BlackSky and SynMax Partner to Monitor United States Coal Powerplant Inventory in Support of National Energy Transition Planning Efforts
30 May 2023 - 10:30PM
Business Wire
Advanced rapid-revisit burst imagery service
will power the world’s most timely and accurate energy intelligence
assessment
BlackSky Technology Inc. (NYSE: BKSY) was competitively selected
by energy intelligence company SynMax to monitor more than 100
United States coal powerplants. The partnership will create the
world’s most timely and accurate energy intelligence assessment and
support national energy transition initiatives away from fossil
fuels toward alternate, more sustainable energy resources.
“BlackSky’s real-time, dynamic monitoring capabilities are
reshaping how the global coal industry assesses critical economic
indicators at scale,” said Brian E. O’Toole, BlackSky CEO. “With
continued momentum in the commercial market, innovative industry
intelligence partners like SynMax are among the first in the energy
ecosystem to give their clients a valuable competitive advantage
using timely, accurate space-based sensor data.”
Following a comprehensive evaluation from multiple satellite
data companies, SynMax selected BlackSky’s advanced burst imagery
capability, which focuses on a single target and generates five
shots over a 15-second period. This allows multiple view angles and
unprecedented accuracy of resulting analytics, as well as motion
tracking of objects at the target location. Burst imagery, along
with all BlackSky offerings, can uniquely be captured from early in
the day to late in the evening. SynMax will use BlackSky’s
time-diverse imagery to generate 3-D volumetric products.
“BlackSky’s dawn-to-dusk, low-latency image data will enable the
highest degree of accuracy in monitoring coal inventories," said
Eric Anderson, SynMax chief technology officer. ”Real-time dynamic
monitoring capabilities will help SynMax maintain its position at
the forefront of the energy intelligence industry and pave the way
for future collaborations on energy intelligence and maritime
projects."
BlackSky’s novel rapid-revisit, low-latency imagery services
enable SynMax to provide its clients with precise information on
coal stockpiles, allowing for more effective decision-making in the
energy industry. Understanding coal’s shrinking contribution to the
energy grid is a critical component of energy transition planning.
This partnership underscores SynMax's commitment to utilizing
innovative technology and data-driven insights to empower energy
stakeholders and promote sustainable energy management
practices.
About BlackSky
BlackSky is a leading provider of real-time geospatial
intelligence. BlackSky delivers on-demand, high frequency imagery,
monitoring and analytics of the most critical and strategic
locations, economic assets, and events in the world.
BlackSky designs, owns and operates one of the industry’s
leading low earth orbit small satellite constellations, optimized
to capture imagery cost-efficiently where and when our customers
need it. BlackSky’s Spectra AI software platform processes data
from BlackSky’s constellation and from other third-party sensors to
develop the critical insights and analytics that our customers
require.
BlackSky is relied upon by U.S. and international government
agencies, commercial businesses, and organizations around the
world. BlackSky is headquartered in Herndon, VA, and is publicly
traded on the New York Stock Exchange as BKSY. To learn more, visit
www.blacksky.com and follow us on Twitter.
About SynMax
SynMax is a leading energy intelligence company that provides
actionable insights and data-driven solutions to energy industry
stakeholders. By leveraging cutting-edge technology, advanced
analytics, and global expertise, SynMax helps clients optimize
operations, mitigate risks, and make informed decisions to drive
growth and sustainability. SynMax’s rig and frac crew tracking
product called Hyperion, is widely recognized as the industry
leader in oil and gas production intelligence. For more
information, visit www.SynMax.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
BlackSky. These forward-looking statements generally are identified
by the words “believe,” “project,” “expect,” “anticipate,”
“estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,”
“may,” “should,” “will,” “would,” “will be,” “will continue,” “will
likely result,” and similar expressions. Forward-looking statements
are predictions, projections, and other statements about future
events that are based on current expectations and assumptions and,
as a result, are subject to risks and uncertainties. Many factors
could cause actual future events to differ materially from the
forward-looking statements in this document, including but not
limited to: (i) the ability to implement business plans, forecasts,
and other expectations, (ii) achieve anticipated revisit rates and
maintain current launch schedules, and (iii) our ability to predict
and respond to customer trends. The foregoing list of factors is
not exhaustive and is based on information available as of the date
of this communication, and current expectations, forecasts and
assumptions, and involve a number of judgments, risks and
uncertainties. If any of these risks materialize or underlying
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. There
may be additional risks that we do not presently know, or that we
currently believe are immaterial, that could also cause actual
results to differ from those contained in the forward-looking
statements. In addition, forward-looking statements reflect our
expectations, plans, or forecasts of future events and views as of
the date of this communication. We anticipate that subsequent
events and developments will cause their assessments to change.
Accordingly, forward-looking statements should not be relied upon
as representing our views as of any subsequent date, and we do not
undertake any obligation to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
Additional risks and uncertainties are identified and discussed in
reports filed with the SEC, including within the section titled
“Risk Factors” on BlackSky’s registration statement on Form S-1,
and available at the SEC’s website at http://www.sec.gov.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230530005135/en/
Investor Contact Aly Bonilla VP, Investor Relations
abonilla@blacksky.com
Media Contact Pauly Cabellon Director, External
Communications pcabellon@blacksky.com
BlackSky Technology (NYSE:BKSY)
Historical Stock Chart
From Apr 2024 to May 2024
BlackSky Technology (NYSE:BKSY)
Historical Stock Chart
From May 2023 to May 2024