July 3, 2023
Satellogic and OHB sign MoU for the development of joint Earth Observation applications
The agreement is aimed at expanding opportunities in Europe for a greener and more sustainable planet
New York, NY – July 3, 2022 – Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation data (“EO”) collection, announced today that it has signed a memorandum of understanding (“MoU”) with OHB SE, a German-based aerospace and technology group (“OHB”). Together, the companies plan to explore collaborative opportunities to develop advanced EO data based services, leveraging Satellogic’s growing constellation of high-resolution EO satellites. The agreement underlines the joint commitment of the two companies to support the use of EO data and products for a greener and more sustainable planet, including applications for day-to-day decision-making in the fields of agriculture, forestry, energy, critical infrastructures, and climate change mitigation.
“In today’s fast-moving space world, cooperation between different players is essential and mutually beneficial,” said Ermanno Chiri, Corporate and Business Strategy Manager at OHB. “By collaborating with Satellogic, we will further expand our Earth observation capabilities and we are very proud that this collaboration will enable new solutions to promote sustainability and environmental protection.”
The collaboration between OHB and Satellogic aims at developing cost-effective and sustainable services through the mutual promotion of EO products, with a focus on downstream applications, and will drive the adoption of EO imagery and value-added services in various markets, including agriculture and urban solutions for commercial and institutional customers.
OHB has been an active player in the EO downstream market for several years following the establishment of the “DIGITAL” business unit in 2020 and is involved in the partnership with multiple subsidiaries: OHB System AG, OHB Digital Connect GmbH, OHB Digital Services GmbH and GEOSYSTEMS GmbH.
“To find the right answer to customer problems, services need to work with appropriate data,” explained Irmgard Runkel, Managing Director of OHB GEOSYSTEMS. “In most cases, we are looking for high-frequency and high-resolution data. Satellogic has an intelligent concept that meets these requirements. We see great potential for this data in different application areas and working with Satellogic allows us to improve our solution by using their data.”
Luciano Giesso, Head of Global Government Sales at Satellogic, added: “This collaboration with OHB marks an important milestone in Satellogic’s mission to democratise access to Earth Observation and establishes the foundations for a European integrated data and analytics platform. We are enthusiastic about the opportunities this will offer European users to improve their decision-making process through high-revisit, high-resolution data enabled insights in areas ranging from agriculture, urban development, security, and more.”
Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic (NASDAQ: SATL) is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is creating and continuously enhancing the first scalable, fully automated EO platform with the ability to remap the entire planet at both high-frequency and high-resolution, providing accessible and affordable solutions for customers.
Satellogic’s mission is to democratize access to geospatial data through its information platform of high-resolution images to help solve the world’s most pressing problems including climate change, energy supply, and food security. Using its patented Earth imaging technology, Satellogic unlocks the power of EO to deliver high-quality, planetary insights at the lowest cost in the industry.
With more than a decade of experience in space, Satellogic has proven technology and a strong track record of delivering satellites to orbit and high-resolution data to customers at the right price point.
To learn more, please visit: http://www.satellogic.com
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on Satellogic’s current expectations and beliefs concerning future developments and their potential effects on Satellogic and include statements concerning Satellogic’s strategies, Satellogic’s future opportunities, and the commercial and governmental applications for Satellogic’s technology. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve, and must not be relied on by an investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Satellogic. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) Satellogic’s ability to scale its constellation of satellites and to do so on Satellogic’s projected timeframe and in accordance with projected costs, (ii) Satellogic’s ability to continue to meet image quality expectations, to continue to enhance the capability of its network of satellites and to continue to offer superior unit economics, (iii) Satellogic’s ability to become or remain an industry leader, (iv) the number of commercial applications for Satellogic’s products and services, (v) Satellogic’s ability to address all commercial applications for satellite imagery, changes in the competitive and highly regulated industries in which Satellogic operates, variations in operating performance across competitors and changes in laws and regulations affecting Satellogic’s business, (vi) the ability to implement business plans, forecasts and other expectations, and to identify and realize additional opportunities, (vii) the risk of downturns in the commercial launch services, satellite and spacecraft industry, (viii) the risk that the market for Satellogic’s products and services does not develop as anticipated, (ix) the risk that Satellogic and its current and future collaborators are unable to successfully develop and commercialize Satellogic’s products or services, or experience significant delays in doing so, (x) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (xi) the risk of product liability or regulatory lawsuits or proceedings relating to Satellogic’s products and services, and (xii) the risk that Satellogic is unable to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Satellogic’s Annual Report on Form 20-F and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations.
Chris Tyson/Larry Holub