New strategically located facility will further
accelerate satellite manufacturing
Satellogic, a leader in sub-meter resolution satellite imagery
collection, announced today that it will be constructing a
high-throughput satellite manufacturing facility in the
Netherlands.
This 57,000 square foot new location is expected to accelerate
the company’s assembly of satellites and accommodate its
state-of-the-art manufacturing, integration, and testing equipment.
In addition to having logistics capabilities and storage facilities
designed for sensitive optic-mechanical and electronic parts, the
facility will also host office and meeting space for approximately
80 persons to support hybrid working opportunities.
The site's location in Berkel en Rodenrijs was strategically
selected as the region is home to a sizable workforce of skilled
labor. Proximity to The Hague, Delft, and Rotterdam aids in
providing Satellogic with the world’s best logistic support.
Satellogic’s VP of Manufacturing Operations, Gustav Wenhold,
will lead operations at the new facility. Wenhold has amassed more
than 20 years of international leadership experience. For the last
15 years, he has managed several aerospace manufacturing entities,
ensuring that required functions for self-sustaining business
models were in place.
“Satellogic has ambitious growth plans that our new
high-throughput plant is designed to meet,” said Wenhold. “With
these significant additions to our production capabilities, we’re
prepared to continue supporting our customers by delivering high
frequency, high-resolution imagery and strategic, timely insights
for decision makers.”
The new high-throughput plant will follow a modern production
approach and Industry 4.0 principles. Construction of the building
is on schedule to be completed by the end of January 2022.
Production is expected to commence during the second quarter of
2022 when the facility’s equipment will be fully commissioned and
is expected to reach full production capacity of 25 satellites per
quarter by Q3 2023.
“Satellogic relies on key suppliers for the delivery of
components and subassemblies which have been fully developed by our
internal engineering and manufacturing teams,” said Alessandro
Comune, VP of Global Supply Chain. “With this expansion to our
supply chain, we expect we will be able to scale up our production
plans and reach our goal of constantly maintaining 300 satellites
in orbit.”
Satellogic will continue to operate its current Assembly,
Integration, and Test (AIT) facility in Montevideo, Uruguay, with a
capacity of 24 satellites per year. In the future, the facility in
Uruguay will mainly function as a pilot plant to introduce new
technology for the next-generation satellites. The technology will
also be further developed to achieve the manufacturing maturity
level for satellites required to be transferred to the Netherlands
where the processes for industrialization and throughput increase
are developed. Both facilities will maintain a focus on the
company’s standardization, zero defects, and zero waste
initiatives.
Satellogic is expected to list as a public company through a
proposed business combination with CF Acquisition Corp. V (Nasdaq:
CFV) (“CFAC V”), a special purpose acquisition company sponsored by
Cantor Fitzgerald. The transaction, which is expected to allow
Satellogic to build out its constellation of satellites and
maintain its position as a global leader in sub-meter imagery, is
projected to close in the fourth quarter of 2021. After closing,
Satellogic will trade on the Nasdaq under ticker symbol “SATL.”
About Satellogic:
Founded in 2010 by Emiliano Kargieman and Gerardo Richarte,
Satellogic is the first vertically integrated geospatial company,
driving real outcomes with planetary-scale insights. Satellogic is
building the first scalable, fully automated Earth Observation
platform with the ability to remap the entire planet at both
high-frequency and high-resolution, providing accessible and
affordable solutions for customers.
Satellogic’s mission is to democratize access to geospatial data
through its information platform to help solve the world’s most
pressing problems including climate change, energy supply, and food
security. Using its patented Earth imaging technology, Satellogic
unlocks the power of Earth Observation (EO) to deliver
high-quality, planetary insights at the lowest cost in the
industry. With more than a decade of experience in space,
Satellogic has proven technology and a strong track record of
delivering satellites to orbit and high-resolution data to
customers at the right price point.
To learn more, visit https://satellogic.com
About CF Acquisition Corp. V
CF Acquisition Corp. V is a blank check company led by Chairman
and Chief Executive Officer Howard W. Lutnick. CF V was formed for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. CF V focuses on industries
where its management team and founders have experience and insights
and can bring significant value to business combinations.
