The Conversation (0)
Maxar Technologies (NYSE:MAXR)(TSX:MAXR), a trusted partner and innovator in Earth Intelligence and Space Infrastructure, announces the award of an Electro-Optical Commercial Layer (EOCL) contract by the U.S. National Reconnaissance Office (NRO). EOCL, a five-year base contract with five additional years of options through 2032, represents the largest ever commercial imagery acquisition contract awarded by the NRO. Under the award agreement, Maxar will continue to provide high-resolution commercial satellite imagery in support of the U.S. defense and intelligence community and missions carried out in partnership with U.S. allies and partners.
The EOCL contract will transition the imagery acquisition requirements currently addressed by the EnhancedView Follow-On (EVFO) and its predecessor contracts, held by Maxar for over two decades. EOCL's expanded scope and value includes Foundation, Intelligence Area and Points collection plus the additional capabilities of shortwave infrared, non-Earth imaging, nighttime imaging and theater direct downlink. EOCL's five-year base and five one-year options, as well as its flexible contract structure, allows for increased technology innovation and capability development, demonstrating an important commitment by the U.S. Government to increase its utilization of commercial imagery.
"Maxar has been a trusted U.S. Government partner for more than two decades, and we're proud to continue to serve that mission under EOCL," said Dan Jablonsky, Maxar President and Chief Executive Officer. "This agreement provides a foundation for Maxar's growth in the years ahead, as we continue through innovation and disciplined investment to meet our customers' most demanding needs and generate long-term value for our shareholders. As always, we are committed to the mission success of our federal partners, and appreciate their longstanding trust in our capabilities, quality and reliability."
Maxar has reliably delivered commercial satellite imagery to the U.S. Government since 2000. Maxar imagery is used daily by the U.S. Government for mapping, mission planning, emergency response and other activities that serve the intelligence, defense and federal civil agency user communities. Recent world events, including the war in Ukraine, have shined an unprecedented light on commercial geospatial intelligence and the value of programs such as EOCL that enable unclassified information sharing with U.S. allies and NATO partners.
About Maxar
Maxar Technologies (NYSE:MAXR) (TSC: MAXR) is a provider of comprehensive space solutions and secure, precise, geospatial intelligence. We deliver disruptive value to government and commercial customers to help them monitor, understand and navigate our changing planet; deliver global broadband communications; and explore and advance the use of space. Our unique approach combines decades of deep mission understanding and a proven commercial and defense foundation to deploy solutions and deliver insights with unrivaled speed, scale and cost effectiveness. Maxar's 4,400 team members in over 20 global locations are inspired to harness the potential of space to help our customers create a better world. For more information, visit www.maxar.com .
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking statements" as defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and include statements regarding, among other things, our anticipated revenues, cash flows or other aspects of our operations or operating results. Forward-looking statements are often identified by the words "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could," "may," "estimate," "outlook" and similar expressions, including the negative thereof.
These forward-looking statements are based on management's current expectations and assumptions based on information currently known to us and our projections of the future, about which we cannot be certain. Forward-looking statements are subject to various risks and uncertainties which could cause actual results to differ materially from the anticipated results or expectations expressed in this press release. As a result, although we believe we have a reasonable basis for each forward-looking statement contained in this press release, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be accurate. Risks and uncertainties that could cause actual results to differ materially from current expectations include: risks related to the conflict in Ukraine or related geopolitical tensions; the COVID-19 pandemic and its impact on our business operations, financial performance, results of operations and stock price; our ability to generate a sustainable order rate for our satellite and space manufacturing operations within our Space Infrastructure segment, including our ability to develop new technologies to meet the needs of existing or potential customers; risks related to our business with various governmental entities, which is subject to the policies, priorities, regulations, mandates and funding levels of such governmental entities; our ability to meet our contractual requirements and the risk that our products contain defects or fail to operate in the expected manner; the risk of any significant disruption in or unauthorized access to our computer systems or those of third parties that we utilize in our operations; the ability of our satellites to operate as intended and risks related to launch delays, launch failures or damage or destruction to our satellites during launch; risks related to the interruption or failure of our infrastructure or national infrastructure; and the risk factors set forth in Part II, Item 1A, "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and filed with the Securities and Exchange Commission (the "SEC") on February 22, 2022, as such risks and uncertainties may be updated or superseded from time to time by subsequent reports we file with the SEC.
The forward-looking statements contained in this press release speak only as of the date hereof are expressly qualified in their entirety by the foregoing risks and uncertainties. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially adversely affect our business, prospects, financial condition, results of operations and cash flows. The Company undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
Unless stated otherwise or the context otherwise requires, references to the terms "Company," "Maxar," "we," "us," and "our" to refer collectively to Maxar Technologies Inc. and its consolidated subsidiaries.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005388/en/
Investor Relations Contact:
Jason Gursky
Maxar VP, Investor Relations and Corporate Treasurer
1-303-684-2207
jason.gursky@maxar.com
Media Contact:
Fernando Vivanco
Maxar Media Relations
1-720-877-5220
fernando.vivanco@maxar.com
