SOURCE: Spire

Spire

June 10, 2015 12:27 ET

Data Company Spire Receives up to $2.9 Million in Grants From Scottish Government to Double Down on Massive Satellite Weather Opportunity

Promoting the Growth of UK's Space Community, Silicon Valley Satellite-Data Company Opens New Office in Glasgow, Scotland to Attract World-Class Talent

SAN FRANCISCO, CA--(Marketwired - Jun 10, 2015) - Today Spire, the satellite-powered data company, announced that it has been awarded up to $2.9 million in grants from Scottish Enterprise, the international investment and trade promotion agency of the Scottish Government. The funds will help accelerate Spire's international growth along with the opening of a new office in Glasgow, Scotland that will serve as a crucial hub for satellite engineering and development.

Scotland and Spire's Vision for the Future
Scotland, also known as Silicon Glen, is a rising force within the technology industry. The region's lower cost base and extensive range of universities create a rich environment, ideal for both Spire and Scotland's growth. With an office in Glasgow, Spire will now have access to a strong base of talented engineers who are capable of solving some of today's most complex challenges in order to develop the next generation of GPS Radio Occultation technology. Spire's new European branch will also support Scotland's developing tech sector, creating more job opportunities and stimulating progressive technological advancements in the field of weather data collection for the entire world.

"This announcement clearly demonstrates Scotland's growing influence in the space technology industry. Our cost-effective, supportive business environment, highly-skilled workforce, and world-class universities are not only enabling the development of Scottish companies, but also attracting the world's most innovative companies such as Spire to Scotland," said Nicola Sturgeon, The First Minister of Scotland.

2015 has already proven to be a pivotal year for Spire. In January, the company announced its plans to vastly improve global weather forecasting with the launch of 20 satellites by the end of year. The launch of satellites coincides with the impending gap of satellite weather data in 2016, where the US economy and national safety will potentially be at high risk due to a significant reduction in weather and climate data. Spire offers a collaborative gap-mitigation solution with its resilient constellation of satellites by leveraging the most advanced GPS-Radio Occultation weather data technology. The company's satellites will be able to provide five times more weather GPS-RO data than is currently available from today's fleet of weather satellites at a fraction of the cost of current data-collecting solutions.

"The confidence placed in us from Scotland enables us to expand our global footprint to attract the skills and talent we need to deliver on the next generation of weather satellites," said Spire's CEO, Peter Platzer. "We are not only looking for the top one percent of the world's talent pool, but the one percent that demand constant challenge and improvement that has come to embody Spire's culture. And just as we aim to hire and nurture the best and brightest, we will continue to offer them a unique, well-rounded and international life experience with plenty of excitement to spare."

"Attracting innovative companies like Spire is a key component of our success. Spire's enhanced presence in Scotland makes a significant contribution to our space industry expertise and will open up a wealth of opportunities for SMEs in Scotland operating in the technology space," said Lena Wilson, Chief Executive of Scottish Enterprise.

In 2014, Spire raised $25 million in Series A funding, bringing the total amount raised to $29 million and also opened a new branch location in Singapore. Now with its third global office in place, the company has plans to double its Glasgow team to over 50 full-time employees by 2018. The SDI grants, which come through Regional Selective Assistance and SMART: Scotland programmes, affirm both Scotland's growing aerospace industry and Spire's commitment to international growth.

Spire's new office is located at 45 Finnieston Street Glasgow, G3 8JU. Organizations and individuals interested in receiving more information about Spire should visit: www.spire.com

About Spire
Spire is a satellite-powered data company that tackles the world's most unpredictable business challenges with truly global data solutions. By providing unique data from any point on Earth, every hour, Spire offers a competitive advantage for organizations that require insight into areas such as global trade, weather, shipping and supply chain, air-traffic control and monitoring, and maritime domain awareness. To learn more, visit: www.spire.com.

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