Planet Labs PBC (NYSE:PL) is among the 10 Best Low Priced Defense Stocks to Buy Now. On July 17, the company announced a multi-year contract expansion with Colombia’s Instituto Geográfico Agustín Codazzi (IGAC), in partnership with Procalculo.
A satellite in orbit against a blue sky, displaying the power of the company’s space-based systems.
IGAC is a Colombian government body that is responsible for managing, generating, and disseminating geographic and cartographic data. In 2023, it signed a contract with Planet Labs PBC (NYSE:PL) for access to SkySat tasking and daily monitoring with PlanetScope to strengthen land-use planning in the country.
Under the contract expansion, IGAC will continue to leverage Planet Labs PBC (NYSE:PL)’s technology for national land management. It will also now incorporate AI-powered change detection services and the Planet Insights Platform, which will further assist the entity in infrastructure, urban planning, and environmental management.
Ashley Johnson, President and CFO at Planet Labs PBC (NYSE:PL) had the following to say on the agreement:
“By working in collaboration with IGAC and our partner Procalculo, we’re excited to see how Planet’s data is being used for nationwide disaster response, monitoring public policy compliance, and detecting changes through artificial intelligence across Colombia. By leveraging our platform and AI-powered analytics, IGAC will continue advancing near-daily broad area land management at scale.”
Planet Labs PBC (NYSE:PL) provides global daily satellite imagery and geospatial solutions. The stock has had impressive returns in 2025, gaining 55% year-to-date.
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Disclosure: None.