BlackSky Awarded Five-Year Joint Artificial Intelligence Center Contract for AI Data Readiness

Rhea-AI Summary

BlackSky Technologies Inc. (NYSE: BKSY) has secured a basic order agreement with the Joint Artificial Intelligence Center (JAIC) valued at $241 million over five years. This agreement aims to develop and enhance data sets for the Department of Defense's AI applications. With expertise in space-based monitoring, BlackSky's platform will support the DoD's national security missions, providing real-time geospatial intelligence. The agreement positions BlackSky to leverage its AI capabilities to meet the evolving needs of the DoD community.

Positive

• Awarded a $241 million agreement with JAIC for AI data set development.
• Strengthens BlackSky's position in national security and AI integration.

Negative

• None.

Company’s data-rich dynamic monitoring platform delivers AI-enabled end-to-end capabilities for DoD community

HERNDON, Va.--(BUSINESS WIRE)-- BlackSky Technologies Inc. (NYSE: BKSY) was awarded a basic order agreement from the Joint Artificial Intelligence Center (JAIC) to create and optimize data sets for use in DoD AI models and applications. The JAIC agreement has a ceiling value of $241 million over five years.

“With demonstrated AI expertise in space-based dynamic monitoring, this agreement will open even more doors for BlackSky to contribute its unique value to the diverse national security challenges faced by the wider DoD community,” said Patrick O’Neil, BlackSky chief innovation officer.

“From automatically tasking satellites to the low-latency delivery and analysis of high-frequency geospatial imagery and non-imagery data, our unique, data-rich platform brings a strong source of core AI-enabled end-to-end capabilities to the DoD’s mission sets,” said O’Neil.

The JAIC, Defense Digital Service, and Office of Advancing Analytics were merged into a single organization called the Office of the Chief Digital and Artificial Intelligence Officer.

About BlackSky
BlackSky is a leading provider of real-time geospatial intelligence. BlackSky delivers on-demand, high frequency imagery, monitoring and analytics of the most critical and strategic locations, economic assets, and events on Earth.

BlackSky designs, owns and operates one of the industry’s leading low earth orbit small satellite constellations, optimized to capture imagery cost-efficiently where and when our customers need it. BlackSky's Spectra AI software platform processes data from BlackSky's constellation and from other third-party sensors to develop the critical insights and analytics that our customers require.

BlackSky is relied upon by U.S. and international government agencies, commercial businesses, and organizations around the world. BlackSky is headquartered in Herndon, VA, and is publicly traded on the New York Stock Exchange as BKSY. To learn more, visit www.blacksky.com and follow us on Twitter.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to BlackSky. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. 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. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect our expectations, plans, or forecasts of future events and views as of the date of this communication. We anticipate that subsequent events and developments will cause their assessments to change. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Additional risks and uncertainties are identified and discussed in BlackSky’s disclosure materials filed from time to time with the SEC which are available at the SEC’s website at http://www.sec.gov or on BlackSky’s Investor Relations website at https://ir.blacksky.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220621005190/en/

Investor Contact

Aly Bonilla

VP, Investor Relations

abonilla@blacksky.com

Media Contact

Pauly Cabellon

Director, External Communications

pcabellon@blacksky.com

Source: BlackSky Technologies Inc.

FAQ

What is the value of BlackSky's agreement with the JAIC?

The agreement with the Joint Artificial Intelligence Center is valued at $241 million over five years.

What does BlackSky Technologies provide to the DoD?

BlackSky provides AI-enabled capabilities for geospatial intelligence, including real-time imagery and data analytics.

When was the agreement with JAIC announced?

The agreement was announced in a press release dated June 21, 2022.

What is the significance of the JAIC agreement for BlackSky?

The agreement enhances BlackSky's ability to support national security missions and expand its role in the AI space.

How can investors stay updated on BlackSky's performance?

Investors can follow BlackSky’s updates via their Investor Relations website at ir.blacksky.com.