TASL to establish an Assembly, Integration, and
Testing (“AIT”) facility for satellites in India and co-develop a
satellite design with Satellogic
Tata Advanced Systems Limited (“TASL”), India’s leading private
sector player for aerospace and defense solutions, and Satellogic
Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth
Observation (“EO”) data collection, today announced their
collaboration for establishing and developing local space
technology capabilities in India. This collaboration is a first
step in TASL’s satellite strategy and a significant milestone for
Satellogic as it enters the fast-growing Indian defense and
commercial market.
The project will commence with comprehensive training, knowledge
transfer, and local assembly of optical sub-meter resolution EO
satellites, the first of which is planned to be launched as
TSAT-1A. The focus will be on manufacturing satellites and
developing imagery in India for national defense and commercial
applications, toward which TASL is commissioning a satellite AIT
plant at its Vemagal facility in Karnataka.
Sukaran Singh, Chief Executive Officer and Managing Director,
TASL, said, “Space is important to TASL not just as a business but
also due to its culture of precision that will help other
activities in TASL. We are pleased to announce our collaboration
with Satellogic, a company with best-in-class technology and an
entrepreneurial mindset. Additionally, TASL will also work with
local SMEs for payloads and other technologies to bolster India
content.”
TASL and Satellogic will collaborate on the development of a new
satellite design and work together to integrate multiple payloads
on a single satellite that will generate a diverse range of data
over India.
“One of our core values at Satellogic is accessibility. This
collaboration will accelerate space capacity building for one of
the largest nations in the world with the goal of enabling the
advancement of commercial space capabilities and greater access to
critical information for a range of applications such as security,
sustainability, and energy,” stated Emiliano Kargieman, Chief
Executive Officer and Founder at Satellogic. “It's a great example
of what’s possible via the Satellogic Space Systems program,” he
added.
This contract marks Satellogic’s second Space Systems customer,
following an agreement with an international space agency.
About Tata Advanced Systems Limited
Tata Advanced Systems Limited (TASL), a wholly owned subsidiary
of Tata Sons, is a significant player for aerospace and defense
solutions in India. TASL offers a full range of integrated
solutions across: Aerostructures & Aeroengines, Airborne
Platforms & Systems, Defense & Security, Land Mobility.
TASL has a strong portfolio of partnerships and joint ventures with
leading global aerospace and defense firms, making it an integral
partner in the international supply chain and in some instances, a
global single source provider for leading defense OEMs. With the
requisite capabilities, resources and scale, TASL is equipped to
deliver end-to-end innovative solutions throughout the entire
aerospace value chain from design to full aircraft assembly, and is
well positioned in areas that include missiles, radars, unmanned
aerial systems, artillery guns, command and control systems,
optronics, homeland security and land systems.
About Satellogic
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
Forward-Looking Statements
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”,
“intends”, “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, including such opportunities in
India, (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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231129303574/en/
Media relations:
Tata Advanced Systems Limited Sarika Kapoor Chokshi
skchokshi@tataadvancedsystems.com
Satellogic pr@satellogic.com
Investor Relations:
Satellogic / MZ Group Chris Tyson/Larry Holub (949)
491-8235 SATL@mzgroup.us
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