Satellogic shares rise 20.31% intraday after selling in-orbit satellite to HEO, establishing Australia's first sovereign sub-meter imaging capability.

Satellogic surged 20.3% intraday after announcing the sale of its legacy NewSat-34 satellite to Australian firm HEO, establishing Australia’s first sovereign sub-meter imaging capability. The transaction, part of Satellogic’s Sovereignty Government Program, marks the company’s first sale of an in-orbit satellite, providing HEO with immediate operational capacity for non-Earth imaging R&D and Australia with independent remote sensing access. The deal bypasses the lengthy and costly process of building new satellites, aligning with Satellogic’s strategy to accelerate sovereign space capabilities through repurposed assets. Executives emphasized the strategic value of the acquisition, highlighting its role in advancing autonomous imaging systems and supporting Australian national interests. This landmark agreement underscores Satellogic’s expanding role in government contracts and orbital sustainability initiatives, directly driving investor optimism.