US Government Awards Planet EOCL Contract
May 25 2022 - 10:30AM
Business Wire
NRO contract to expand government access to
Planet’s commercial satellite data
Planet Labs PBC (NYSE: PL), a leading provider of daily data and
insights about Earth, today announced that the National
Reconnaissance Office (NRO) has selected Planet Labs Federal, Inc.
(Planet Federal), Planet’s wholly owned subsidiary, for an award to
the Electro-Optical Commercial Layer (EOCL) contract. EOCL is the
U.S. government’s industry-defining procurement vehicle for
unclassified commercial satellite imagery and represents the
Federal government’s significant investment in and commitment to
the commercial remote sensing sector and the capabilities and value
it provides.
Planet Federal’s EOCL award will enable the NRO and its
partners, including those across the US national security
community, to access Planet’s high and medium resolution, daily
satellite imagery for an initial period of up to five years, with
options to extend the contract up to a total contract performance
term of 10 years. Through the award, users will have access to
Planet’s market-defining earth observation data, including daily,
medium resolution PlanetScope and high resolution SkySat. Once in
orbit and operational, users will also have access to Planet’s next
generation, rapid revisit Pelican fleet that is expected to deliver
up to 30cm resolution data. The contract also makes available
Planet’s unequaled archive of over 2,000 images of every point on
the Earth’s landmass, dating back to 2009.
“Planet has been proud to partner with the US government for
many years, and the EOCL award is the next giant leap in our work
together,” said Robbie Schingler, Planet’s co-founder and Chief
Strategy Officer. “We have long held the conviction that
unclassified commercial satellite imagery not only equips the
government with differentiated and innovative intelligence
capabilities, but also increases transparency and accountability
that advances global security, as well as trust between government
and citizens. EOCL is this conviction realized.”
NRO maintains relationships with select commercial imagery
providers, including Planet Federal, to augment national
capabilities and support the diverse and evolving needs of the US
national security community. Planet has been honored to partner
with the government and has had active contracts with NRO since
2019, and with the National Geospatial-Intelligence Agency (NGA)
since 2016. The data and insights that Planet will provide to the
NRO through EOCL will support critical strategic decisions and
operations on short timelines. The contract will enable sharing of
commercial satellite imagery across the various agencies of
government and with allies and partners, increasing knowledge
transfer and empowering more users with timely, mission critical
information to achieve their objectives.
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 700 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, Planet’s ability to capture market opportunity
and realize any of the potential benefits from current or future
contract awards, product enhancements, new products, or strategic
partnerships and customer collaborations. Forward-looking
statements are based on Planet’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: Planet’s ability to invest in
sales, marketing and software solutions to drive expansion within
its existing customer base and further penetrate verticals;
Planet’s ability to obtain or maintain regulatory approvals and/or
adhere to regulatory requirements, including those related to
Planet’s ability to operate as a government contractor with the
required security clearances; changes in government policies
regarding the use of commercial data or satellite operators,
material delay or cancellation of certain government programs,
government spending authorizations and budgetary priorities;
changes in general global economic conditions, Planet’s operations
(including the development, launch and operation of satellites) or
other unforeseen circumstances that may alter or delay Planet’s
ability to perform under future contracts and may impact the
renewal and final profitability of such contracts; the cancellation
of contracts by the government and any potential contract options
which may or may not be exercised by the government in the future;
and the risk factors and other disclosures about Planet and its
business included in Planet’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 Planet’s website at www.planet.com. All
forward-looking statements reflect Planet’s beliefs and assumptions
only as of the date such statements are made. Planet undertakes no
obligation to update forward-looking statements to reflect future
events or circumstances.
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Planet Press Claire Bentley Planet Labs PBC comms@planet.com
Planet Investor Relations Chris Genualdi, Cleo Palmer-Poroner
Planet Labs PBC ir@planet.com
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