DENVER--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE:PLTR) today announced it had been selected by the National Nuclear Security Administration (NNSA) to provide its Office of Safety, Infrastructure, and Operations with a platform for effective knowledge management and data-driven decision-making in an agreement worth up to $89.9 million for a duration of up to 5 years.
Palantir will serve as the platform for NNSA’s Safety Analytics, Forecasting, and Evaluation Reporting (SAFER) project. SAFER will help the NNSA in their mission to manage nuclear security by allowing it to best allocate its human and financial resources to prioritize safety. This is Palantir’s first contract with the NNSA.
For SAFER, Palantir will configure a common operating picture that will integrate data and allow the NNSA to measure the health of safety programs across the organization and provide timely insights into data. The program will give NNSA staff the ability to track, trend, query, analyze, and visualize safety metrics from different sites across the country. Palantir’s software allows for the integration of data across the enterprise regardless of data type or source system, and its granular security model is uniquely suited for the NNSA to collaborate across its sites securely.
“Our work with NNSA illustrates Palantir’s mission to provide software to the world’s most important institutions in support of their most critical work,” said Palantir USG President Akash Jain. “We are excited to expand our work within the U.S. government and provide the NNSA with a high-tech solution to make the best possible use of its resources in support of the Nation’s nuclear security missions.”
Established by Congress in 2000, NNSA is a semi-autonomous agency within the U.S. Department of Energy responsible for enhancing national security through the military application of nuclear science. NNSA maintains and enhances the safety, security, and effectiveness of the U.S. nuclear weapons stockpile; works to reduce the global danger from weapons of mass destruction; provides the U.S. Navy with safe and militarily effective nuclear propulsion; and responds to nuclear and radiological emergencies in the United States and abroad.
About Palantir Technologies
Palantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data. Additional information is available at https://www.palantir.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.