Spire Global Chosen to Aid in Maritime Collision Avoidance Research

Rhea-AI Summary

Spire Global, Inc. (NYSE: SPIR) has announced an extension of its subscription agreement with LatConnect 60, an Australian satellite data provider, for its Automatic Identification System (AIS) vessel tracking data. This partnership coincides with a federal grant awarded to LatConnect 60 and Curtin University for research on maritime collision avoidance. The project aims to enhance maritime safety by utilizing Spire's satellite data and developing algorithms for better traffic predictions, ultimately reducing collision risks in shipping lanes.

Positive

• LatConnect 60 extends subscription to Spire's AIS data, indicating strong customer retention.
• The partnership with Curtin University supports significant research aimed at improving maritime safety.
• Grant funding from the Australian Research Council highlights the project's credibility and potential impact.

Negative

• None.

Longtime Customer LatConnect 60 in Partnership with Curtin University Awarded Australian Research Council (ARC) Federal Grant

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 that LatConnect 60, an Australian-based satellite data and insights provider, has extended their subscription to Spire’s Automatic Identification System (AIS) vessel tracking data. LatConnect 60 and Curtin University, Western Australia’s largest university, have recently been awarded a federal grant from the Australian Research Council (ARC) to conduct research on maritime collision avoidance in shipping lanes.

LatConnect 60 and Curtin University’s Intelligent Sensing & Perception Laboratory, led by Professor Ba-Ngu Vo, are creating sensor fusion algorithms to help solve this industry-wide issue, using data from satellite sensors, primarily Spire’s maritime domain awareness information. Incorporating this intelligence into maritime traffic monitoring systems is expected to result in more effective collision and contact avoidance strategies and contribute to more accurate predictions of traffic patterns for ship owners and insurers.

LatConnect 60 will use Spire's space-based data as a foundation on which to layer other data sources like satellite imagery, drones, and IoT sensors, to get near real time appraisal of movements in specific areas of interest. Regular and timely AIS data like Spire’s is a critical piece of this solution to support the accuracy and reliability of collision, contact, and traffic prediction algorithms, decreasing the risk of collisions in narrow shipping lanes, and in turn lowering insurance premiums for operators that adopt the solution.

“LatConnect 60 is a valuable and long standing Spire customer. We’re thrilled to expand our relationship with them to help power the important research at Curtin University,” said Mark Dembitz, APAC Sales Director of Maritime Solutions. “Partnerships between government, academia, and industry can tackle tough challenges. With this initiative, we will work to lower the risk of maritime collisions to make Australia, and the world, a safer place.”

“Spire’s advanced AIS data has provided significant value to us and we’re thrilled to build on our partnership to enhance our capabilities,” said LatConnect 60 CEO, Venkat Pillay. “Incorporating Spire’s proprietary data into our research work with Curtin University will allow unprecedented insight into the real-time location of vessels, helping avoid collisions and create a safer and more profitable maritime industry.”

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 LatConnect 60

LatConnect 60 is an Australian company founded in Perth, Western Australia that provides vital insights for our world. LatConnect 60 is planning to launch its own Low Earth Orbit (LEO) smart satellite constellation in 2022 which is expected to have a global service reach.

LatConnect 60 serves government and commercial clients by providing greater control, exclusivity and flexibility of critical EO data products and analytics services, in an affordable and accessible manner. It has developed significant patented IP in this domain and is working with leading Australian research and development institutions to deploy its innovative LEO analytics capabilities both on-orbit and in the field.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211005005311/en/

For Spire Global, Inc.:

Janine Kromhout

janine.kromhout@spire.com

(650) 269-1417

Source: Spire Global, Inc.

FAQ

What recent partnership did Spire Global announce?

Spire Global announced an extension of its subscription with LatConnect 60 for AIS vessel tracking data.

What research is being funded by the recent Australian grant awarded to LatConnect 60?

The research focuses on maritime collision avoidance in shipping lanes.

How does Spire's data contribute to maritime safety?

Spire's satellite data is used to develop algorithms for more accurate traffic predictions and collision avoidance.

What is the significance of the partnership between LatConnect 60 and Curtin University?

The partnership aims to leverage Spire's data to enhance maritime safety and reduce collision risks.

What is the stock symbol for Spire Global?

The stock symbol for Spire Global is SPIR.