SPIR 8-K
Spire Global, Inc. (SPIR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 1.01 Entry into a Material Definitive Agreement.
On January 20, 2025, exactEarth Ltd. (“exactEarth”), a wholly owned subsidiary of Spire Global, Inc. (the “Company”), entered into a contract with His Majesty the King in right of Canada, as represented by the Minister of Public Works and Government Services, pursuant to which the Company agreed to design and develop the WildFireSat constellation of satellites to monitor wildfires in Canada for the Canadian Space Agency. The term of the contract ends on September 31, 2027, but the contract shall remain active for up to five years after completion of its final phase, which period may be extended or terminated early upon 30 days’ notice from Canada; however, any extension shall be subject to good faith negotiations between the parties and a subsequent contract amendment. If all contractual milestones are achieved, the Company will receive an aggregate of Can$71.8 million, including harmonized sales tax, pursuant to the contract. On January 21, 2025, exactEarth assigned the contract to Spire Global Canada Subsidiary Corp., another wholly owned subsidiary of the Company.
The foregoing description of the contract does not purport to be complete and is qualified in its entirety by reference to the full text of the contract, a copy of which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 7.01 Regulation FD Disclosure.
On February 7, 2025, the Company issued a press release announcing the contract. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
The information furnished pursuant to Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.
The Company announces material information to the public about the Company, its products and services and other matters through a variety of means, including filings with the SEC, press releases, public conference calls, webcasts, the investor relations section of its website (www.ir.spire.com), its X account (@SpireGlobal), its Bluesky account (@spire.com) and its LinkedIn page in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibits |
Description |
10.1 |
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99.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SPIRE GLOBAL, INC. |
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Date: |
February 7, 2025 |
By: |
/s/ Theresa Condor |
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Name: Title: |
Theresa Condor |
CONTRACT CLAUSES
The following clauses and conditions apply to and form part of any contract resulting from the bid solicitation.
The Contractor must perform the Work in accordance with the Statement of Work at Annex "A".
The Contractor grants to Canada the irrevocable option to acquire the goods, services or both associated with Phase D as described in Annex A – Statement of Work of the Contract under the same conditions and at the prices and/or rates stated in the Contract. The option may only be exercised by the Contracting Authority and will be evidenced, for administrative purposes only, through a contract amendment.
The Contracting Authority may exercise the option at any time before the expiry of the Contract by sending a written notice to the Contractor.
A portion of the Work could be performed on an "as and when requested basis" using a Task Authorization (TA). The Work described in the TA must be in accordance with the scope of the Contract.
1.2.4 Canada's Obligation - Portion of the Work - Task Authorizations
SACC Manual clause B9031C (2011-05-16) Canada’s Obligation – Portion of the Work – Task Authorizations
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Exhibit 99.1
Canadian Space Agency Assigns Can$72 Million Contract to Spire Global Canada to Design WildFireSat Mission
Spire has agreed to develop a satellite constellation to monitor all active wildfires in Canada from space
OroraTech has agreed to develop the payloads for the satellite constellation
CAMBRIDGE, Ontario, February 7, 2025 – Spire Global Canada, a subsidiary of Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), was assigned a Can$72 million contract, including harmonized sales tax, by the Government of Canada. Spire will design and develop a dedicated satellite constellation to monitor all active wildfires in Canada from space as part of Canada’s WildFireSat mission. The Company has agreed to partner with OroraTech, a leader in space-based thermal intelligence, to develop the payloads for the satellite constellation.
Canada spends roughly Can$1 billion every year fighting wildfires, with indirect costs much higher due to property damage, evacuations, health expenses and economic losses in sectors like forestry, energy and tourism. Furthermore, these wildfires disproportionately affect Indigenous communities in remote areas, making up an estimated 42% of wildfire-related evacuations despite being 5% of Canada’s population. This solution aims to save life, land and property by detecting wildfires early.
"Detecting wildfires is one of the most impactful satellite capabilities, offering significant benefits for public safety, environmental health and the economy,” said Theresa Condor, CEO of Spire Global. “We’re proud to work with the Government of Canada, which is paving the way in developing a next-generation wildfire monitoring system to protect its citizens and communities."
Spire has agreed to design and develop the dedicated satellite constellation. OroraTech has agreed to develop the wildfire detection payloads that will be deployed on the satellites, as well as build the data handling and processing system. These payloads have already provided data during Canadian wildfire emergencies, with OroraTech providing detection and management services to Quebec’s wildfire authority, Société de protection des forêts contre le feu (SOPFEU).
To deliver on this contract, Spire intends to expand its existing Canadian office in Cambridge, Ontario to add satellite manufacturing and test equipment, enabling WildFireSat and future missions to be manufactured domestically in Canada.
“Spire and OroraTech are pleased to support the Government of Canada with our proven infrared camera technology and data processing architecture, providing exceptional imagers for wildfire detection, management and response,” said Martin Langer, CEO & CTO of OroraTech. “We are particularly proud that this will help Indigenous communities across Canada to respond effectively to these natural threats, safeguarding their communities and way of life.”
Spire and OroraTech have partnered with the Alexis Nakota Sioux Nation’s Wakâ Mne – Science and Culture Initiative to enable the participation of Indigenous businesses in the WildFireSat mission, driving direct economic benefits and employment opportunities.
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The WildFireSat mission is a joint initiative by the Canadian Space Agency (CSA), Natural Resources Canada’s Canadian Forest Service (CFS), Canadian Centre for Mapping and Earth Observation (CCMEO) and Environment and Climate Change Canada (ECCC). This mission aims to deliver data on wildfire behaviour, smoke and air quality, targeting a significant gap in current satellite coverage. By focusing on the late afternoon "peak burn period" when wildfires are most intense, WildFireSat aims to enhance decision-making for wildfire response, reduce losses and protect communities.
The WildFireSat constellation is planned for launch in 2029 and will be operated by the CSA for a minimum of five years.
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.
Forward Looking Statements – Spire Global
This press release contains forward-looking statements, including information about our plan to expand our existing Canadian office in Cambridge, Ontario, our intent to launch the WildFireSat constellation in 2029, and management's view of Spire’s future expectations, plans and prospects, including our views regarding future execution within our business, and the opportunity we see in our industry, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Spire to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are included in documents Spire files with the Securities and Exchange Commission, including but not limited to, Spire’s Annual Report on Form 10-K for the year ended December 31, 2023, as well as subsequent reports filed with the Securities and Exchange Commission. Other unknown or unpredictable factors also could have material adverse effects on Spire’s future results. The forward-looking statements included in this presentation are made only as of the date hereof. Spire cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Spire expressly disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
About OroraTech
OroraTech leverages thermal images from space to detect and manage wildfires across the world. Their Wildfire Solution platform is powered by high-resolution thermal data from its proprietary and public satellite system, which is trusted for revolutionizing wildfire detection. Since 2022, OroraTech has established a comprehensive global satellite network, delivering real-time situational awareness
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and prompt risk alerts. The cutting-edge system detects fires of any scale, day or night, ensuring timely action. Founded in 2018, OroraTech is headquartered in Munich, Germany, with operations in the United States, Australia, Brazil, Canada, and Greece. A dedicated team of over 100 experts is committed to delivering innovative solutions for a sustainable future.
Contacts
For media:
Kristina Spychalski
Head of Communications
For investors:
Benjamin Hackman
Head of Investor Relations
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