This new contract comes as an extension to a previous collaboration between the two firms. GHGSat had earlier entrusted Spire with the responsibility of launching three 16U satellites. If everything goes as per schedule, these satellites are set to make their journey into space by the conclusion of 2023.
Spire Global's Space Services boasts a formidable market presence, pegged at a total addressable market value of $39 billion. It offers an established infrastructure that empowers other entities to expand their business horizons into space. In addition, the rapid development, manufacturing, launch, and operations capabilities of Spire allow other organizations to swiftly scale their satellite constellations.
Frank Frulio, who serves as the general manager and global head of Space Services at Spire Global, emphasized the strategic design of their service. He stated, "Our Space as a Service model is designed to support the rapid pace at which our customers are growing, allowing companies like GHGSat to focus on their mission and services, while we deploy their payload into space safely, quickly, and in a cost-effective manner." He expressed enthusiasm over the deepening ties with GHGSat, highlighting the importance of addressing the global concern of greenhouse gas emissions.
Our planet's climate is under undeniable duress. The Intergovernmental Panel on Climate Change echoes this sentiment, underscoring that climate change poses serious risks to human well-being and the health of our planet. The pressing need of the hour is decisive action across all sectors to cut back on emissions. Obtaining accurate data on major emission contributors is pivotal, as it enables governments and industrial sectors to make informed decisions towards achieving the crucial net-zero emission objectives.
The deployment of these new satellites will substantially bolster GHGSat's capability in monitoring global emissions. The gathered data will primarily focus on emissions emanating from sectors known for their high carbon footprints, encompassing oil and gas, coal mining, waste management, and agriculture.
Stephane Germain, the CEO of GHGSat, shed light on the significance of their service, declaring, "GHGSat provides the best emissions intelligence in the world." He further elaborated on the collaboration by adding, "By expanding our satellite services agreement with Spire, we can continue to focus on performance for our customers rather than on satellite manufacturing and operations."
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