Planet Labs to Invest in Berlin Satellite Production Site

Planet Labs PBC is investing an eight-figure sum in a Berlin satellite production site. The company provides global, daily satellite imagery and geospatial solutions to over 1,000 customers, including agriculture, forestry, intelligence, education, and finance companies, and government agencies. The investment will enable Planet Labs to expand its satellite fleet and increase its data and analytics offerings.

Planet Labs PBC, a leading provider of global, daily satellite imagery and geospatial solutions, is set to invest an eight-figure sum in a new satellite production site in Berlin. This strategic move aims to expand the company's satellite fleet and enhance its data and analytics offerings, particularly in response to growing demand from the European market.

The new facility, expected to create up to 70 jobs when fully operational, will double the overall production capacity of Planet's Pelican satellite fleet. This expansion will be crucial for meeting the urgent need for high-performance satellite and intelligence solutions in Europe. The investment is part of a broader strategy to bolster Planet's position as a trusted partner for customers seeking enhanced daily monitoring, indication, and warning systems, as well as responsive space capabilities.

Planet Labs' decision to establish this new manufacturing facility in Germany underscores the country's attractiveness and competitiveness in the space sector. The investment is also seen as a vote of confidence in Germany's high-tech and space industry, with the German government providing attractive conditions and guarantees. This move aligns with the country's goal of being among the frontrunners in the space race and strengthening its technological sovereignty.

The expansion follows strong growth in Planet's European operations, including a multi-year €240 million agreement with the German government and a key contract with NATO. These partnerships reflect a global imperative for enhanced daily monitoring and responsive space capabilities. Planet Labs has a long history in Germany, with Berlin serving as its European headquarters and contributing significantly to the global management of its constellation.

About Planet Labs PBC
Planet Labs PBC is a public benefit corporation listed on the New York Stock Exchange as PL. It is the parent company of the Planet group, which includes Planet Labs Germany GmbH, based in Berlin. 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. Its satellite data and analytics reveal actionable insights regarding important phenomena such as deforestation, agriculture, climate change, biodiversity, and supply chains worldwide. Planet's digital technology platform includes Agile Aerospace, Proprietary Big Data, and Platform and Analytics.

Forward-looking Statements
Certain statements in this article are forward-looking statements about Planet within the meaning of the securities laws, including statements about Planet's future cash flows and revenue, strategic partnerships, the expansion of its high-resolution capacity, and future growth in new and existing markets. Such statements involve estimates, assumptions, judgments, and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Planet's filings with the Securities and Exchange Commission. Planet does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.