CHARLOTTE, N.C.--(BUSINESS WIRE)--Satellogic, the leader in sub-meter resolution satellite imagery collection, today announced a new partnership with GeoTerraImage, the premier geospatial solutions provider in southern Africa. GeoTerraImage will leverage Satellogic’s high-resolution multispectral satellite data and low-latency hyperspectral data for large-scale agriculture management to help the continent develop new food systems and food-security solutions.
GeoTerraImage is a trusted solutions provider for customers across Africa and globally. By leveraging Satellogic’s high-resolution, high-frequency geospatial data and combining it with their proprietary software and algorithms, GeoTerraImage will bring differentiated and value-added products and services to their end customers. Imagery from Satellogic’s growing constellation will fuel new agricultural analysis and dashboards to be utilized by organizations across the continent and beyond.
According to the 2020 Edition of African Space Industry Annual Report, demand for space data is increasing at an exponential rate in Africa. The industry, which is growing at a CAGR of 7.3%, is expected to reach $10B USD by 2024. Over $717M USD was spent on satellite projects in 2019. From 2010 to 2020 the African EO and geospatial sector grew by 96% or about 10% annually.
“This is an incredibly exciting time for the African space industry. Satellogic is thrilled for the opportunity to contribute to the continued growth and development of the region’s geospatial capabilities,” said Thomas VanMatre, Vice President of Global Business Development, Satellogic. “By providing high-resolution, high-frequency imagery at an affordable price point, Satellogic will help GeoTerraImage solve some of the most challenging resource-allocation and food-security challenges of our time.”
Along with Satellogic’s multispectral data, GeoTerraImage will leverage Satellogic’s unique, low-latency hyperspectral imagery offering for large-scale agriculture applications across the globe.
“Together, as a result of this partnership, GeoTerraImage and Satellogic are bringing an unmatched capability to market,” said Pieter Sevenhuysen, Director at GeoTerraImage. “Utilizing Satellogic’s low-latency hyperspectral imagery, GeoTerra’s comprehensive agriculture offering will provide unmatched value in the agriculture vertical.”
GeoTerraImage is also a key player in the telecoms vertical. The opportunity to use Satellogic’s multispectral imaging to identify different types of architecture and building structures at high resolution enhances the quality of network planning data products, especially where propagation of high frequency bands is extremely sensitive to interferences from different architectural materials and vegetation.
“For telecoms, Satellogic’s high frequency update is an advantage both in terms of the likelihood of acquiring cloud free, usable imagery when it is needed, as well as ensuring up-to-date relevance of image content,” said Mark Thompson, Director at GeoTerraImage.
Satellogic’s unique, patented camera design uses adaptive optics to collect 10 to 20 times more data from a single satellite than any other small Earth Observation satellite. Satellogic satellites can capture images continuously when they are on top of land and are capable of collecting more than 300,000 sq. km of data per day, significantly more than any competitor. The company continues to manufacture their own satellites and launch with SpaceX and other launch partners.
Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is building 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 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 Earth Observation 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.
On July 6th, 2021, Satellogic and Cantor Fitzgerald Acquisition Corp. V entered into a definitive merger agreement that will result in Satellogic becoming a publicly traded company. The transaction is expected to be completed early in the fourth quarter of 2021, subject to regulatory approvals and other customary closing conditions. More details can be found on Satellogic’s Investor Webpage: https://satellogic.com/investors/