Infospectrum Expands Contract with Spire Global to Enhance Vessel-Tracking Capabilities

Rhea-AI Summary

Infospectrum expands agreement with Spire Global to acquire historical vessel-tracking data, boosting maritime analytics market expected to be $2 billion by 2028. Spire's AIS data and Port Events solution provide insights for risk management and trade approval.

Positive

• Expansion of agreement with Spire Global to acquire historical vessel-tracking data
• Maritime analytics market expected to be $2 billion by 2028
• Spire's AIS data and Port Events solution provide insights for risk management and trade approval

Negative

• None.

VIENNA, Va.--(BUSINESS WIRE)-- Infospectrum has expanded its agreement with Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a global provider of space-based data, analytics, and space services, to acquire historical vessel-tracking data in addition to port event information.

The maritime analytics market is expected to be over $2 billion by 2028. Spire’s historical automatic identification system (AIS) data and Port Events solution — which supplies live and historical vessel arrival and departure times in ports, anchorages, terminals and canals — provides visibility into a vessel’s entire journey. Through the integration of Spire’s APIs, Infospectrum can deliver industry-leading insights and solutions for risk management, compliance, and trade approval to the shipping, commodities, and energy markets.

“The insights we provide underpin trading and credit decisions every day and contribute to the effective management and mitigation of risk,” said Magnus Evjebraaten, Chief Product & Technology Officer at Infospectrum. “With the addition of Spire AIS data along with Port Events, we are able to empower our clients globally to accurately, quickly and confidently assess risk and seize viable opportunities in what are the most challenging commercial environments.”

Learn more about Spire’s maritime data and solutions at spire.com/maritime.

About Spire Global, Inc.

Spire (NYSE: SPIR) is a global provider of space-based data, analytics and space services, offering unique datasets and powerful insights about Earth so that organizations can make decisions with confidence in a rapidly changing world. Spire builds, owns, and operates a fully deployed satellite constellation that observes the Earth in real time using radio frequency technology. The data acquired by Spire’s satellites provides global weather intelligence, ship and plane movements, and spoofing and jamming detection to better predict how their patterns impact economies, global security, business operations, and the environment. Spire also offers Space as a Service solutions that empower customers to leverage its established infrastructure to put their business in space. Spire has eight offices across the U.S., Canada, UK, Luxembourg and Singapore. To learn more, visit spire.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230829315770/en/

For Media:

Sarah Freeman

Communications Manager

sarah.freeman@spire.com

For Investors:

Benjamin Hackman

Head of Investor Relations

Benjamin.Hackman@spire.com

Source: Spire Global, Inc.