Spire Global Awarded $9.4 Million Contract by NOAA for Satellite Weather Data
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Insights
The award from NOAA to Spire Global for the provision of radio occultation (RO) data signifies a substantial step in the enhancement of meteorological services. RO data is critical in refining weather prediction models by providing precise atmospheric measurements. The integration of such data into NOAA's forecasting systems can lead to significant improvements in the accuracy of weather forecasts. This is particularly vital in the context of increasing extreme weather events, which have profound implications for agriculture, transportation and disaster management sectors. The allocation of funds towards improving weather data infrastructure can be seen as an investment in public safety and economic stability, as better forecasts can mitigate the impact of weather-related disruptions.
Spire Global's $9.4 million contract with NOAA under the IDIQ framework represents a revenue stream that is both significant and strategic. The company's specialization in space-based data is a niche but growing area in the aerospace and defense industry, which is increasingly leveraging commercial capabilities for governmental needs. This contract not only bolsters Spire's financial position in the short term but also reinforces its standing as a reliable provider for government contracts. Investors should note that consistent government contracts like these can provide a stable and recurring revenue source, which is beneficial for the company's long-term financial health. Furthermore, Spire's ability to secure repeated contracts from NOAA since 2016 suggests a competitive edge and a strong track record in delivering valuable data, which could be indicative of future contract renewals and potential for growth.
The procurement of RO data by NOAA through Spire's satellite constellation is a critical component in the broader context of climate research. The data's application in climate modeling can provide insights into long-term climate patterns and contribute to our understanding of climate change. By enabling more accurate and detailed climate models, policymakers and researchers can better predict and prepare for climate-related changes. This has far-reaching implications, from informing international climate agreements to guiding local adaptation strategies. The investment in such data collection technologies reflects a growing recognition of the importance of climate resilience for economic stability and sustainability.
Radio occultation data collected by the Company's satellite constellation improves the accuracy of global weather forecasts
The near-real-time RO data provided by Spire will be used for NOAA’s operational weather forecasts, space weather models and climate research, among other applications. The Company’s RO data consists of vertical profiles of atmospheric measurements, including pressure, humidity and temperature across all points of the globe.
“The increasing pace of extreme weather events is causing significant harm – impacting individuals, communities, businesses, and the economy at large,” said Chuck Cash, vice president of federal sales, Spire. “Through our long-standing relationship with NOAA, we are using space-based radio occultation measurements to address the critical need for accurate weather forecasts globally and help the world better prepare for and mitigate the impacts of extreme weather.”
Spire has provided data to the agency since 2016. Most recently, the Company was awarded a
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 nine offices across the
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Media Contacts
Sarah Freeman
Communications Manager
Sarah.Freeman@spire.com
Benjamin Hackman
Head of Investor Relations
Benjamin.Hackman@spire.com
Source: Spire Global, Inc.
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