Spire Global Awarded $9.4 Million Contract by NOAA for Satellite Weather Data
Vienna, Va. - Spire Global, Inc. (NYSE: SPIR), a prominent global provider of space-based data, analytics, and space services, has recently secured a significant contract worth $9.4 million from the National Oceanographic and Oceanic Administration (NOAA). The contract aims to provide radio occultation (RO) data for a duration of eight months and is part of NOAA’s Commercial Weather Data Program’s Radio Occultation Data Buy II.
Under this contract, Spire Global will be responsible for delivering near-real-time RO data to NOAA, a crucial component in advancing weather forecasting and climate modeling technologies. Radio occultation, a technique that measures the bending of radio waves as they pass through the Earth’s atmosphere, provides valuable atmospheric data. This information greatly enhances the accuracy of weather forecasts, particularly for high-impact weather events such as hurricanes, storms, and severe weather conditions.
The 8-month contract is an Indefinite Delivery Indefinite Quantity (IDIQ) agreement, allowing NOAA to leverage Spire Global’s cutting-edge space-based data and analytics services for the duration of their program. This partnership not only facilitates NOAA’s commitment to advancing weather forecasting capabilities but also promotes the efficient utilization of commercial satellite data by government agencies.
This recent achievement further solidifies Spire Global’s position in the market as a leading provider of space-based insights. Over the corresponding period, Spire Global Inc reported a remarkable year-on-year revenue increase of 33.33%. Furthermore, the company experienced a sequential revenue growth of 7%. Despite challenging circumstances, Spire Global Inc successfully expanded its corporate clientele, a testament to its innovative solutions and exceptional service delivery.
The collaboration between Spire Global and NOAA underscores the significance of public-private partnerships in advancing scientific research and enhancing weather prediction capabilities. By harnessing the power of space-based data and the expertise of Spire Global, NOAA aims to improve the accuracy and timeliness of weather forecasts, empowering decision-makers, emergency responders, and communities at large to mitigate the impacts of extreme weather events effectively.
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