Spire Global Launches Space-Driven High-Resolution Weather Forecast for Utilities and Commodity Traders

Rhea-AI Summary

Spire Global, Inc. (SPIR) launches High-Resolution Weather Forecast model to cater to energy and commodity markets. The service offers up to six-day lead time and 1-km resolution, providing precise and customizable weather forecasts. Spire's solution is powered by proprietary radio occultation (RO) technology, ocean wind, and soil moisture data, providing essential insights for energy traders, commodity traders, utilities, and grid operators.

With an up to six-day lead time and 1-km resolution, the weather forecast aims to equip energy and commodity markets with customizable, high-resolution forecasts

VIENNA, Va.--(BUSINESS WIRE)-- Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a global provider of space-based data, analytics and space services, announced the launch of its High-Resolution Weather Forecast model, a differentiated regional high-resolution weather forecasting service designed to meet the critical demands of the energy and commodity markets. The solution provides precise and customizable weather forecasts extending up to six days, with the capability to be run at resolutions as fine as 1 kilometer, covering any point on the globe, including the most remote regions and the open oceans.

Built upon seven years of research and development by Spire’s team of scientists and engineers, the High-Resolution Weather Forecast is powered by the Company’s proprietary radio occultation (RO) technology, ocean wind and soil moisture data. This unique data is assimilated to ensure accurate predictions at fine scales up to six days into the future. Spire’s High-Resolution Weather Forecast equips energy traders, commodity traders, utilities, grid operators and more with the crucial insights needed to anticipate weather's influence on price dynamics, market trends and energy supply and demand.

"In an industry where volatile weather patterns directly impact commodity and energy prices, accurate weather prediction tools are crucial for risk management, optimizing investments and achieving a balance between energy production and consumption,” said Michael Eilts, general manager of weather and Earth intelligence at Spire. “Our regional high-resolution weather forecasts provide the essential insights needed to make informed decisions and stay ahead of the markets.”

Key features of the High-Resolution Weather Forecast include:

• Advanced Data Assimilation: Spire assimilates proprietary data, including RO, ocean winds and soil moisture, from its multipurpose constellation of 100+ satellites into its High-Resolution Weather Forecast for precise weather forecasts. Additionally, the model incorporates data from leading trusted public sources such as NOAA, EUMETSAT and ECMWF.
• Customization: Customers can configure forecasts by selecting the domain size, frequency and resolution down to 1 kilometer, with scheduling that caters to their specific needs.
• Proven Accuracy: Backed by a team of expert scientists, meteorologists and engineers, the forecast consistently delivers precise and reliable forecasts, empowering clients across various industries to make well-informed decisions.
• Up to Six-Day Lead Time: Offering up to a six-day outlook, the forecast provides an extended planning horizon, enabling businesses to proactively address weather-related challenges with effective preparation and decision-making.
• 24/7 Weather Support: Spire's 24/7 Weather Desk Services team, a dynamic group of expert meteorologists, provides round-the-clock support and guidance during disruptive weather events.

The High-Resolution Weather Forecast joins Spire's suite of Weather and Earth intelligence solutions, including global weather forecasts, proprietary data sources like ocean winds and soil moisture, and additional atmospheric weather datasets.

Learn more about Spire’s High-Resolution Weather Forecast.

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 U.S., Canada, UK, Luxembourg, Germany and Singapore. To learn more, visit spire.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231128866783/en/

For Media:

Sarah Freeman

Communications Manager

Sarah.Freeman@spire.com

For Investors:

Benjamin Hackman

Head of Investor Relations

Benjamin.Hackman@spire.com

Source: Spire Global, Inc.

FAQ

What is the new service launched by Spire Global, Inc. (SPIR)?

Spire Global, Inc. (SPIR) has launched the High-Resolution Weather Forecast model.

What are the key features of the High-Resolution Weather Forecast?

The key features include advanced data assimilation, customization, proven accuracy, up to six-day lead time, and 24/7 weather support.

Who can benefit from Spire's High-Resolution Weather Forecast?

Energy traders, commodity traders, utilities, and grid operators can benefit from the precise and customizable weather forecasts provided by Spire's new service.

What technology powers Spire's High-Resolution Weather Forecast?

Spire's High-Resolution Weather Forecast is powered by the Company’s proprietary radio occultation (RO) technology, ocean wind, and soil moisture data.

How long is the lead time for the weather forecasts provided by Spire's new service?

The forecast offers up to a six-day lead time, providing an extended planning horizon for businesses to proactively address weather-related challenges.