Palantir Inks $43M Space Systems Command Contract Extension

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Palantir Inks $43M Space Systems Command Contract Extension

By Sam Boughedda — Palantir Technologies Inc (NYSE: PLTR ) revealed Thursday that the Space Systems Command's (SSC) Cross-Mission Ground & Communications Enterprise (ECX) awarded it a $43 million contract to continue its delivery of a data and decision platform to support "national security objectives."

The new contract is an additional extension, expanding on the previous awards earlier this year. Today's deal takes the contract's total value to $91.5 million.

The Palantir platform, named Warp Core, is used to make decisions from large volumes of data in support of missions, helping to support Project Brown Heron which enables all-domain situational awareness and decision-making.

"The threats to our nation in and through the space domain are very real as we've seen in recent weeks, we must continue to advance our Nation's Space Domain Awareness capabilities," said Doug Philippone, global defense lead at Palantir Technologies.

In a separate announcement, Palantir said it has signed a multi-year agreement with Kinder Morgan (NYSE: KMI ), an energy infrastructure company, to use the Foundry platform in their storage operations.

Palantir shares are up 0.31% in late morning trading.

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