Planet Announces New Details of Hyperspectral Offering

Rhea-AI Summary

Planet Labs PBC (NYSE: PL) has unveiled details regarding its new hyperspectral satellite constellation, Tanager, developed via a unique public-private partnership with the Carbon Mapper Coalition. The Tanager satellites will deliver hyperspectral data at 30-meter resolution across over 400 spectral bands. This initiative aims to enhance Planet's existing dataset and support applications in various industries, including agriculture and environmental monitoring, by identifying trends and mitigating risks. The first two satellites are set for launch in 2023.

Positive

• Launch of the Tanager satellite constellation aimed at providing valuable hyperspectral data.
• Collaboration with the Carbon Mapper Coalition enhances product offering and market potential.
• Potential applications in diverse industries such as agriculture, defense, and energy.

Negative

• Dependence on successful satellite launch and operation for realizing projected benefits.
• Risk factors related to regulatory approvals and technological execution remain a concern.

SAN FRANCISCO--(BUSINESS WIRE)-- Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today announced new details of its commercial hyperspectral constellation, which is being brought to market through a first-of-its-kind public-private partnership with the Carbon Mapper Coalition. The future hyperspectral satellites will be named Tanager, a colorful and visually diverse family of birds in Central and South America, and are designed to deliver hyperspectral data at a resolution of 30 meters with over 400 spectral bands.

Tanager rendering. © 2022, Planet Labs PBC. All Rights Reserved.

In combination with Planet’s existing medium (3-5 meter resolution, Dove) and high-resolution (<1 meter resolution, SkySat and future Pelican) constellations, the hyperspectral data provided by the Tanager satellites aims to complement and enhance Planet’s unprecedented dataset. Tanager is a family of birds who, similar to our planet, are threatened with endangerment if we don’t take substantive and data-backed action to protect ecosystems and resources. By helping to identify the spectral “signatures” of chemicals, materials, and processes across the globe, hyperspectral data can reveal otherwise hidden trends and could fill intelligence gaps and mitigate risks by exposing these challenges to decision makers.

Hyperspectral imaging offers a vast array of spectral insights as it divides the spectrum across a multitude of spectral bands, enabling analysts to review phenomena in many differentiated colors that are typically beyond human visual perception. The goal of Planet’s hyperspectral offering is to help customers reveal social, environmental, and climate risks in unprecedented detail and demonstrates Planet’s commitment to preserve biodiversity and to accelerate action on climate change as a part of the Carbon Mapper Coalition. ASU’s Center for Global Discovery and Conservation Science will also play a key role in the Carbon Mapper mission performing additional scientific research on hyperspectral applications.

With plans to launch the first two Tanager satellites in 2023, hyperspectral data holds immense potential to support applications in industries like agriculture, defense & intelligence, energy, civil government, and mining. The genesis of the Carbon Mapper initiative came from a need to use high quality hyperspectral data to locate methane point source emitters at the facility scale to support mitigation action. As part of the coalition, Planet remains committed to the public benefit mission of pinpointing, quantifying and tracking point-source methane and CO2 emissions, while also leveraging the technology’s other applications made possible with hyperspectral data to deliver additional value to its customers.

Beyond offering methane and CO2 signatures, Planet’s commercial hyperspectral offering looks to provide customers with data for dozens of other environmental applications and indicators that are needed to closely monitor the health of the planet. The satellites’ hyperspectral sensor technology, pioneered by NASA Jet Propulsion Laboratory (NASA JPL), will provide 30m resolution and a full spectral range of shortwave infrared and high-precision 5nm wide bands; this hyperspectral offering is designed to help organizations understand changes on land and at sea, from coastal zones to forests to urban areas and more.

As influential leaders meet this week to discuss a range of topics from the impact of infrastructure and buildings on our environment to how global food industries can cut greenhouse gas emissions to the importance of preserving and restoring the Earth’s ecosystems and biodiversity - it’s more critical than ever that businesses innovate and governments implement effective policies. These parties need targeted, actionable information as rapidly as possible and hyperspectral data can provide that critical intelligence layer. Sign up to receive updates on Planet’s hyperspectral commercial offering here.

About Planet Labs PBC

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, capturing over 30 TB of data per day. Planet provides mission-critical data, advanced insights, and software solutions to over 800 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 trading on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on Twitter.

Forward-looking Statements

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 successfully design, build, launch and deploy, operate and market new products and satellites and the Company’s ability to realize any of the potential benefits from product and satellite launches, either as designed, within the expected time frame, in a cost-effective manner, or at all. 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 Company’s ability to obtain and maintain required licenses and approvals from regulatory agencies, such as the Federal Communications Commission (FCC), in a timely fashion, or at all; whether the Company will be able to successfully build, launch and deploy or operate its satellites, including new satellites either as designed, in a timely fashion or at all; the Company’s ability to develop and release product and service enhancements to respond to rapid technological change, or to develop new designs and technologies for its satellites, in a timely and cost-effective manner; whether the Company will be able to continue to invest in scaling its sales organization, expanding its software engineering (including its ability to integrate new satellite capabilities) and marketing capabilities; whether the Company will be able to accurately predict and capture market opportunity; whether current customers or prospective customers adopt the Company’s platform or new products; the Company’s ability realize any of the potential benefits from new products and satellites, as well as strategic partnerships and customer collaborations; and 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/20220919005310/en/

Planet Press

Claire Bentley Dale

comms@planet.com

Planet Investor Relations

Chris Genualdi, Cleo Palmer-Poroner

ir@planet.com

Source: Planet

FAQ

What is the purpose of the Tanager satellites under Planet Labs PBC (PL)?

The Tanager satellites aim to deliver hyperspectral data to enhance Planet's existing datasets and support applications in monitoring environmental risks.

When are the first Tanager satellites expected to launch?

The first two Tanager satellites are scheduled for launch in 2023.

How does the partnership with the Carbon Mapper Coalition benefit Planet Labs PBC?

The partnership provides access to high-quality hyperspectral data, enhancing the company's product offerings and potential customer applications.

What industries can benefit from the hyperspectral data provided by Planet Labs PBC?

Industries such as agriculture, defense, energy, and civil government can benefit from the hyperspectral data for various applications.