Satellogic Now Meets Requirements for Additional U.S. Government and Allied Nation Contracts, Supporting its U.S.-Focused Strategy
NEW YORK--(BUSINESS WIRE)--Nov. 21, 2023--
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation (“EO”) data collection, today announced that it has been granted a remote sensing license by the National Oceanic and Atmospheric Administration (“NOAA”) as part of Satellogic’s strategy to capitalize on high-value opportunities in the U.S.
The license results in Satellogic being subject to NOAA’s oversight as Satellogic pivots operational control of its satellite constellation to its U.S. personnel and expands the Satellogic ground station network to include U.S. based ground stations. The license was granted following a NOAA and inter-agency review of the Satellogic constellation assessing national security, foreign policy, and U.S. international risks and obligations.
“Satellogic’s industry-leading capacity and agility to frequently remap large areas worldwide has driven our commercial solutions and uniquely positioned us to fill a gap for the U.S. and its allies,” said Matt Tirman, President of Satellogic. “U.S. defense, intelligence, and civilian agencies have recognized a significant and growing need to collaborate with commercial partners like Satellogic that can provide rapid, accurate, and trusted geospatial data for a range of global applications.”
Satellogic initiated the license application for its Aleph-1 Constellation as a critical step in establishing an end-to-end U.S. pixel path and expanding support for customers with NOAA requirements. Services include global tasking capacity, a range of high-quality geospatial data, Satellogic’s unique Constellation-as-a-Service model, and direct satellite sales via its Space Systems program.
This news comes on the heels of the company’s recent announcement of its decision to redomicile to the U.S., with an aim to complete the process in the first half of 2024. Satellogic anticipates targeting new U.S. intelligence opportunities in 2024 in addition to its current pipeline of international government and commercial opportunities.
Satellogic operates the largest commercial fleet of submeter resolution EO satellites in the world and provides EO data to governments and corporations for better decision-making. Its mission is to advance cost-efficiencies as well as rapidly iterate its proprietary technology for the purpose of expanding affordable access to critical information about the planet and life on Earth.
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”, “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, 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, including the ability of Satellogic to realize the potential benefits of opportunities in the U.S. arising as a result of the license granted by NOAA, (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.
