Investment Drives Strategic Focus on Vertical
Integration
Satellogic CEO Emiliano Kargieman Joins Board
of Directors of Officina Stellare
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution
Earth Observation (“EO”) data collection, today announced the
completion of an ~5% investment in Officina Stellare (“OS”). This
includes an option for Satellogic to expand its ownership to up to
12% in the next 36 months and the appointment of Emiliano
Kargieman, CEO and Co-Founder of Satellogic, to the OS Board of
Directors.
OS, a publicly traded Euronext Growth Milan company
headquartered in Sarcedo - Vicenza, is widely recognized as a
leader in the design and production of optomechanical
instrumentation for aerospace, research, and defense sectors. OS
continues to be a telescope provider for Satellogic and specializes
in communication, optical, and quantum applications that are the
backbone infrastructures for the rapidly growing Space Economy.
“Acquiring a significant ownership interest in Officina Stellare
represents a strategic investment in a key industry supplier, and
is a large step towards furthering our own vertical integration and
greater supply chain resiliency,” said Satellogic’s Emiliano
Kargieman. “Our vertical integration enables Satellogic to have
shorter R&D cycles, faster innovation cycles and lower
satellite costs compared to competitors, and we believe this
approach will continue to unlock commercial opportunities in the
market.”
“Officina Stellare brings an experienced, dynamic team which
complements our development and innovation capabilities. This is an
exciting opportunity not only to help guide their delivery of
advanced optomechanical instrumentation, but also facilitates our
own collaborative growth in commercial markets and customer-centric
innovation,” added Kargieman.
Gino Bucciol, Co-founder and VP of Business Development at OS,
said: “Officina Stellare and Satellogic have always shared a common
drive for customer innovation and industry disruption, and together
we are positioned to bring both into the New Space Economy. This is
a starting point for our collaboration, and we look forward to
expanding our aerospace capabilities and greater market
penetration.”
About Officina Stellare
Officina Stellare S.p.A. (OS.MI) is a leader in the design,
development and delivery of complex opto-mechanical systems and
instrumentation for both Ground and Space-based applications. The
company operates as a vertical integrator where precise, state of
the art designing, manufacturing, integration and testing are
performed in-house with granular accuracy. The Company
headquartered in Sarcedo (VI), Italy, has been listed on the
Euronext Growth market of Borsa Italiana since 2019.
The company stands out from the international panorama for the
entirely in-house availability of the know-how and processes
necessary for the design, manufacturing and commissioning of its
products and systems for both series and full custom solutions.
To learn more, please visit: www.officinastellare.com
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 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,
including, without limitation, Satellogic’s option to increase its
ownership interest in OS, 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 and to do so on
Satellogic’s projected timeframe, (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/20221108005449/en/
Investor Relations:
Officina Stellare
investor.relations@officinastellare.com
Satellogic / MZ Group Chris Tyson/Larry Holub (949)
491-8235 SATL@mzgroup.us
Media Relations:
Officina Stellare lisa.maretto@officinastellare.com
Satellogic pr@satellogic.com
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