Planet Federal Signs Contract Extension with National Reconnaissance Office

Rhea-AI Summary

Planet announced an expansion of its contract with the National Reconnaissance Office (NRO), enhancing access to its daily satellite data for the Department of Defense and Intelligence Community. This modification will allow monitoring in new areas and integrates Planet’s deep data archive from 2009 into the NRO's Commercial GEOINT Integration architecture. The addition of PlanetScope data will improve decision-making processes. Additionally, Planet is set to become publicly traded following a merger with dMY Technology Group (NYSE:DMYQ).

Positive

• Contract expansion with NRO enhances access to satellite data and includes new monitoring areas.
• Incorporation of Planet's data archive into NRO's system improves decision-making efficiency.
• Merger with dMY Technology Group will facilitate Planet's transition to a public company.

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)-- Planet, a leading provider of daily data and insights about the Earth, today announced that its wholly owned subsidiary, Planet Federal, expanded its contract with the National Reconnaissance Office (NRO) to provide the Department of Defense and Intelligence Community with continued access to Planet’s daily, unclassified satellite data. This contract modification expands NRO’s current access to now include monitoring over new areas of interest.

The extension also includes continued integration efforts to make Planet’s deep archive - dating back to 2009 - and daily satellite data, available to NRO users through their Commercial GEOINT Integration (CGI) architecture. While Planet’s high-resolution SkySat data is already available through the CGI architecture, incorporating Planet’s medium-resolution PlanetScope data into the same system enables faster decision-making by providing users with data in a more user-friendly fashion.

Planet’s hybrid constellation uses both an always-on monitoring mission and a high-resolution, rapid revisit tasking system to provide critical intelligence to the federal government when they need it most. This contract modification both expands access to that data and incorporates it seamlessly into existing workflows.

“As the world becomes more visibly connected, be it by sensors on the ground or in space, it is more important than ever that resilience and diversity of sources are integrated into foundational monitoring capabilities,” said Robbie Schingler, Planet’s Co-founder and Chief Strategy Officer. “Commercial satellite data can augment government systems, and together, promote a more transparent and secure world. Planet’s deep stack of unclassified data will only further diversify NRO’s system architecture and we look forward to continuing to evolve our work together.”

Earlier this year, Planet entered into a definitive merger agreement with dMY Technology Group, Inc. IV (NYSE:DMYQ), a special purpose acquisition company, to become a publicly-traded company.

About Planet

Planet is the leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest earth observation fleet of imaging satellites, capturing and compiling data from over 3 million images per day. Planet provides mission-critical data, advanced insights, and software solutions to over 700 customers, including the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. To learn more visit www.planet.com and follow us on Twitter at @planet.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211116005525/en/

Press

Megan Zaroda

Comms@planet.com

IR

Chris Genualdi

ir@planet.com

Source: Planet

FAQ

What is the latest contract expansion announcement by Planet?

Planet announced an expansion of its contract with the NRO to provide enhanced access to daily satellite data, including new monitoring areas.

How does the expansion of the contract with the NRO affect Planet's operations?

The expansion improves decision-making by integrating Planet's deep data archive and medium-resolution PlanetScope data into the NRO's existing systems.

What is the significance of Planet's merger with dMY Technology Group (NYSE:DMYQ)?

The merger will enable Planet to become a publicly traded company, enhancing its market presence and opportunities.

What types of satellite data does Planet provide under the NRO contract?

Planet provides daily unclassified satellite data, including high-resolution SkySat data and medium-resolution PlanetScope data.

When will Planet become a publicly traded company?

Planet is set to become publicly traded following its merger with dMY Technology Group, a special purpose acquisition company.