About Cantor Fitzgerald
CF V is sponsored by Cantor Fitzgerald. Cantor Fitzgerald, with
over 12,000 employees, is a leading global financial services group
at the forefront of financial and technological innovation and has
been a proven and resilient leader for over 70 years. Cantor
Fitzgerald & Co. is a preeminent investment bank serving more
than 5,000 institutional clients around the world, recognized for
its strengths in fixed income and equity capital markets,
investment banking, SPAC underwriting and PIPE placements, prime
brokerage, commercial real estate and for its global distribution
platform. Cantor Fitzgerald & Co. is one of the 24 primary
dealers authorized to transact business with the Federal Reserve
Bank of New York. Cantor Fitzgerald is a leading SPAC sponsor,
having completed multiple initial public offerings and announced
multiple business combinations through its CF Acquisition platform.
For more information, please visit: www.cantor.com.
Additional Information
This press release relates to a proposed transaction between
Satellogic and CF V. In connection with the transaction described
herein, CF V, Satellogic and/or a successor entity of the
transaction has filed relevant materials with the SEC, including an
effective registration statement on Form F-4, which includes a
prospectus of Satellogic and a proxy statement of CF V. The
definitive proxy statement was sent to all CF V stockholders.
Satellogic, CF V and/or a successor entity of the transaction will
also file other documents regarding the proposed transaction with
the SEC. Before making any voting or investment decision,
investors and security holders of Satellogic and CF V are urged to
read the registration statement, the proxy statement/prospectus and
all other relevant documents filed or that will be filed with the
SEC in connection with the proposed transaction as they become
available because they will contain important information about the
proposed transaction.
Investors and security holders will be able to obtain free
copies of the registration statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by Satellogic, CF V or any successor
entity of the transaction through the website maintained by the SEC
at www.sec.gov.
The documents filed by CF V with the SEC also may be obtained
free of charge upon written request to CF Acquisition Corp. V, 110
East 59th Street, New York, NY 10022 or via email at
CFV@cantor.com. The documents filed by Satellogic or any successor
entity of the transaction with the SEC also may be obtained free of
charge upon written request to Satellogic USA, Inc., 210 Delburg
St., Davidson, NC 28036.
Participants in the Solicitation
Satellogic, CF V and their respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from CF V’s stockholders in connection with the proposed
transaction. A list of the names of such directors and executive
officers, and information regarding their interests in the business
combination and their ownership of CF V’s securities are, or will
be, contained in CF V’s filings with the SEC, and such information
and names of Satellogic’s directors and executive officers are also
in the registration statement on Form F-4 filed with the SEC by
Satellogic.
Non-Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential transaction and shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
of CF V, Satellogic or any successor entity of the transaction, nor
shall there be any sale of any such securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of the Securities Act of 1933, as amended (the
“Securities Act”).
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934, as amended. Such
forward-looking statements include, but are not limited to,
statements regarding the expectation that the new facility in the
Netherlands will accelerate the company’s assembly of satellites,
the expected completion date of the facility and the expected
production schedule for the facility and the company’s ability to
meet its goal of constantly maintaining 300 satellites in orbit and
Satellogic’s or their respective management teams’ expectations,
hopes, beliefs, intentions or strategies regarding the future. The
words “anticipate”, “believe”, “continue”, “could”, “estimate”,
“expect”, “intends”, “may”, “might”, “plan”, “possible”,
“potential”, “predict”, “project”, “should”, “would” and similar
expressions may identify forward-looking statements, but the
absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements are based on
Satellogic’s current expectations and beliefs concerning future
developments and their potential effects on Satellogic. These
statements are based on various assumptions, whether or not
identified in this press release. These forward-looking statements
are provided for illustrative purposes only and are not intended to
serve as, and must not be relied on by, an investor as, a
guarantee, an assurance, a prediction or a definitive statement of
fact or probability. Actual events and circumstances are difficult
or impossible to predict and will differ from assumptions. Many
actual events and circumstances are beyond the control of
Satellogic. Many factors could cause actual future events to differ
materially from the forward-looking statements in this press
release, including but not limited to: (i) the company’s ability to
build out the facility as planned, (ii) production at the facility
is less than expected and (iii) the risk that Satellogic may need
to raise additional capital to complete and ramp up the facility.
The foregoing list of factors is not exhaustive. You should
carefully consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of the
registration statement on Form F-4 and proxy statement/prospectus
discussed above and other documents filed or to be filed by
Satellogic. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Satellogic assumes no obligation
and do not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise. Satellogic does not give any assurance that it will
achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211228005057/en/
Investor Relations:
MZ Group Chris Tyson/Larry Holub (949) 491-8235
SATL@mzgroup.us
Media Relations:
Satellogic pr@satellogic.com
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