Spire Global Bags Multi-million Euro Contract From EUMETSAT

(RTTNews) - Spire Global, Inc. (SPIR), a space data, analytics, and services provider, said on Tuesday that it has bagged a multi-million euro contract from Europe's meteorological satellite agency, EUMETSAT, to provide radio occultation or RO data.

The contract is for an initial period of two years, from 2024 to 2026, with three optional, one-year extensions.

The company's RO data provides information about the vertical profiles of pressure, humidity, and temperature across all points of the world, including in the most remote regions and open oceans.

Spire will provide the data in near-real time, and it will be distributed to the EUMETSAT user community globally for use in weather forecast modeling.

Monday, the stock had closed at $6.80, down 4.09 percent on the New York Stock Exchange.