EarthDaily Analytics Terminates Operations in Russia

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Mar 10, 2022, 11:00 ET

Company announces public initiative to help assess the conflict's impacts on the global agricultural supply chain

VANCOUVER, BC, March 10, 2022 /PRNewswire/ -- EarthDaily Analytics Corp. ("EDA" or the "Company"), a vertically-integrated data processing and analytics company pairing cutting-edge Big Data tools with proven Space technologies, today announced that the Company is terminating its operations in Russia, including the closure of its local agricultural geoanalytics office in Moscow. The Company has also terminated its development-stage contract with Russian Earth Observation company TerraTech, under which the Company would have provided Earth Observation data derived from the EarthDaily Constellation following its launch in 2023. These decisions are consistent with the Company's core values and adherence to ESG principles.

EarthDaily Analytics also recognizes the far-reaching global impacts the ongoing crisis will have, particularly with regards to agricultural supply chains and food security, and is in discussions with customers, as well as humanitarian and non-governmental organizations, to provide analysis to help address these issues. This analysis will also be made available to the public.

"We are shocked and saddened by recent events in Ukraine, and it is hard to comprehend the challenges our colleagues, customers, and their families and friends in the region face in the days and weeks ahead," said Don Osborne, CEO of EarthDaily Analytics. "As we work to support those directly impacted, we are also acutely aware of the profound broader impact that the Russia-Ukraine conflict will have on global agricultural markets. Wheat, corn, barley, and oilseed crops are crucial to global agricultural markets, and this conflict adds significantly to the pre-existing challenges of global food security. In an effort to support a better understanding and response to this issue, EarthDaily intends to produce regularly updated crop progress reports based on daily satellite and weather data. As appropriate, we will collaborate with and make this agricultural analysis available to approved humanitarian and non-governmental organizations focused on hunger prevention and food security."

About EarthDaily Analytics

EarthDaily Analytics (EDA), headquartered in Vancouver, British Columbia, is a vertically integrated data processing and analytics company, utilizing cutting-edge Big Data tools and proven Space technologies to provide value-added insights to the people, businesses, and governmental entities confronting the world's most pressing challenges. Through its EarthDaily Agro (formerly Geosys) subsidiary, EDA has a track record of more than 30 years as a leader in the collection and commercial application of Earth Observation data for agriculture analytics.

In 2021, EDA initiated construction of the EarthDaily Constellation with committed support from Antarctica Capital. Following planned launches in 2023, the EarthDaily Constellation will combine with the EarthPipeline data processing system to provide unprecedented, scientific-grade data of the world every day, positioning EDA to meet the growing needs of diverse industries including agriculture, Environmental, Social and Governance (ESG), insurance, disaster prevention and recovery, commodities trading, and more.

For more information, visit www.earthdaily.com.

Contact:
Tyler Coleman
[email protected]

SOURCE EarthDaily Analytics