Spire participates in Prize to advance measurements of Earth's Magnetic Field

by Staff Writers
Vienna VA (SPX) Aug 24, 2023
Spire Global, Inc. (NYSE: SPIR) was invited by the National Geospatial-Intelligence Agency (NGA) and has agreed to participate in Phase 4 of MagQuest, a prize challenge to advance how Earth's magnetic field is measured, with multi-million-dollar prize awards.

MagQuest is a multiphase open innovation challenge designed to accelerate new ideas to increase the efficiency, reliability, and sustainability of geomagnetic data. During this phase of the challenge, Spire will design, develop and launch a satellite that will provide a novel approach to geomagnetic data collection for the World Magnetic Model (WMM). The satellite will carry a first-of-its-kind diamond quantum magnetometer system developed by SBQuantum. Spire will demonstrate operations of the satellite system and provide data to NOAA's National Centers for Environmental Information and NASA's Goddard Space Flight Center for assessment.

The WMM is used every day around the world and is embedded in thousands of systems. More than a billion smartphone users depend on the WMM for mobile navigation apps, and drivers rely on it to align the compasses in their cars.

"The importance of the World Magnetic Model cannot be overstated: It is critical to keeping everyday navigational systems running," said NGA Senior GEOINT Authority J.N. Markiel, Ph.D. in an NGA press release. "MagQuest has advanced scientific and technical innovations that could be key to the future of geomagnetic data collection, specifically approaches that are both sustainable and scalable."

"The MagQuest challenge is a prime example of how satellite technology plays a crucial role in powering technology and systems that each and every one of us use on a near-daily basis," said Chuck Cash, vice president of federal sales at Spire. "We're proud to leverage Spire's expertise in satellite technology and existing infrastructure for manufacturing, ground stations, and data processing with SBQuantum's magnetometer technology to provide a novel and more accurate solution to collect geomagnetic data."

Phase 4 of the challenge is set to conclude in September 2026. There may be an opportunity for additional funding at the end of the challenge to sustain operations and data provisions beyond the three-year period. The results of MagQuest will inform NGA's acquisition strategy for a WMM global magnetic field data collection capability, with an expected data procurement that can provide operational capacity by 2027.

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Artificial Intelligence Analysis

Defense Industry Analyst: 8

The article discusses a strategic partnership between Spire Global Inc. and the National Geospatial Intelligence Agency (NGA) to participate in MagQuest, a prize challenge to advance how Earths magnetic field is measured. This collaboration demonstrates the importance of satellite technology in powering everyday navigational systems and has the potential to revolutionize geomagnetic data collection. Defense analysts may be interested in the implications of this partnership for the military, as a more efficient and reliable way to measure the Earths magnetic field could lead to improved navigation and communication capabilities.

Stock Market Analyst: 7

This article is relevant to stock market analysts as it highlights Spires involvement in a major government initiative with the potential to revolutionize geomagnetic data collection. This could have significant implications for Spires stock performance, as the company stands to benefit from increased investments in its technology and infrastructure, as well as the potential for new revenue streams and business opportunities.

General Industry Analyst: 7

This article is relevant to general industry analysts, as it describes a major government initiative to advance how Earths magnetic field is measured. This has the potential to revolutionize geomagnetic data collection, which could have significant implications for a variety of industries. Analysts may be interested in how this could impact the accuracy of navigation and communication systems, and how this could benefit industry players in the space and defense sectors.

Analyst

Summary

: Spire Global Inc. (NYSE: SPIR) has partnered with the National Geospatial Intelligence Agency (NGA) to participate in Phase 4 of MagQuest, a prize challenge to advance how Earths magnetic field is measured. This collaboration has the potential to revolutionize geomagnetic data collection, which could have significant implications for a variety of industries, particularly the space and defense sectors. It also has the potential to benefit Spire, as the company stands to benefit from increased investments in its technology and infrastructure, as well as the potential for new revenue streams and business opportunities. This initiative is significant for the defense industry, as a more efficient and reliable way to measure the Earths magnetic field could lead to improved navigation and communication capabilities.Over the past 25 years, there has been a shift in the space and defense sector towards increased investments in satellite technology and geospatial intelligence. This has led to improved navigation and communication capabilities, as well as the potential for new revenue streams and business opportunities. The partnership between Spire and the NGA is in line with this trend, and could result in further advances in the field of geomagnetic data collection.Investigative

Question:

• 1. What are the specific objectives of the MagQuest challenge and how will they be assessed?

• 2. What technological advances does the diamond quantum magnetometer system developed by SBQuantum offer over existing systems?

• 3.

How will the data collected by Spires satellite be used to improve the accuracy of the WMM?

4. What are the potential security implications of increased reliance on satellite technology for geomagnetic data collection?

5. What other industries will be impacted by the potential advances in geomagnetic data collection?

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