Spire Global Awarded National Oceanographic and Oceanic Administration Contract for Satellite Weather Data

Rhea-AI Summary

Spire Global, Inc. (NYSE: SPIR) has secured an Indefinite Delivery Indefinite Quantity (IDIQ) contract from NOAA, valued at a ceiling of $59 million, effective March 27, 2023, to March 26, 2028. This contract allows Spire to provide critical near-real-time radio occultation data, enhancing NOAA's weather forecasts and climate research capabilities. As the largest producer of RO data, Spire operates over 100 satellites, currently delivering 20,000 profiles daily, with the potential to reach 100,000 profiles in 18-24 months. This contract builds upon a strong partnership as Spire previously received $23.6 million in NOAA contracts in FY22.

Positive

• Secured a $59 million contract from NOAA to provide radio occultation data.
• Contract enhances NOAA's weather forecasting capabilities and climate research.
• Possibility to increase data delivery from 20,000 profiles to 100,000 profiles per day.
• Continuation of a successful partnership with NOAA, with previous contracts awarded.

Negative

• None.

The Company is the largest producer of radio occultation and has provided data to NOAA since 2016

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, has been awarded an Indefinite Delivery Indefinite Quantity (IDIQ) contract by the National Oceanographic and Oceanic Administration (NOAA) to compete for orders under a $59 million ceiling. The award is part of NOAA’s Commercial Weather Data Program's Radio Occultation Data Buy II. The contract commenced on March 27, 2023 and will run until March 26, 2028.

Spire will provide NOAA with near-real-time RO data that consists of vertical profiles of atmospheric measurements, including pressure, humidity and temperature across all points of the globe, as well as ionospheric measurements. The data will be used for NOAA’s operational weather forecasts, space weather models and climate research, among other applications.

Spire is the largest producer of RO data, powered by its fully deployed constellation of more than 100 satellites, and offers a vast portfolio of current weather, historical weather data, and weather forecast solutions. The Company is currently capable of providing 20,000 RO profiles per day and could achieve up to 100,000 profiles per day in as little as 18-24 months.

“Better predicting weather patterns and understanding our climate is one of the most important challenges — and opportunities — of our time,” said Chuck Cash, Vice President of Federal Sales, Spire. “Our long-standing relationship with NOAA demonstrates the value of assimilating commercial satellite data into weather models to improve forecasts. Armed with more accurate forecasts, we as a society are able to better prepare for and mitigate the impacts of extreme weather to protect our property, environment, and most importantly, lives.”

Spire was awarded a total of four NOAA contracts in FY22, valued at $23.6 million, and has provided data to the agency since 2016.

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 multipurpose 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 eight offices across the U.S., Canada, UK, Luxembourg and Singapore. To learn more, visit www.spire.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230327005180/en/

Kristina Spychalski

Director of Communications

Kristina.Spychalski@spire.com

Benjamin Hackman

Head of Investor Relations

Benjamin.Hackman@spire.com

Source: Spire Global, Inc.

FAQ

What is the value of Spire Global's contract with NOAA?

The contract with NOAA is valued at a ceiling of $59 million.

When does Spire's NOAA contract start and end?

The contract commenced on March 27, 2023, and will run until March 26, 2028.

How many radio occultation profiles can Spire provide daily?

Spire currently provides 20,000 radio occultation profiles per day, with potential to increase to 100,000.

What is the purpose of the data provided by Spire to NOAA?

The data is used for NOAA's operational weather forecasts, space weather models, and climate research.