NGA Gives GeoEye $111 Million for Satellite Development Milestone

[Satellite TODAY 06-29-12] GeoEye has received a $111 million EnhancedView cost-share payment from the National Geospatial-Intelligence Agency (NGA), GeoEye announced June 28 – just days after learning the NGA’s plans to cease funding its program contract.

   GeoEye successfully passed a milestone in their GeoEye-2 satellite’s development in early June that triggered the cost-share payment.
   “In passing this critical milestone and receiving the $111 million cost-share payment, GeoEye has once again demonstrated its technical leadership and its ability to meet the U.S. government’s stringent EnhancedView program requirements, on time and on budget,” GeoEye CEO Matt O’Connell said in a statement. “Most importantly, GeoEye-2 will provide our warfighters with exceptional, unclassified imagery on a daily basis, anytime and anywhere in the world.”
   GeoEye-2 will commence operations in 2013, providing shareable imagery for the U.S. government and other customers. The company said GeoEye-2 aims to set new standards with collection capabilities, accuracy and resolution exceeding that of the company’s closest competitors. 

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