Spire Global Shares Rise After Deployment of Battery in Space

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 [e-mail]

(END) Dow Jones Newswires

December 16, 2021 07:59 ET (12:59 GMT)

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