Spire Global Inc Stock Price, News & Analysis

Spire Global, Inc. (NYSE: SPIR) has appointed Dr. Kevin Petty as Vice President of Weather. Based in Boulder, CO, he will lead the company’s weather solutions and guide its weather data offerings across various sectors, including Maritime and Aviation. Dr. Petty, formerly with The Weather Company, brings extensive experience in atmospheric science and a Ph.D. from Ohio State University. This appointment aims to enhance Spire's weather analytics amid increasing climate challenges.

Spire Global (NYSE: SPIR) has partnered with SpaceChain to launch a mission demonstrating blockchain technology computation in space. This collaboration aims to decentralize data access, enhancing data security and resilience. Utilizing Spire's SABERTOOTH supercomputing module, the two companies will initially upload SpaceChain's software to an existing satellite, with plans for further development on a new satellite later this year. This initiative positions both companies at the forefront of integrating space and blockchain technologies, advancing the new space economy.

Spire Global (NYSE: SPIR) has announced a strategic partnership with Myriota to enhance its satellite connectivity services for the Internet of Things (IoT). This collaboration aims to expedite the deployment of Myriota’s global network through Spire’s low-earth orbit nanosatellites. The partnership will improve coverage in markets such as North America, Australia, New Zealand, and Europe, providing low-latency services for various industries including logistics and agriculture. Myriota anticipates rapid expansion and enhanced service offerings through this agreement.

Spire Global (NYSE: SPIR) announced its acquisition of exactEarth for approximately US$161.2 million. This strategic move will enhance Spire's maritime data offerings, expanding its customer base by over 75% and introducing new subscription-based revenue streams. The deal involves CAD$204.2 million in cash and stock, valuing exactEarth at about 9.1x its enterprise value to LTM revenue. The transaction is expected to close in 4Q21 or 1Q22, pending regulatory approvals.

Spire Global, Inc. (NYSE: SPIR) announced its participation in the RBC Capital Markets Global Industrials Virtual Conference, where CEO Peter Platzer will engage in a fireside chat on September 10 at 10:00 AM ET. The conference offers opportunities for one-on-one meetings with Spire executives. Spire is recognized for its space-based data and analytics services, providing valuable insights to organizations globally. Its operations are supported by a robust satellite constellation, enhancing decision-making and operational efficiency.

Spire Global, Inc. (NYSE: SPIR) has secured a significant order from NOAA to provide commercial radio occultation (RO) weather data, marking the largest purchase of its kind by the agency. This six-month contract entails delivering 3,000 RO profiles daily, enhancing NOAA's weather forecasting capabilities and data assimilation in national models. The increased data volume aims to improve accuracy and reduce forecasting uncertainty, ultimately protecting lives and saving costs related to extreme weather events.

Spire Global, Inc. (NYSE: SPIR) has formed a strategic partnership with Mantle Labs to enhance risk assessment solutions for agriculture. This collaboration aims to provide farmers and agri-businesses with advanced warnings on crop health and weather conditions, especially in under-monitored regions across Southeast Asia, India, South America, and Africa. By combining Spire’s satellite data with Mantle's AI-driven analytics, the partnership promises to improve weather forecasting and empower farmers to anticipate risks and enhance productivity.

Spire Global, Inc (NYSE: SPIR) has secured significant funding from the UK Government's Defence and Security Accelerator (DASA) as part of the Space to Innovate Campaign. This award, the largest for a Scottish innovator, will enhance Spire’s ability to detect and geolocate radio frequency (RF) signals using its low earth orbit nanosatellite constellation. The project aims to support UK defense activities and promote space resilience, with a focus on L-Band SATCOM signals. Spire’s commitment underlines its role in advancing space technology and defense capabilities.

Spire Global, Inc. has completed its business combination with NavSight Holdings, taking Spire public. The combined company will trade on NYSE starting August 17, 2021, under the ticker symbol SPIR. The transaction generated approximately $265 million in gross proceeds, including $20 million in cash and a $245 million PIPE. CEO Peter Platzer aims to enhance Spire's position in space-based data and analytics, focusing on faster data provision to customers. The management team remains unchanged, with Jack Pearlstein joining the board of directors.