Spire Global Announces Space Services Deal to Scale Constellation for HANCOM InSpace

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Sejong-2 and Sejong-3 will complement Sejong-1 to expand image analysis solutions

VIENNA, Va.--(BUSINESS WIRE)-- Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a leading global provider of space-based data, analytics and space services, announced an agreement with HANCOM InSpace (“Hancom”), initially a spin-off by Korea Aerospace Research Institute and now a part of HANCOM Group, for Sejong-2 and Sejong-3 two additional satellites with Spire Space Services. Under this agreement, Spire will build and operate the satellites, expanding the capabilities of HANCOM-1 (Sejong-1). Together, these satellites will form a constellation for Korea’s first three-satellite remote sensing image data service.

Hancom specializes in commercial and government applications of image analysis, including detection of vehicles, aircraft and ships, changes in roads and buildings, and pine tree death detection. The missions are focused on collecting optical imagery for applications in the agriculture sector, including landscaping applications and the expansion of its existing image analysis portfolio offerings. Hancom plans to launch and operate a constellation of up to 50 satellites.

Sejong-1, a Spire satellite carrying an optical payload for Hancom, launched in May 2022 on the SpaceX Transporter-5 Mission from Cape Canaveral Space Force Station. It was the first commercial satellite deployed for a private South Korean company.

"Collaborating with Hancom on the expansion of their satellite constellation is a testament to the innovative spirit driving advancements in the South Korean space industry,” said Frank Frulio, general manager of Space Services at Spire. “As a pioneer in deploying satellites, Hancom continues to demonstrate their leadership in the space industry, and we are thrilled to contribute to the growth of their constellation. Our Space Services team's dedication and ingenuity shine through, ensuring an unparalleled experience for customers like Hancom, and reinforcing our commitment to delivering cutting-edge solutions in Earth Observation and beyond."

“Collaborating with Spire Global underscores our commitment to advancing the capabilities of our satellite constellation. Sejong-2 and Sejong-3, alongside Sejong-1, mark a significant step forward in our mission to provide cutting-edge image analysis solutions. Sejong-2 will serve as an extension of Sejong-1, focusing on maritime, agricultural monitoring, and change detection, especially in urban areas, while Sejong-3, equipped with a hyperspectral imager, will leverage its spectral range advantages for applications such as calculating wildfire damage area, analyzing air pollution levels, and assessing river water quality,” said Dr. Myungjin Choi, the CEO of HANCOM InSpace. “With the integration of images from our own multispectral and hyperspectral imagers, drones, and high-performance ground cameras, we are poised to expand our image utilization portfolio even further. We anticipate that the image quality of both Sejong-2 and Sejong-3 will be as exceptional as that of Sejong-1.”

About Spire Global, Inc.

Spire (NYSE: SPIR) is a global provider of space-based data, analytics and space services, offering unique datasets and powerful insights about Earth so that organizations can make decisions with confidence in a rapidly changing world. Spire builds, owns, and operates a fully deployed satellite constellation that observes the Earth in real time using radio frequency technology. The data acquired by Spire’s satellites provides global weather intelligence, ship and plane movements, and spoofing and jamming detection to better predict how their patterns impact economies, global security, business operations and the environment. Spire also offers Space as a Service solutions that empower customers to leverage its established infrastructure to put their business in space. Spire has nine offices across the U.S., Canada, UK, Luxembourg, Germany and Singapore. To learn more, visit spire.com.

About HANCOM InSpace

HANCOM InSpace carries out its business in the satellite ground station sub-system development, image analysis service, and drone utilization service. HANCOM InSpace provides customers with services that allow them to receive, analyze, process, and distribute images of various satellites through its integrated satellite ground station system platform, “InStation Platform.” HANCOM InSpace also offers downtown, forest, and marine monitoring service using in-house developed drones and drone stations. HANCOM InSpace aims to become a leading data analysis company by collecting all space, aviation, and ground data through its satellites and cameras. To learn more, visit https://www.inspace.co.kr/

For media:
Sarah Freeman
Communications Manager
Sarah.Freeman@spire.com

For investors:
Benjamin Hackman
Head of Investor Relations
Benjamin.Hackman@spire.com

Source: Spire Global, Inc.

Released March 27, 2024