Planet Labs Unit Signs Two-Year Contract With Czech Agency

MT Newswires Live05-13

Planet Labs (PL) said Wednesday its Sinergise Solutions unit has signed a two-year, seven-figure contract with the Czech Republic's State Agricultural Intervention Fund to provide satellite imagery and artificial intelligence-based analytics for agricultural monitoring.

Exact financial terms of the deal were not provided.

The company said the agreement is expected to support the country's agricultural payments and monitoring system and cover about 25,000 farming operations.

Planet said the project will combine its satellite data with analytics developed alongside Asseco Group to automate monitoring and validation of activities, including crop identification and harvest timing.

Shares of the company were down 2.6% in Wednesday trading.

Price: 39.77, Change: -0.93, Percent Change: -2.29

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