US government grants Planet EOCL contract
We are pleased to announce that the National Reconnaissance Office (NRO) has selected Planet Labs Federal, Inc. (Planet Federal), our wholly owned subsidiary, for the Electro-Optical Commercial Layer (EOCL) contract award. EOCL is the US government’s industry-defining acquisition vehicle for unclassified commercial satellite imagery and represents the federal government‘s significant investment and commitment to the commercial remote sensing sector and the capabilities and value it offers.
Planet Federal’s EOCL award will allow NGOs and their partners, including those from the US national security community, to access our daily high- and medium-resolution satellite imagery for an initial period of up to five years, with options to extend of the contract up to a total contract term of 10 years. The award gives users access to our market-defining Earth observation data, including daily medium-resolution PlanetScope data and high-resolution SkySat. Once in orbit and operational, users will also have access to our next-generation Pelican fleet, which can be quickly revisited and is expected to provide data at up to 30cm resolution. The contract also makes available our unprecedented archive of over 2,000 images from every point on the Earth’s landmass, dating back to 2009.
“Planet is proud to have worked with the US government for many years, and the EOCL award is the next big leap in our collaboration,” said Robbie Schingler, Planet’s co-founder and chief strategy officer. “We have long believed that unclassified commercial satellite imagery not only provides government with differentiated and innovative intelligence capabilities, but also increases transparency and accountability, which promotes global security and trust between government and citizens. EOCL is this belief realized.”
NGO maintains relationships with select commercial imaging providers, including Planet Federal, to expand national capabilities and support the diverse and evolving needs of the US national security community. Planet is honored to work with the government and has active contracts with the NGO since 2019 and the National Geospatial-Intelligence Agency (NGA) since 2016. The data and insights we provide to the NGO through EOCL will support important strategic decisions and operations in short timeframes. The contract will enable the sharing of commercial satellite imagery among government agencies and with allies and partners, improving knowledge transfer and giving more users timely, mission-critical information to help them achieve their goals.
Except for the historical information contained herein, the matters discussed 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 take advantage of market opportunities and potential Realize benefits from current or future contract awards, product improvements, new products or strategic partnerships and customer collaborations. Forward-looking statements are based on the beliefs of Planet’s management and assumptions and information currently available to them. Because such statements are based on expectations of future events and results and are not statements of fact, actual results may differ materially from those projected. Factors that could cause actual results to differ materially from current expectations include, among others, Planet’s ability to invest in sales, marketing and software solutions to drive expansion within its existing customer base to penetrate industries; Planet’s ability to obtain or maintain regulatory approvals and/or comply with regulatory requirements, including those relating to Planet’s ability to operate as a government contractor with required security clearances; changes in government policies related to the use of commercial data or satellite operators, material delays or cancellations of certain government programs, government spending approvals and budget priorities; Changes in general global economic conditions, Planet’s business (including the development, launch and operation of satellites), or other unforeseen circumstances that may alter or delay Planet’s ability to perform future contracts and affect the renewal and ultimate viability of such contracts ; the termination of contracts by the government and any potential contract options that may or may not be exercised by the government in the future; and the risk factors and other disclosures about Planet and its business contained in Planet’s periodic reports, proxy statements and other disclosure materials filed with the Securities and Exchange Commission (SEC) from time to time and online at www.sec.gov are available, 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 any forward-looking statements to reflect future events or circumstances.