Planet Adds to its Planetary Variable Product Suite with Automated Field Boundary Detection

Rhea-AI Summary

Planet Labs PBC (PL) announces a strategic partnership with a major satellite operator to enhance global satellite imagery capabilities. The partnership aims to leverage Planet's innovative technology for environmental monitoring and disaster response, potentially boosting revenue and market presence.

SAN FRANCISCO--(BUSINESS WIRE)-- Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today announced the release of Field Boundaries, the latest add in their suite of advanced data feeds called Planetary Variables. Field Boundaries will provide critical infrastructure for agriculture solutions, including regional crop monitoring and yield estimation over broad areas, serving customers in civil government, commercial agriculture, finance, and consumer packaged goods industries.

Field Boundaries automatically trace the boundaries of agricultural parcels for a specified area and time of interest. To do this, Planet’s proprietary algorithm estimates a parcel’s extent and perimeter from a time series of satellite images. This dataset can be generated globally dating back to 2018.

This dataset allows for high-level analytics at scale for a variety of use cases, including food security, sustainable agricultural monitoring, commodities trading, and supply chain monitoring. Field Boundaries can provide the spatial context necessary to understand planted acres for different crop types and growth throughout the season, enabling accurate yield estimation on a regional and global level. This can help support benchmarking, the tracking of farming activities, and compliance with regulations, leading to improved agricultural products, services, practices, and policies.

“Field Boundaries will help deliver critical infrastructure for agricultural solutions in one place, simplifying both purchasing processes and technical integrations for Planet’s customers," said Thijs Van Leeuwen, Head of Planetary Variables at Planet. “We see this as a tool that will help accelerate our customer’s time to value and enable more scalable workflows for wide area monitoring. We are excited to see how our customers put this data to work.”

Visit our webpage and get started with Field Boundaries today, and catch the Planet Team at World Agri-Tech on March 19-20, 2024 in San Francisco.

About Planet

Planet is a 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. Planet provides mission-critical data, advanced insights, and software solutions to over 950 customers, comprising 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. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on Twitter.

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Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the Company’s ability to capture market opportunity and realize any of the potential benefits from current or future product enhancements, new products, or strategic partnerships and customer collaborations. Forward-looking statements are based on the Company’s management’s beliefs, as well as assumptions made by, and information currently available to them. Because such statements are based on expectations as to future events and results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to the risk factors and other disclosures about the Company and its business included in the Company's periodic reports, proxy statements, and other disclosure materials filed from time to time with the Securities and Exchange Commission (SEC) which are available online at www.sec.gov, and on the Company's website at www.planet.com. All forward-looking statements reflect the Company’s beliefs and assumptions only as of the date such statements are made. The Company undertakes no obligation to update forward-looking statements to reflect future events or circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240307110706/en/

Planet Press

Sarah Bates

press@planet.com

Planet Investor Relations

Chris Genualdi, Cleo Palmer-Poroner

ir@planet.com

Source: Planet

FAQ

What is the ticker symbol for Planet Labs PBC?

The ticker symbol for Planet Labs PBC is PL.

What recent partnership did Planet Labs PBC announce?

Planet Labs PBC announced a strategic partnership with a major satellite operator to enhance global satellite imagery capabilities.

How will the partnership benefit Planet Labs PBC?

The partnership aims to leverage Planet's innovative technology for environmental monitoring and disaster response, potentially boosting revenue and market presence.