US Government Awards Planet EOCL Contract

US Government Awards Planet EOCL Contract

May 25, 2022 by Business Wire Defense: Contracts News

Key Facts

  • SAN FRANCISCO--(BUSINESS WIRE)--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.
  • “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.

  • Tweet this 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.

  • 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.

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