SAN FRANCISCO--(BUSINESS WIRE)--Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today announced it has signed a multi-year data-license agreement with Carbon Mapper, Inc. to provide hyperspectral core imagery to the non-profit and its partners until 2030. The $20 million agreement is made possible by initial funding led by a major climate philanthropy. Carbon Mapper, Inc. has been a key partner to Planet in developing the Tanager hyperspectral constellation, and this contract extension marks an important step in the continuation of the coalition’s shared mission to help improve understanding of and accelerate reductions in global methane and carbon dioxide (CO2) emissions.
“Securing this continued partnership with Planet will help Carbon Mapper deliver high resolution methane and CO2 super-emitter data to decision makers around the globe,” said Riley Duren, Carbon Mapper’s Chief Executive Officer. “In particular, this agreement lays the groundwork for further expansion of the constellation of Tanager satellites and the extension of Carbon Mapper’s mission to make methane and CO2 visible in a transparent fashion through our public data portal.”
“We are on the verge of being able to precisely characterize facility-scale methane emissions across the globe,” said Mark Keremedjiev, Planet’s Mission Director for the Tanager Hyperspectral Mission. “We believe the Tanager constellation will help enable real action in the fight against climate change and this contract extension with Carbon Mapper ensures our ability to provide uniquely powerful data for the long term.”
The first Tanager satellite is planned to launch in 2024 and is designed to capture hyperspectral imagery across the visible and shortwave infrared regions (VSWIR). This contract marks an extension to an existing data-license agreement between Planet and Carbon Mapper. The multi-year extension covers 2026 to 2030. Beyond methane detection and CO2 measurements, Tanager data are planned to address a wide-range of potential use cases across commercial, civil, and defense applications.
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. 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.
About Carbon Mapper Inc
Carbon Mapper is a nonprofit based in Pasadena, CA with the mission to drive greenhouse gas emissions reductions by making methane and carbon dioxide data accessible and actionable. Carbon Mapper is focused on filling gaps in the emerging ecosystem of methane and CO2 monitoring systems by delivering data at facility scale that is precise, timely, and accessible to empower science-based decision making and action. The organization leads a public-private partnership including Planet Labs, PBC and NASA’s Jet Propulsion Laboratory among others focused on developing and deploying a constellation of satellites capable of detecting, quantifying, and verifying methane emissions worldwide. Data from these satellites will offer the next major step in scaling up the thousands of methane plumes and CO2 plumes already publicly available on the Carbon Mapper data portal. Learn more at carbonmapper.org, view our data at data.carbonmapper.org, and follow us on Twitter @carbonmapper
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 capture market opportunity and realize any of the potential benefits from current or future product enhancements, new products, or strategic partnerships and customer collaborations, 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 other risk factors and 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.
