Planet Launches First Tanager-1 Hyperspectral Satellite and 36 SuperDoves with SpaceX

We are thrilled to announce today that our first hyperspectral satellite, Tanager-1, along with 36 SuperDoves (Flock 4BE) were successfully launched into orbit during the Transporter-11 Rideshare mission with SpaceX, which lifted off from Vandenberg Space Force Base on Friday, August 16, 2024. Our team has successfully made contact with Tanager-1 and started its commissioning process.

Tanager-1 is made possible by the Carbon Mapper Coalition, a philanthropically-funded effort to develop and deploy satellites designed to detect and track methane and CO2 super-emitters at a level of granularity needed to support direct mitigation action. Tanager-1 combines Planet's cutting-edge agile aerospace and smallsat bus technology with the state-of-the-art imaging spectrometer design developed at NASA's Jet Propulsion Laboratory (JPL).

^{Tanager satellite. Image provided by Planet.}

"This is an amazing all California effort! A Planet satellite carrying a JPL payload on a SpaceX rocket, from Vandenberg Air Force Base for a California charity Carbon Mapper to help the State of California! We're proud to be a part of it," said Will Marshall, Co-Founder and CEO of Planet. "Delivering innovative space-based solutions to our customers that improve environmental conditions is core to our mission. Placing cutting-edge imaging spectrometer technology in a smallsat bus platform is a remarkable achievement for this Coalition. I'm incredibly proud of our team and everyone who helped bring this satellite to life."

^{SpaceX's live stream of Tanager deployment. Image credit: SpaceX.}

Methane is a potent greenhouse gas that has accounted for around 30 percent of atmospheric warming since 1750. In order to slow and ultimately halt global warming, methane emissions must be slashed this decade along with a sustained program to reduce carbon dioxide (CO2) emissions. Future Tanager imagery will be analyzed by expert scientists at Carbon Mapper for methane and CO2 source detection and quantification, meanwhile we at Planet will commercialize the hyperspectral data for a variety of use cases including defense and intelligence monitoring, biodiversity assessments, mineral mapping, and water quality assessments.

"The successful launch of Tanager-1 is a testament to the power of collaboration," said Laurie Leshin, Director of NASA's Jet Propulsion Laboratory. "Our partnership with Planet and Carbon Mapper exemplifies how we can come together to develop innovative solutions that address our most urgent climate challenges. JPL has a long history of developing advanced instruments and the imaging spectrometer onboard Tanager-1, combined with Planet's expertise, will drive impact for environmental monitoring and mitigation. We're excited to see the continued success of this coalition and are proud to be part of it."

"Any serious effort to tackle climate change must include a focus on minimizing high emission point sources, particularly methane 'super-emitters' where a small fraction of infrastructure contributes disproportionately to total emissions," said Riley Duren, Co-Founder and CEO of Carbon Mapper. "There are solutions at hand today that are capable of eliminating unnecessary leaks and wasteful practices but until now most emission sources have remained unobserved at the granular scales necessary to guide mitigation action. We're incredibly excited to apply Tanager's unique capabilities to make methane and CO2 emissions visible at high resolution globally-translating data into transparent and actionable information to help decision makers act now. There's no time to waste."

In addition to Tanager-1, the Transporter-11 rocket delivered 36 of our SuperDoves to orbit to contribute to our flagship daily, global monitoring mission. PlanetScope data is used by hundreds of our customers in defense and intelligence, civil government, and commercial markets to take informed action, and better contextualize events they're seeing on the ground now. Our daily scan and deep archive of data across the globe is unique within the industry and provides our customers with a continuous and comprehensive view of their areas of interest. Further, the archive acts as a rich training ground for predictive machine-learning and advanced artificial-intelligence models, accelerating users' ability to draw insights from the terabytes of data collected by Planet each day.

Forward Looking Statements

Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the Company's ability to capture market opportunity and realize any of the potential benefits from current or future product enhancements, new products, or strategic partnerships and customer collaborations, the Company's ability to successfully design, build, launch and deploy, operate and market new products and satellites and the Company's ability to realize any of the potential benefits from product and satellite launches, either as designed, within the expected time frame, in a cost-effective manner, or at all. Forward-looking statements are based on the Company's management's beliefs, as well as assumptions made by, and information currently available to them. Because such statements are based on expectations as to future events and results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to the Company's ability to obtain and maintain required licenses and approvals from regulatory agencies, such as the Federal Communications Commission (FCC), in a timely fashion, or at all; whether the Company will be able to successfully build, launch and deploy or operate its satellites, including new satellites either as designed, in a timely fashion or at all; the Company's ability to develop and release product and service enhancements to respond to rapid technological change, or to develop new designs and technologies for its satellites, in a timely and cost-effective manner; whether the Company will be able to continue to invest in scaling its sales organization, expanding its software engineering (including its ability to integrate new satellite capabilities) and marketing capabilities; whether the Company will be able to accurately predict and capture market opportunity; whether current customers or prospective customers adopt the Company's platform or new products; the Company's ability to realize any of the potential benefits from new products and satellites, as well as strategic partnerships and customer collaborations; and other risk factors and disclosures about the Company and its business included in the Company'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 the Company's website at www.planet.com. All forward-looking statements reflect the Company's beliefs and assumptions only as of the date such statements are made. The Company undertakes no obligation to update forward-looking statements to reflect future events or circumstances.

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