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Benzinga
Benzinga
Business
Akanksha Bakshi

Spire Global Secures TCOM Subcontract For Weather Forecasts

SPIR TCOM Department of Defense DoD NYSE Spire Global Inc
  • Spire Global Inc (NYSE:SPIR) has secured a subcontract agreement from TCOM, L.P. to provide weather forecasts for ten sites where TCOM aerostats are operated. 
  • The multi-million-dollar subcontract is for five years. Financial terms were not disclosed.
  • The agreement includes comprehensive weather forecasts, alerts that notify aerostat site operators if bad weather is forecasted, weather training for site managers and site leads, and a contact center offering weather information 24 hours a day, seven days a week.
  • The initial TCOM contract was awarded through a Department of Defense (DoD) Foreign Military Sales (FMS) award.
  • Price Action: SPIR shares are trading lower by 2.07% at $1.42 on the last check Monday.
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