Spire Global Awarded $4 Million NOAA Contract to Deliver Hyperspectral Microwave Sensing Payload

Rhea-AI Summary

Spire Global (NYSE: SPIR) announced a two-year contract with NOAA to develop a hyperspectral microwave sensing (HyMS) sensor, enhancing Numerical Weather Predictions (NWP). This project underscores Spire's role in providing high-quality commercial data for weather forecasting. The new technology aims to measure atmospheric moisture more effectively, crucial in the context of extreme weather patterns. The contract is part of NOAA's efforts to collaborate with earth observation companies, marking Spire's fourth contract with NOAA, valued at $23.6 million in FY22.

Positive

• Two-year contract with NOAA for developing a hyperspectral microwave sensing sensor.
• Enhances accuracy of NOAA's Numerical Weather Predictions.
• Total of four NOAA contracts awarded in FY22, valued at $23.6 million.
• Spire is a leading producer of radio occultation data with over 100 satellites deployed.

Negative

• None.

First Spire payload funded by NOAA will demonstrate how hyperspectral microwave sensing technology can improve the value and accuracy of Numerical Weather Predictions

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 today announced that it has been awarded a Broad Agency Announcement (BAA) issued by the National Environmental Satellite, Data, and Information Service (NESDIS) of the National Oceanographic and Oceanic Administration (NOAA) to leverage the technology of hyperspectral microwave sensing (HyMS). The two-year program, focused on enhancing the value and accuracy of NOAA's Numerical Weather Predictions (NWP), will fund Spire’s development of a HyMS in-orbit demonstration sensor on a 16U satellite.

The original objective of NOAA’s BAA was to develop a HyMS prototype in an airborne or balloon-based platform. Because of Spire’s ability to provide high-quality commercial data for NOAA’s weather forecast models and the company's existing work with RAL Space and the U.K. Government to develop Hyperspectral Microwave Sensors, NOAA will be able to harness Spire’s expertise and innovative solutions from the ultimate vantage point, space. The HyMS instrument is a new, advanced millimeter wave technology that delivers microwave sounding information to measure atmospheric moisture.

“In this era of extreme weather, the need to leverage data from space to deliver more accurate weather forecasts has never been more critical. NOAA’s continued priority to collaborate with earth observation companies allows us to better predict, adapt to and mitigate the impacts of climate change,” said Kamal Arafeh, Senior Vice President of Global Sales, Spire. “We are thrilled to expand our work with NOAA to develop a payload that will collect additional near real-time weather observations and improve measurements within and beneath clouds.​​”

Spire has been awarded a total of four NOAA contracts in FY22, valued at $23.6 Million. While previous NOAA contracts have focused on the purchase of radio occultation profiles, the HyMS contract is the first award to utilize Spire’s pioneering Space Services (S3) Model.

With a fully deployed constellation of more than 100 satellites, Spire is the largest producer of radio occultation data and offers a vast portfolio of current weather, historical weather data, and weather forecasts solutions.

About Spire Global, Inc.

Spire (NYSE: SPIR) 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, Ontario, Glasgow, Oxfordshire, Luxembourg, and Singapore. To learn more, visit www.spire.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220926005215/en/

Media:

Hillary Yaffe

Head of Communications

hillary.yaffe@spire.com

Investors:

Benjamin Hackman

Head of Investor Relations

benjamin.hackman@spire.com

Source: Spire Global, Inc.

FAQ

What is the significance of Spire's contract with NOAA for SPIR investors?

Spire's contract with NOAA could positively impact SPIR investors by enhancing the company's revenue and solidifying its role in weather forecasting.

How much is the NOAA contract with Spire Global worth?

The NOAA contract awarded to Spire Global is valued at $23.6 million.

What technology is Spire developing for NOAA?

Spire is developing a hyperspectral microwave sensing (HyMS) technology to improve weather predictions.

How does Spire's technology help with weather forecasting?

Spire's hyperspectral microwave sensing technology aims to enhance measurement of atmospheric moisture, thereby improving the accuracy of weather forecasts.

What was the previous focus of NOAA contracts awarded to Spire?

Previous contracts primarily focused on the purchase of radio occultation profiles, differentiating from the new HyMS contract.