Spire Global Shares Rise After Deployment of Battery in Space
December 16 2021 - 8:14AM
Dow Jones News
By Robb M. Stewart
Spire Global Inc.'s shares rose early Thursday after the company
said it successfully deployed a battery in orbit for the U.S. Space
Force.
In premarket trading, the stock was 4.5% higher after ending the
previous session at $3.76. Spire shares have dropped more than 60%
since the end of last year.
The provider of space-based data and services said the U.S.
Space Force Space Systems Command payload was delivered aboard its
3U Lemur CubeSat. The satellite has been operating nominally since
July 2021 and is performing on-orbit experiments to collect payload
performance data.
Theresa Condor, the company's chief operating officer, said that
where traditional payloads can take years to get into orbit, Spire
has the ability to send up customer payloads within a matter of
months, providing a fast and efficient option for those interested
in on-orbit research.
"The development of space-as-a-service offerings presents the
larger space, science and technology fields with opportunities to
conduct research and development over a significant period of time
at low cost, opening the possibility of space to a wider audience
than ever before," Ms. Condor said.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
December 16, 2021 07:59 ET (12:59 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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