fulbright scholarship for doctoral studies in mathematics; and Rose Dieng-Kuntz, a Senegalese computer scientist and pioneer specializing in artificial intelligence, who was the first African woman to enroll in the École Polytechnique.
Satellogic’s previous launch on the SpaceX Transporter-7 Mission in April 2023 was the final integration of the Company’s earlier NewSats Mark-IV spacecraft model. Satellogic expects to build and launch up to 10 additional NewSats Mark-V satellites this year to increase its ability to remap the Earth every two weeks by the end of 2023. The Company aims to expand its constellation to over 200 satellites for daily remaps of the Earth's surface, with up to 40 revisits of points of interest per day, for better decision-making at every level around the world.
To watch SpaceX’s Transporter-8 mission webcast, please visit: spacex.com/launches.
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, 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.
