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NGA Awards Maxar Land Cover and Enhanced API Contracts
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Rhea-AI Summary
Maxar Technologies (NYSE: MAXR) has secured new contract awards totaling up to $35.8 million from the U.S. National Geospatial-Intelligence Agency (NGA). The first contract, valued at $22.5 million, is a one-year deal with $11.3 million initially funded for high-resolution land cover data. The second award, worth $13.3 million, involves developing an enhanced API for NGA that integrates modern data management and supports machine learning applications, extending over a performance period of up to 4.5 years.
Positive
Contract awards worth up to $35.8 million enhance Maxar's revenue potential.
The first contract supports high-resolution land cover characterization, expanding operational capabilities.
The second contract focuses on developing a modern API, improving data dissemination and integration capabilities.
Negative
None.
WESTMINSTER, Colo.--(BUSINESS WIRE)--
Maxar Technologies (NYSE:MAXR) (TSX:MAXR), provider of comprehensive space solutions and secure, precise, geospatial intelligence, today announced new contract awards worth up to $35.8 million from the U.S. National Geospatial-Intelligence Agency (NGA).
The Colosseum | Rome, Italy | March 22, 2022 | WorldView-3 Satellite Image (Credit: Maxar Technologies)
The first award is a one-year Period of Performance contract worth up to $22.5 million with $11.3 million initially funded under NGA’s Janus Geography program. This new award builds upon Maxar’s more than 20 years of experience delivering foundational geospatial intelligence data to NGA by characterizing land cover at high resolution over numerous previously unmapped areas.
Under the second award, worth up to $13.3 million, Maxar will provide NGA’s Foundation Program with a modern, enhanced application programming interface (API) capable of querying, discovering and downloading Maxar products derived from the company’s 125-petabyte (PB) high-resolution commercial imagery archive. Additionally, this enhanced API will deliver content to the end user’s cloud account rather than via legacy dissemination methods. Additional options include third-party content integration, full business analytics and greater production capacity.
The enhanced API award is for a performance period of up to 4.5 years consisting of a base of six months and four full option years. The new API will support computer vision, machine learning and artificial intelligence applications.
“Maxar is proud to continue partnering with NGA on enduring missions such as foundation geospatial intelligence, land cover and intelligence support, as well as to help spur innovation in new areas like automation,” said Tony Frazier, Maxar’s Executive Vice President and General Manager, Public Sector Earth Intelligence. “Public-private partnerships such as this represent the U.S. government’s ongoing commitment to commercial space and geospatial analytics technology.”
About Maxar Maxar Technologies (NYSE:MAXR) (TSX:MAXR) is a provider of comprehensive space solutions and secure, precise, geospatial intelligence. We deliver disruptive value to government and commercial customers to help them monitor, understand and navigate our changing planet; deliver global broadband communications; and explore and advance the use of space. Our unique approach combines decades of deep mission understanding and a proven commercial and defense foundation to deploy solutions and deliver insights with unrivaled speed, scale and cost-effectiveness. Maxar’s 4,400 team members in over 20 global locations are inspired to harness the potential of space to help our customers create a better world. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com.
Forward-Looking Statements
This press release may contain forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Any such forward-looking statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements, including those included in the Company’s filings with U.S. securities and Canadian regulatory authorities. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as may be required under applicable securities law.
