Expansion of Commercial Partnership Triples
SynMax's Oil and Natural Gas Wellhead Coverage Powered by
Satellogic’s Cost-Effective Fleet of High Resolution Satellites
Satellogic to Provide Imagery via SynMax’s
Hyperion Platform; Further Solidifying Company as a Leader in
Providing Earth Observation Data to Power Enterprise Decision
Making
Satellogic Inc. (NASDAQ: SATL) today announced an expansion of
its contract with SynMax, a leading U.S. satellite data analytics
firm. SynMax will leverage Satellogic’s high-frequency,
high-resolution imagery to enhance its Hyperion platform,
delivering unparalleled oil and natural gas production monitoring
for hedge funds and financial analysts.
Triple Coverage for Real-Time Oil Production Insights
Under the contract, Satellogic will triple the number of
wellheads monitored by SynMax across North America to more than
100, providing imagery multiple times per week. Hyperion’s near
real-time insights into drilling rig and frac crew activity give
analysts an edge in predicting short-term changes in oil and
natural gas production on a per-wellhead basis.
Meeting the Needs of Financial Markets
This collaboration supports SynMax’s growing services in the
financial sector, enabling the tracking of new wellheads, globally,
as they come online. Satellogic’s monitoring frequency and
precision make innovative investment intelligence solutions viable
for commercial energy markets.
“Satellogic’s cost-effective, high-frequency, high-resolution
imagery offers a significant advantage over traditional
ground-based and observational methods of monitoring,” said Mark
Carmichael, VP of Sales at Satellogic.
Shaping the Future of Investment Intelligence
“SynMax is committed to delivering actionable insights that
drive investment alpha,” said Eric Anderson, co-founder and CTO of
SynMax. “Our partnership with Satellogic enhances our ability to
provide clients with timely, accurate production data to inform
their trading strategies. We look forward to a continued and
growing partnership.”
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
About SynMax
SynMax is a satellite data analytics company which specializes
in the use of commercial satellite images to find and monitor oil
and gas assets and provide maritime intelligence data.
SynMax – Hyperion is the world’s only near real-time frac crew
monitor which makes daily observations of frac activity in every
major oil and gas play in the US. Hyperion has used this
proprietary satellite data to build a first of its kind short term
oil and gas production model which can predict near-term changes in
oil and gas production.
SynMax – Theia is a comprehensive maritime domain awareness
solution providing daily global monitoring of all vessels 30m and
above across millions of km2 of ocean.
Our proprietary AI enables maritime event detection at strategic
and tactical levels and detection of true dark ships.
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, including its plans to redomicile in the
U.S., Satellogic’s future opportunities and financial performance,
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)
our ability to generate revenue as expected, (ii) our ability to
effectively market and sell our EO services and to convert
contracted revenues and our pipeline of potential contracts into
actual revenues, (iii) risks related to the secured convertible
notes, (iv) the potential loss of one or more of our largest
customers, (v) the considerable time and expense related to our
sales efforts and the length and unpredictability of our sales
cycle, (vi) risks and uncertainties associated with defense-related
contracts, (vii) our ability to scale production of our satellites
as planned, (viii) unforeseen risks, challenges and uncertainties
related to our expansion into new business lines, (ix) our
dependence on third parties to transport and launch our satellites
into space, (x) our reliance on third party vendors and
manufacturers to build and provide certain satellite components,
products, or services, (xi) market acceptance of our EO services
and our dependence upon our ability to keep pace with the latest
technological advances, (xii) competition for EO services, (xiii)
unknown defects or errors in our products, (xiv) risk related to
the capital-intensive nature of our business and our ability to
raise adequate capital to finance our business strategies, (xv)
uncertainties beyond our control related to the production, launch,
commissioning, and/or operation of our satellites and related
ground systems, software and analytic technologies, (xvi) the
failure of the market for EO services to achieve the growth
potential we expect, (xvii) risks related to our satellites and
related equipment becoming impaired, (xviii) risks related to the
failure of our satellites to operate as intended, (xix) production
and launch delays, launch failures, and damage or destruction to
our satellites during launch and (xx) the impact of natural
disasters, unusual or prolonged unfavorable weather conditions,
epidemic outbreaks, terrorist acts and geopolitical events
(including the ongoing conflicts between Russia and Ukraine, in the
Gaza Strip and the Red Sea region) on our business and satellite
launch schedules. 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/20241209687734/en/
Media Contacts
Satellogic, Inc. Ryan Driver, VP of Strategy & Corporate
Development pr@satellogic.com
Satellogic (NASDAQ:SATL)
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