Regional Presence to be Overseen by Ken Fritschel, Vice President, International Sales, Satellogic
NEW YORK--(BUSINESS WIRE)--May 23, 2022--
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation (“EO”) data collection, announced today that it is enhancing its operations in the Australian market to strengthen its regional customer relationships and provide local support for a growing APAC space economy. The regional presence will be overseen by Ken Fritschel, Vice President, International Sales, Satellogic.
“Our growing presence in Australia, overseen by one of our key executives, will provide a direct connection to the APAC region so we can more easily work with our commercial customers and close public sector allies across Oceania and Asia,” stated Emiliano Kargieman, CEO and Co-Founder of Satellogic. “Australia is committed to keeping supply chains open and believes in the democratization of space, which is the core of our mission. We look forward to continuing to collaborate with organizations in the country and across the region as we further expand access to Earth Observation data worldwide, in order to help solve the biggest global challenges that we are facing.”
Satellogic currently operates 22 high-resolution satellites and expects to grow its constellation to 34 satellites by Q1 2023. By 2025, the Company expects to have over 200 satellites in orbit to provide daily remaps of the entire surface of the Earth, and up to 40 revisits of points of interest per day.
Satellogic recently announced a Multiple Launch Agreement (“MLA”) with SpaceX, reserving launch capacity for its next 68 satellites. This new MLA, which follows the current MLA covering 2022 launches, confirms that SpaceX continues to be Satellogic’s preferred vendor for rideshare missions, meeting the capacity demands of the Company’s constellation roadmap and providing shorter periods between satellite development and deployment. Satellogic’s rapid and consistent launch cadence enables the company to continually test new technology, refresh and augment its constellation, and differentiate from competition.
“We are focused on developing our partnerships with the public sector throughout APAC, in particular Australia, with its strong security alliances across the Indo-Pacific region,” stated Matt Tirman, EVP & GM Global Public Sector at Satellogic. “Today’s announcement is an important step forward in this area and we expect that our operations will accelerate the new space industry across APAC and further support our key Oceanic, European, and North American partners.”
The announcement is made in tandem with Satellogic's participation at a key Australian event: Locate 2022, taking place May 24-26 in Canberra. Thomas VanMatre, VP of Global Business Development at Satellogic, will be delivering a presentation on "Multi-Sensor Constellations" at 3:45 p.m. AEST on Tuesday, May 24.
Satellogic will also attend Asia Satellite Business Week in Singapore, June 1-3. Brian Lantier, EVP of Global Revenue at Satellogic, will participate on the "Revolutionizing Earth Observation: From Data to AI and Analytics" panel at 3:30 p.m. SGT on Thursday, June 2.
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, (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.
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Chris Tyson/Larry Holub
Source: Satellogic Inc.