Satellogic Inks LOI With Mexico's Space Agency For Satellite Earth Observation Program - Satellogic (NASDAQ:SATL)

Satellogic Inc SATL has signed a letter of intent (LOI) with Mexico's Space Agency Agencia Espacial Mexicana (AEM) to develop a Constellation-as-a-Service.
The program will be designed to monitor approximately 2 million square kilometers of the nation.
The LOI provides a framework for developing a Constellation-as-a-Service program, leveraging Satellogic satellites to deliver high-resolution multispectral imagery to support Mexico's participation in the New Space economy.
The LOI also includes details for a pilot project with AEM to utilize archive imagery.
Satellogic will host a team of AEM executives and experts at its Pilot Plant in Montevideo, Uruguay, for a facility tour early next year.
"Governments and agencies throughout the region are focusing more intently on the benefits of satellite data and are excited to work with Satellogic to demonstrate for their nations what can be achieved with our high-capacity, high-resolution constellation," said Thomas VanMatre, VP of Global Business Development at Satellogic.
Price Action: SATL shares are trading higher by 3.44% at $4.20 on the last check Tuesday.