Palantir Technologies and the Royal Navy Extend Contracts
May 07 2021 - 2:00AM
Business Wire
Palantir Technologies Inc. (NYSE:PLTR) announced today the
renewal of its contracts with the United Kingdom’s Royal Navy for
its Palantir Foundry platform. Palantir’s software is used by the
Royal Navy across a broad spectrum of areas from strategic
workforce planning to supply chain management to the COVID-19
response.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210506006341/en/
Description: Palantir Foundry for the
Royal Navy’s COVID-19 Response Source: Royal Navy
Palantir is enabling naval personnel, as well as civilians and
contractors, most without programming expertise, to access and
engage with a curated, single source of truth. Users are empowered
to run complex models to test scenarios to make better decisions,
faster. The Royal Navy has developed its own digital skills and
data expertise through its adoption of Foundry - a growing number
of naval personnel are programming and building directly in
Foundry, showcasing their growing self-sufficiency and new
technical competence.
The renewed agreements will allow the Royal Navy to continue
reaping the benefits of a more empowered workforce, whilst keeping
tight control of security and privacy of its data, and full
ownership of the logic behind its data model.
The investment the Royal Navy made in Foundry meant it was able
to react quickly to the COVID-19 crisis early last year. It took
the Royal Navy less than 48 hours to stand up a Recognised People
Picture in Foundry using self-reported updates to inform leadership
of the impact of the pandemic on its force. The Royal Navy is
applying this new data-driven approach to ensure readiness of its
strength, proactive alerting on equipment health and inventory
risk, fully transparent and informed maintenance delivery, all
combined to increase the availability of its forces.
The February 2021 edition of Navy News noted that Foundry had
“allowed the Personnel and Training (P&T) organisation to
establish 200 temporary units, tasks, and positions to support the
Covid response: from drivers for semi-refrigerated trucks to
engineers conducting maintenance tasks to Royal Navy medics
supporting the government’s broader pandemic response, ensuring
resilience to operations. Looking ahead, the development of a
strength modelling process in Foundry will allow better
understanding of the pandemic’s long-term impact on future force
readiness. Strategic planners can model a variety of scenarios
quickly and independently, so that they can make sure there are
enough training courses and promotion opportunities for example, to
help the Royal Navy continue to adapt to changing
circumstances.”
“We are proud to be supporting the Royal Navy in its important
mission and delighted to see the way in which it is using Foundry
in support of the First Sea Lord’s objective to use technology and
innovation, in a much bigger way than the Royal Navy has been to
date, to drive everything it does” says Shyam Sankar, COO of
Palantir.
About Palantir
Palantir Technologies Inc. is a software company that builds
enterprise data platforms for use by organizations with complex and
sensitive data environments. From building safer cars and planes,
to discovering new drugs and combating terrorism, Palantir helps
customers across the public, private, and non-profit sectors
transform the way they use their data. Palantir has these ISO
certifications: ISO 27001, ISO 27017, ISO 27018. Additional
information is available at www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may relate to, but are not limited to,
Palantir’s expectations regarding the amount and the terms of the
contract and the expected benefits of our software platforms.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Forward-looking statements are based on information available at
the time those statements are made and were based on current
expectations as well as the beliefs and assumptions of management
as of that time with respect to future events. These statements are
subject to risks and uncertainties, many of which involve factors
or circumstances that are beyond our control. These risks and
uncertainties include our ability to meet the unique needs of our
customer; the failure of our platforms to satisfy our customer or
perform as desired; the frequency or severity of any software and
implementation errors; our platforms’ reliability; and our
customer’s ability to modify or terminate the contract. Additional
information regarding these and other risks and uncertainties is
included in the filings we make with the Securities and Exchange
Commission from time to time. Except as required by law, we do not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210506006341/en/
Lisa Gordon media@palantir.com
Palantir Technologies (NYSE:PLTR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Palantir Technologies (NYSE:PLTR)
Historical Stock Chart
From Apr 2023 to Apr 2024