Latest news with #PlanetLabs
Yahoo
3 hours ago
- Business
- Yahoo
Planet Labs Lands €240M German Contract, Expands Global Defense Footprint
Planet Labs (NYSE:PL) is one of the best space stocks to buy according to hedge funds. On July 1st, the company announced a €240 million multi-year satellite services contract with the German government, one of the largest in its history. The deal includes direct downlink from its next-generation Pelican satellites, high-resolution SkySat imagery, and AI-enhanced surveillance tools, specifically designed for security, infrastructure monitoring, and maritime awareness. The services are set to begin in January 2026. Around the same time, Planet revealed four additional wins in the defense and intelligence sector, including an expanded partnership with the U.S. Defense Innovation Unit for Indo-Pacific threat detection, a seven-figure contract with the U.S. Navy for maritime operations, and a NATO surveillance contract focused on early warning systems. Copyright: lexaarts / 123RF Stock Photo All four were disclosed in a July 1st press release. While analyst updates following the announcement are still pending, firms like Needham, Wedbush, and Cantor Fitzgerald have recently reaffirmed bullish stances, citing strong momentum in Planet's government and AI verticals. Planet Labs PBC, founded by ex-NASA engineers in 2010, operates the world's largest fleet of Earth observation satellites. It provides daily imagery and AI-driven analytics to customers in defense, agriculture, climate monitoring, and urban planning. While we acknowledge the potential of PL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Yahoo
a day ago
- Business
- Yahoo
Planet Labs Lands €240M German Contract, Expands Global Defense Footprint
Planet Labs (NYSE:PL) is one of the best space stocks to buy according to hedge funds. On July 1st, the company announced a €240 million multi-year satellite services contract with the German government, one of the largest in its history. The deal includes direct downlink from its next-generation Pelican satellites, high-resolution SkySat imagery, and AI-enhanced surveillance tools, specifically designed for security, infrastructure monitoring, and maritime awareness. The services are set to begin in January 2026. Around the same time, Planet revealed four additional wins in the defense and intelligence sector, including an expanded partnership with the U.S. Defense Innovation Unit for Indo-Pacific threat detection, a seven-figure contract with the U.S. Navy for maritime operations, and a NATO surveillance contract focused on early warning systems. Copyright: lexaarts / 123RF Stock Photo All four were disclosed in a July 1st press release. While analyst updates following the announcement are still pending, firms like Needham, Wedbush, and Cantor Fitzgerald have recently reaffirmed bullish stances, citing strong momentum in Planet's government and AI verticals. Planet Labs PBC, founded by ex-NASA engineers in 2010, operates the world's largest fleet of Earth observation satellites. It provides daily imagery and AI-driven analytics to customers in defense, agriculture, climate monitoring, and urban planning. While we acknowledge the potential of PL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Globe and Mail
3 days ago
- Business
- Globe and Mail
Planet Expands Multi-Year Contract with Instituto Geográfico Agustín Codazzi (IGAC), Providing Satellite Data and AI-Powered Analytics Feeds Across Colombia
Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about change on Earth, today announced a multi-year contract expansion with the Instituto Geográfico Agustín Codazzi (IGAC), in partnership with Planet geospatial intelligence partner Procalculo. With this contract, IGAC will continue leveraging Planet's technology for national land management, now incorporating the Planet Insights Platform and the AI-powered change detection service for roads and buildings. These tools will enhance analysis and decision-making in urban planning, infrastructure, and environmental management. IGAC is the governmental entity in Colombia responsible for generating, managing, and disseminating geographic and cartographic data. In 2023, Planet signed a contract with IGAC to provide advanced access to SkySat tasking and daily monitoring with PlanetScope, thereby strengthening land-use planning and risk management throughout the country. With the expansion of the contract, IGAC leverages a comprehensive ecosystem of Planet solutions, including the Planet Insights Platform for geospatial data analysis and management, SkySat Flexible Tasking, PlanetScope Monitoring, Planet Change Detection: Roads and Buildings, and the Education & Research package, aimed at supporting government-led research initiatives. "By working in collaboration with IGAC and our partner Procalculo, we're excited to see how Planet's data is being used for nationwide disaster response, monitoring public policy compliance, and detecting changes through artificial intelligence across Colombia," said Ashley Johnson, Planet President and CFO. "By leveraging our platform and AI-powered analytics, IGAC will continue advancing near-daily broad area land management at scale." With this expanded data access and collaboration with Procalculo, IGAC is strengthening its ability to enforce regulations, identify and monitor risks such as floods and landslides, and carry out land management efforts throughout Colombia. By integrating Planet's data into its government platform, the Observatorio de la Tierra y el Territorio (OTT), IGAC is able to efficiently support various organizations aiming to conduct AI-enabled change analysis, monitor infrastructure, support urban planning, and evaluate land-use over time—becoming a key input for informed decision-making. "Planet offers a unique combination of satellite data and analytical capabilities that we can integrate into our national management systems to provide decision-makers with up-to-date data and information that ensure reliable insights about the territory," said Anderson Puentes Carvajal, Director of the Dirección de Gestión de Información Geográfica at IGAC. "By leveraging Procalculo's expertise along with Planet's advanced data and analytical tools, we're making significant progress in change detection and the implementation of public policies at both national and local levels across the country." 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 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 and follow us on X (formerly Twitter) or tune in to HBO's ' Wild Wild Space '. About Procalculo Procalculo, a multilatina company with over 50 years of experience in specialized geographic information, offers a robust portfolio that includes satellite imagery distribution, GIS software, and geospatial analysis services. Throughout its history, the company has worked closely with government agencies and private sector organizations on projects involving cartography, environmental monitoring, territorial planning, and risk management. Procalculo currently serves as the official distributor of Planet solutions in Colombia, Ecuador, and Panama, providing end-to-end support for implementation and technical assistance. Forward-looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding Planet's product development and performance and its future execution and performance under contracts. Planet's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties, including those detailed in Planet's filings with the Securities and Exchange Commission. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.
