NEW YORK--(BUSINESS WIRE)--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.
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
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.