Planet will also be listed.
The San Francisco-based company, which operates the world’s largest fleet of Earth observation satellites, announced on Wednesday (July 7) that it would merge with a special purpose acquisition company (SPAC) called dMY Technology. Group, Inc..
Planet’s movement is part of the SPAC wave sweeping the aerospace industry. For example, in recent months, Astra, Rocket Lab, and Redwire have announced SPAC mergers, and Virgin Orbit is also considering a merger.
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This transaction valued Planet at $ 2.8 billion and will make the company public. The company representative stated that Planet will be listed on the New York Stock Exchange under the ticker symbol “PL”.
Planet generates 25 TB of data from approximately 200 satellites every day, most of which are shoebox-sized cube satellites called Doves (or more recently SuperDoves). The company sells this information to a variety of clients, from government agencies to farmers.
Planet also releases particularly important photos and data for free—for example, these images can help first responders respond to natural disasters such as wildfires and earthquakes. Company representatives said Planet’s data can help scientists and resource managers monitor climate change, deforestation and other issues affecting the world.
“As the world shifts to a more sustainable economy, more and more companies and governments have set their sustainability and ESG [Environmental, Social and Governance] goals, the first step towards achieving these goals It’s measurement,” CEO and partner Will Marshall-the founder of Planet said in a statement.
“Earth’s daily global data is critical to achieving this transformation,” he added, noting that the company takes images of the entire land of the earth every day. “We are very pleased to reach this important milestone to promote Planet to significantly accelerate our mission and to do so with dMY and other large investors.”
Mike Wall is “Out There” (Grand Central Publishing, 2018) ; The author of Karl Tate’s illustration), this is a book about the search for alien life. follow