Mint
3 days ago
- Business
- Mint
New pier completed at North Korea rocket launch site, satellite imagery shows
By Mike Stone and Ju-min Park July 17 - Satellite imagery indicates that a new maritime pier has been completed at North Korea's key rocket station, where the latest spy satellite launches and other rocket tests have been conducted, satellite operator ICEYE said. The pier at the Sohae Satellite Launching Station seen via the imagery "enables transport of larger rocket components than previously possible via rail", ICEYE said in findings provided to Reuters. Larger components would allow the site to host rockets that can travel longer distances. North Korean leader Kim Jong Un in 2022 inspected the Sohae facility and ordered it to be modernised and expanded to ensure that various rockets, including those capable of carrying military spy satellites, could be launched, state media said. The facility has been used to put a satellite in orbit and also to test various missile components including rocket engines and space launch vehicles that South Korean and U.S. officials say require similar technology to that used in intercontinental ballistic missiles . An image from July 9 also shows the pier with a newly constructed jetty and vessels indicating potential operational status, according to ICEYE, a sign that could help enhance Sohae's logistical capabilities. ICEYE added that it took about 28 months from initial reports to develop and complete the pier. Work to expand the road and rail infrastructure throughout the facility continues, according to 38 North, a Washington-based North Korea monitoring programme. Satellite images, taken from December to July by the commercial satellite firm Planet Labs, also show what appears to be a pier under construction on the shore. Pyongyang's latest attempt to launch a military spy satellite at the Sohae site failed in May 2024 but Kim has vowed to never give up the space reconnaissance project that he views as crucial for national self defence against enemy threats. North Korea successfully placed its first spy satellite in orbit in November 2023. As part of growing military ties with Moscow, North Korea is likely getting help from Russia on its satellite programme in exchange for sending troops to support Russia in its war against Ukraine, South Korean officials have said. North Korea says its military activities, including nuclear weapons, are its sovereign right and only for self defence. It accused the United States and its allies of threatening it with "hostile policies" such as military drills and sanctions.
AsiaOne
3 days ago
- Business
- AsiaOne
New pier completed at North Korea rocket launch site, satellite imagery shows, Asia News
Satellite imagery indicates that a new maritime pier has been completed at North Korea's key rocket station, where the latest spy satellite launches and other rocket tests have been conducted, satellite operator ICEYE said. The pier at the Sohae Satellite Launching Station seen via the imagery "enables transport of larger rocket components than previously possible via rail", ICEYE said in findings provided to Reuters. Larger components would allow the site to host rockets that can travel longer distances. North Korean leader Kim Jong Un in 2022 inspected the Sohae facility and ordered it to be modernised and expanded to ensure that various rockets, including those capable of carrying military spy satellites, could be launched, state media said. The facility has been used to put a satellite in orbit and also to test various missile components including rocket engines and space launch vehicles that South Korean and US officials say require similar technology to that used in intercontinental ballistic missiles (ICBM). An image from July 9 also shows the pier with a newly constructed jetty and vessels indicating potential operational status, according to ICEYE, a sign that could help enhance Sohae's logistical capabilities. ICEYE added that it took about 28 months from initial reports to develop and complete the pier. Work to expand the road and rail infrastructure throughout the facility continues, according to 38 North, a Washington-based North Korea monitoring programme. Satellite images, taken from December to July by the commercial satellite firm Planet Labs, also show what appears to be a pier under construction on the shore. Pyongyang's latest attempt to launch a military spy satellite at the Sohae site failed in May 2024 but Kim has vowed to never give up the space reconnaissance project that he views as crucial for national self defence against enemy threats. North Korea successfully placed its first spy satellite in orbit in November 2023. As part of growing military ties with Moscow, North Korea is likely getting help from Russia on its satellite programme in exchange for sending troops to support Russia in its war against Ukraine, South Korean officials have said. North Korea says its military activities, including nuclear weapons, are its sovereign right and only for self defence. It accused the United States and its allies of threatening it with "hostile policies" such as military drills and sanctions. [[nid:719926]]
