Upcoming launch will introduce a new satellite
model with enhanced proprietary technology, enabling Satellogic to
scale its constellation of satellites and increase client offerings
and product quality
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution
satellite imagery collection, announced today it has shipped five
satellites to be launched in early Q2 from Cape Canaveral. The
launch will be part of SpaceX's Transporter-4 mission onboard the
highly flight-proven Falcon 9 reusable, two-stage rocket, under
SpaceX's Rideshare program.
The upcoming launch includes the first deployment of
Satellogic's new Mark V satellite model. This new generation of
satellites enhances the company's constellation with improved
cameras, radios, computers, and other subsystems compatible with
all components from previous models, offering Satellogic's
customers higher quality products.
The remaining satellites are four updated NewSats Mark IV. These
improved satellites contain increased onboard storage and upgrades
to the propulsion and navigation systems. The enhancements include
manufacturability and cost saving processes used in preparation for
the start-up of Satellogic's High-Throughout Plant in the
Netherlands later this year.
"We are excited to increase our customer's opportunities and
product offering with this launch," said Matthew Tirman, President
of Satellogic North America. "The new and enhanced satellites will
increase the quality of our current services and create new
opportunities for our customers."
The new Mark V model includes a new proprietary-designed
multispectral camera as the primary payload that will boost image
quality with 70 cm native resolution and significantly improve the
Signal-to-Noise Ratio and the Dynamic Range of the images. The new
satellite also increases swath by 40%, optimizing Satellogic's
constellation size while guaranteeing world remap capabilities and
reducing imagery costs. The Mark V also includes a new generation
of onboard computers with enhanced processing power, allowing for
better operations and improved efficiency.
Satellogic's customers have the opportunity to fly their own
hardware in space onboard each NewSat Hosted Payload bay without
the purchase of an entire satellite. This bay's modular design and
standard interface definition facilitate hardware integration in
the company's manufacturing plants, provide transparent operations
for customers, and optimize time to orbit from contract signature
to launch date.
The Mark IVs include Hosted Payloads from Satellogic's customers
and the company's last-mile testing of future payloads, including
onboard edge computing for customers who want to run their
algorithms where data is generated, and future radio frequency (RF)
products. With this Hosted Payload, Satellogic will begin to equip
its satellites with a payload that enables its constellation to
geolocate devices that emit RF signals.
This launch is part of Satellogic’s previously announced plans
for 2022 and will expand Satellogic’s fleet to 22 satellites
delivering high-resolution data from space. Satellogic plans to
launch up to 12 additional spacecraft later this year, offering up
to seven daily revisits of any point of interest, which would
result in a total of 34 commercial satellites in orbit by Q1 2023.
The company intends that its constellation will include over 200
satellites by 2025, providing Satellogic with the capacity to remap
the entire Earth daily. By democratizing Earth Observation (“EO”)
imagery, Satellogic is able to serve previously underserved
verticals, and partner with US government and Dedicated Satellite
Constellations customers around the world, to provide new insights
into the occurrence and progression of economic activities,
security risks, and natural events unfolding across the globe.
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 Earth Observation 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. 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 effective registration statement on Form F-1 and the
prospectus included therein 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 gives no assurance that it
will achieve its expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20220310005115/en/
Media Contact: Tony Fassi tony@jones-dilworth.com
Jones-Dilworth, Inc.
Investor Relations: MZ Group Chris Tyson/Larry Holub
(949) 491-8235 SATL@mzgroup.us
Media Relations: Satellogic pr@satellogic.com
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