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Investing.com -- BlackSky Technology Inc. (NYSE:BKSY) stock rose 6% after the company secured a delivery order from the National Geospatial-Intelligence Agency (NGA) valued at over $24 million for facility operational monitoring services.
The four-year award requires BlackSky to perform AI-enabled object and pattern-of-life change detection at military and economic facilities worldwide. The company has already received an initial base and surge option award of $2 million as part of the larger contract.
Under the agreement, BlackSky will monitor trends and anomalies in vehicle, aircraft, vessel, railcar, and ground equipment activity at various facilities including ports, airfields, military installations, and railways. The monitoring will cover more than 30 million square kilometers of the Earth’s surface for the NGA.
This delivery order falls under the Luno A contract, which BlackSky was selected for in October. The Luno A contract is a five-year, multi-award indefinite-delivery, indefinite-quantity agreement worth up to $290 million.
"Securing this Luno A task order continues BlackSky’s long record of success delivering our industry leading commercial real-time, AI-enabled dynamic monitoring capabilities at machine speed and scale in service to U.S. national security," said Brian O’Toole, BlackSky CEO.
The company noted that its upcoming Gen-3 satellites will enhance its capabilities by providing more rapid, detailed, and precise insights to support customer needs. BlackSky’s AI tools are designed to be scalable and cost-effective, allowing for more frequent data-intensive broad area search capabilities than traditional solutions.
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