{"id":6076,"date":"2025-01-31T01:40:40","date_gmt":"2025-01-30T17:40:40","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/planet-secures-230-million-commercial-deal-for-pelican-satellite-fleet\/"},"modified":"2025-01-31T01:40:40","modified_gmt":"2025-01-30T17:40:40","slug":"planet-secures-230-million-commercial-deal-for-pelican-satellite-fleet","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/planet-secures-230-million-commercial-deal-for-pelican-satellite-fleet\/","title":{"rendered":"Planet Secures $230 Million Commercial Deal for Pelican Satellite Fleet"},"content":{"rendered":"

\"Planet<\/p>\n

Planet Labs PBC<\/strong>, a leading provider of daily data and insights about Earth, announced the signing of a multi-year $230 million agreement to expand its partnership with a long-standing, Asia-Pacific commercial partner. Pursuant to the agreement, Planet will build and deliver a constellation of new Pelican high resolution satellites, securing certain capacity on the satellites for the partner, in addition to providing operational services. Planet will leverage the increased capacity of the expanded fleet to serve its own government and commercial customers around the world.<\/p>\n

\u201cThis agreement represents a significant milestone for Planet, it is our largest contract to date, and is a major step forward in what we see as a very large market opportunity for satellite services,\u201d said Will Marshall, Planet\u2019s CEO and Co-founder<\/strong>. \u201cThese types of partnerships are a win-win: our partners gain critical satellite capabilities and priority access to leading-edge technology, while they help Planet accelerate key space programs and create synergistic benefits for all our customers. We are strategically pursuing a select number of similar opportunities, spanning our Pelican, Tanager and SuperDove satellites across the defense and intelligence, civil government, and commercial sectors.\u201d<\/p>\n

\u201cToday\u2019s announcement builds on Planet\u2019s ability to leverage its advanced space systems capabilities and IP to create unique value for partners,\u201d said James Mason, Planet\u2019s Chief Space Officer.<\/strong> \u201cOur trusted partners have long expressed interest in our proprietary space systems technology and we\u2019re proud to be able to fulfill their needs with our satellites and services. Our vertical integration and agile aerospace capabilities enable us to scale to customer and partner demand.\u201d<\/p>\n

Planet expects to recognize the $230 million of commercial payments from the partner as revenue over the build and operational service period of the satellites, which is estimated to be approximately seven years. Today\u2019s announcement does not change Planet\u2019s previously issued fourth quarter financial guidance provided as part of the Company\u2019s December 9, 2024, earnings release.<\/p>\n

\n

Also Read: What are the Different Types of Satellite Services?<\/h4>\n<\/div>\n

\u201cAs shared on our prior earnings calls, we view these types of opportunities as highly strategic, enabling us to provide a differentiated capability for key partners and strengthen our financial position without taking on dilutive capital or debt,\u201d said Ashley Johnson<\/strong>, Planet\u2019s President and Chief Financial Officer<\/strong>. \u201cWe expect this expanded partnership will be meaningfully cash flow accretive to Planet in FY’26, and will strengthen our balance sheet for FY’27 and beyond. We look forward to sharing more details on our next earnings call.\u201d<\/p>\n

This is the third strategic space systems partnership Planet has signed in the last four years. In partnership with the Carbon Mapper Coalition, Planet has built, launched and deployed Tanager, a first-of-its-kind hyperspectral satellite, which is now producing a powerful dataset for use by customers and partners across government and commercial markets. In support of NASA\u2019s Communications Services Project (CSP), Planet is developing real-time space-to-space connectivity solutions between Pelican and partner satellites with technology demonstrations onboard Planet\u2019s Smallsat platform in 2025.<\/p>\n

Pelican is Planet\u2019s next generation high resolution satellite, which enables continuity and enhancements over the current SkySat fleet, including in image quality, spectral bands, imaging capacity and latency. Planet successfully launched the Pelican-2 satellite on January 14, 2025, including the latest NVIDIA GPU processor for AI on the edge and satellite to satellite communications, which are together designed to enable Planet to deliver critical data to its customers in minutes rather than hours.<\/p>\n

Planet\u2019s geospatial data supports a range of applications, commercial, governmental, and public benefit, in agriculture, land use, defense, insurance, and sustainability. By offering real-time insights into global events like conflicts, disasters, natural resources, and commerce, Planet enhances efforts to advance peace and security, manage resources, and create business value.<\/p>\n","protected":false},"excerpt":{"rendered":"

Planet Labs PBC, a leading provider of daily data and insights about Earth, announced the signing of a multi-year $230 million agreement to expand its partnership with a long-standing, Asia-Pacific commercial partner. Pursuant to the agreement, Planet will build and deliver a constellation of new Pelican high resolution satellites, securing certain capacity on the satellites […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[26,25,20],"class_list":["post-6076","post","type-post","status-publish","format-standard","hentry","category-news","tag-ground","tag-launch","tag-satellite"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/6076"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=6076"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/6076\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=6076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=6076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=6076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}