January 3rd Launch Expands Fleet to 30 Operational Satellites in Orbit, Featuring Next-Generation NewSat Mark V Model Designed for Weekly Global Remapping to Support Commercial, Environmental, and Government Applications
NEW YORK--(BUSINESS WIRE)--Jan. 4, 2023--
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation (“EO”) data collection, today announced the successful deployment of four satellites, launched with SpaceX at Cape Canaveral Space Force Station. Each of the spacecraft have made contact with Satellogic’s ground station network and confirmed good health across all subsystems.
The SpaceX Transporter-6 mission was completed Tuesday with a two-stage rocket delivering these four satellites to a sun-synchronous low-Earth orbit. This deployment includes the “Albania-1” and “Albania-2” satellites, that will support the Republic of Albania pursuant to a recent 3-year constellation-as-a-service agreement entered into with Satellogic. The dedicated satellites will enable Albania to task and monitor its sovereign territory for a range of applications including agriculture management, border security, and environmental monitoring.
“Beginning with our first mission in 2013, each launch has enabled us to expand and improve products and services for customers that are seeking efficient and affordable solutions to critical challenges,” said Matt Tirman, CCO of Satellogic. “This launch advances the technology and resources that are the hallmark of our constellation-as-a-service model to democratize access to low-orbit data for commercial organizations and governments around the world.”
Three of the four launched spacecraft are updated Satellogic NewSat Mark IV-G models, each carrying an edge node hosted payload. The fourth satellite is Satellogic’s next generation NewSat Mark V-B model, a more cost-effective spacecraft carrying a new iteration of a multispectral and hyperspectral camera that will unlock longer captures with higher resolution. In addition, this NewSat Mark V-B satellite features increased onboard storage and enhanced power, communications, propulsion, and navigation systems that expand the reliability and quality of Satellogic’s constellation.
As Satellogic confirmed in 2022, SpaceX continues to be its preferred launch provider for rideshare missions for 2023 and beyond. The multiple launch agreement signed with SpaceX in Q2 2022 reserves launch capacity for Satellogic’s next 68 satellites. The cadence, cost and reliability provided by SpaceX aligns with the Company’s constellation roadmap and enables shorter periods between satellite development and deployment. Satellogic expects to launch up to 21 satellites to its constellation in 2023.
Satellogic is working towards building the unparalleled capability to capture the entire surface of the Earth in high-resolution on a daily basis and provide up to 40 revisits of points of interest per day for better decision-making at every level around the world.
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”, “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 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/20230104005166/en/
Chris Tyson/Larry Holub
Source: Satellogic Inc.