Spire Global Awarded $8 Million NOAA Contract to Deliver Satellite Weather Data

Rhea-AI Summary

Spire Global, Inc. (NYSE: SPIR) has been awarded an $8 million contract by the National Oceanographic and Oceanic Administration (NOAA) for space-based radio occultation (RO) data to enhance weather forecasting. The contract increases the number of RO profiles provided from 3,000 to 5,500, confirming Spire's reliability in delivering operational RO data. This award emphasizes NOAA's commitment to sourcing commercial data, which is significantly cheaper than government missions, underscoring the partnership's long-term viability.

Positive

• Awarded an $8 million contract from NOAA, the largest U.S. government purchase of commercial RO data.
• Increased RO profiles from 3,000 to 5,500, enhancing weather forecasting capabilities.
• Commercially sourced data is substantially cheaper than government-sponsored missions, reinforcing long-term partnership viability.
• Operational RO data will be available in near-real-time, aiding national and international meteorological organizations.

Negative

• None.

Expanded Weather Data Purchase to Improve Forecasting

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 as part of Indefinite Delivery Indefinite Quantity (IDIQ) Delivery Order 4 of the contract issued by the National Oceanographic and Oceanic Administration (NOAA), for commercially available space-based radio occultation (RO) data for use in operational weather forecasts. The award, valued at over $8 million, represents the single largest U.S. government purchase of commercial, operational RO data.

The award is the next milestone in NOAA's goal to expand the purchase of commercial RO data. It is an increase in the number of RO profiles that Spire provides NOAA from 3,000 to 5,500, serving as a testament to Spire's proven ability to reliably deliver valuable, operational RO data, profiling atmospheric temperatures and related quantities for weather models helping NOAA and as a result American citizens prepare for extreme weather events.

In addition to the forecast accuracy benefits, NOAA recently announced commercially sourced data was about one-quarter to one-half the cost of government-sponsored missions, further demonstrating the long-term viability of partnering with Spire. Spire’s constellation of more than 100 satellites collects more RO profiles than any other organization across the globe.

“With a continual increase in extreme weather patterns, the U.S. has taken the important step to protect its citizens by continually investing and upgrading its weather forecast capabilities,” said Kamal Arafeh, Senior Vice President of Sales, Spire. “This award is the culmination of years of our team's hard work to develop, manufacture and operate a constellation of satellites that leverage the powerful vantage point of space to improve life on Earth. We are honored to further our partnership with NOAA on their important work in addressing one of humanity’s greatest challenges amid climate change - accurate weather forecasting.”

Spire's data provided to NOAA will be made available in near-real-time to national and international meteorological organizations and the broader U.S. federal government upon receipt, enabling increased information sharing for critical weather data. The data delivery will commence on March 16, 2022 and run until January 18, 2023.

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, Cambridge, Ontario, Glasgow, Luxembourg, and Singapore. To learn more, visit http://www.spire.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220211005506/en/

For Spire Global, Inc.:

Hillary Yaffe

Hillary.Yaffe@spire.com

Source: Spire Global, Inc.

FAQ

What does Spire Global's $8 million contract with NOAA involve?

The contract involves providing space-based radio occultation data to improve operational weather forecasts.

How many RO profiles will Spire provide to NOAA under the new contract?

Spire will provide 5,500 RO profiles, an increase from the previous 3,000.

When does Spire's data delivery to NOAA commence?

Data delivery will start on March 16, 2022.

What is the financial value of the contract awarded to Spire by NOAA?

The contract is valued at over $8 million.

How does commercially sourced data compare to government-sponsored missions in terms of cost?

Commercially sourced data is about one-quarter to one-half the cost of government-sponsored missions.