Establishing a sustainable and cost-effective Earth Observation program

Satellogic, a leader in sub-meter resolution satellite imagery collection, announced today that it has signed a letter of intent (the “LOI”) with Agencia Espacial del Paraguay (“AEP”) to develop a Space-as-a-Service program for the country. As a result of this LOI, Satellogic and AEP will undertake various technological and scientific projects in accordance with AEP’s Institutional Strategic Plan and the Space Policy of Paraguay.

The LOI provides a framework for the start-up and development of a dedicated satellite constellation network. Satellogic’s Dedicated Satellite Constellation Program enables municipal, state, and national governments to manage a fleet of satellites over a specific area of interest and develop a geospatial imaging program at unmatched frequency, resolution, and cost.

“The Dedicated Satellite Constellation Satellogic will develop for AEP is a low-risk, cost-effective Space-As-A-Service model tailored for AEP and the Republic of Paraguay,” said Luciano Giesso, Sales Director for Satellogic. “Latin America is increasingly focused on space technologies to create new infrastructures to unlock the benefits of satellite data across many industries. This region continues to be an area of focus for us, uncovering huge opportunities for new space activities and projects.”

Countries unequipped with their own satellites orbiting the Earth are limited in their ability to capture data about their policy implementation and infrastructure. Satellogic’s Dedicated Satellite Constellation Program expands access to geospatial analytics and insights that contribute to strategic national interests, with no capital outlay and no technical or operational risks.

“This is the first agreement of this kind signed between AEP and a global space company, contributing to aerospace development for the public and private sectors of Paraguay, and establishing a sustainable system for our Space Agency purposes,” expressed Alejandro Román, General Director of Aerospace Development for AEP. “Satellogic is building the first scalable, high-resolution, earth-observation platform, and they could become the ideal partner to leverage outer space peacefully for the benefit of the Paraguayan population and the development of our country on new satellite technologies.”

With access to Satellogic's Dedicated Satellite Constellation Program, governments of all sizes are now able to develop unique earth-observation programs to support key decisions and manage policy impact, measure investment and socio-economic progress, and foster collaboration, data and information sharing, and innovation.

About Satellogic

Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is building the first scalable, fully automated Earth Observation 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 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 Earth Observation (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.

More details can be found on Satellogic’s Investor Webpage: https://satellogic.com/investors/.

About AEP

The Paraguayan Space Agency, AEP, created by Law No. 5151/14, is the implementing authority, the governing authority for research, development, and innovation of space activities in the Republic of Paraguay, aimed at understanding, designing, proposing and implementing policies and programs in the field of space, aerospace, under the Presidency of the Republic.

The AEP, the Paraguayan State's counterpart in space matters with foreign space agencies, has as its general objective, to promote and manage the development of national space activities, fostering the technological innovation that is necessary to achieve and conduct the peaceful uses of outer space.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements.” All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company’s proxy statement/prospectus that has been filed with the Securities and Exchange Commission and available on the SEC’s website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211026005249/en/