Spire Global and SpaceChain Announce New Partnership

Rhea-AI Summary

Spire Global (NYSE: SPIR) has partnered with SpaceChain to launch a mission demonstrating blockchain technology computation in space. This collaboration aims to decentralize data access, enhancing data security and resilience. Utilizing Spire's SABERTOOTH supercomputing module, the two companies will initially upload SpaceChain's software to an existing satellite, with plans for further development on a new satellite later this year. This initiative positions both companies at the forefront of integrating space and blockchain technologies, advancing the new space economy.

Positive

• Partnership with SpaceChain to leverage blockchain technology in space.
• Utilization of SABERTOOTH supercomputing module for enhanced computing capabilities.
• Potential to increase data security through decentralized satellite infrastructure.

Negative

• None.

Industry-leading Companies Launching Mission to Demonstrate Blockchain Technology Computation Possibilities in Space

VIENNA, Va.--(BUSINESS WIRE)-- Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a leading global provider of space-based data, analytics, and space services announced today a new partnership with SpaceChain, a global space-as-a-service solutions provider developing the world’s first decentralized satellite infrastructure (DSI). Together, Spire and SpaceChain are launching a mission to demonstrate the feasibility of blockchain technology computation in space and resolve land-based centralized infrastructure issues.

Many in the blockchain industry have been working to reduce points of risk whereby a centralized administrator or authority can tamper with, or in the worst case, steal funds and data. One potential solution is to decentralize access by distributing data across multiple centers, countries, and continents. By deploying a solution in space, Spire and SpaceChain aim to maximize data security and increase the resiliency of computing operations.

SpaceChain is reimagining the space industry, having worked with all quarters of the ecosystem ranging from launch service providers, national space agencies, satellite manufacturers to data analytics startups. The integration of blockchain and space technologies helps create a Decentralized Satellite Infrastructure (DSI) on which Decentralized Satellite Applications (DSA) can be built and run without the need for any land-based infrastructure.

“Space is the next frontier for businesses, and through Spire’s satellite infrastructure we are taking global collaboration to the ultimate vantage point,” said Zee Zheng, SpaceChain co-founder and CEO. “This partnership will help us leverage satellite-based computing to remove barriers and create a more open, collaborative and global economy.”

Spire will utilize its “SABERTOOTH” supercomputing module, the company’s fastest and most power-efficient embedded AI computing device, to fulfill a two-part mission with SpaceChain. Initially, Spire will conduct an on-orbit upload of SpaceChain’s software to an existing satellite, before further building out SpaceChain’s capabilities via a payload on a new satellite, expected to be launched later this year.

“We’re delighted to work alongside SpaceChain and demonstrate innovative ways to leverage outer space,” said Theresa Condor, Executive Vice President and General Manager of Spire Space Services. “Space-based computation is already proving its value across countless industries and use cases, and we’re excited to help realize its potential for emerging and decentralized blockchains.”

About Spire Global, Inc.

Spire is a leading global provider of space-based data, analytics, and space services, offering access to unique datasets and powerful insights about Earth from the ultimate vantage point so that organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world’s largest multi-purpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world’s toughest problems with insights from space. Spire has offices in San Francisco, Boulder, Washington DC, Glasgow, Luxembourg, and Singapore. To learn more, visit http://www.spire.com.

About SpaceChain

SpaceChain fosters decentralized infrastructure for the New Space Economy. By combining space and blockchain technologies, SpaceChain is making the development of space applications easier and making space more accessible. For more information, visit www.spacechain.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005760/en/

For Spire Global, Inc.:

Janine Kromhout

janine.kromhout@spire.com

(650) 269-1417

Autonomy for SpaceChain:

Tony Tan

tony@autonomy-consulting.com

(+65) 6570-9139

Source: Spire Global, Inc.

FAQ

What is the partnership between Spire and SpaceChain about?

Spire and SpaceChain are collaborating to demonstrate blockchain technology computation in space, focusing on enhancing data security and resilience.

What technology will Spire use for the mission with SpaceChain?

Spire will utilize its SABERTOOTH supercomputing module for the two-part mission with SpaceChain.

When is the new satellite expected to launch?

The new satellite, which will expand SpaceChain's capabilities, is expected to be launched later this year.

How does this partnership affect Spire's market position?

By integrating space and blockchain technologies, the partnership positions Spire at the forefront of innovation in the new space economy.

What is the stock symbol for Spire Global?

Spire Global trades under the stock symbol SPIR on the NYSE.