What Is The Reason For Planet Labs (PL) Stock Rise Today?

A strategic move by Planet Labs PBC (NYSE: PL) helped its shares rise by 11.38% in Wednesday’s session to $6.85. PL stock ended the last trading session at $6.15, trading 3.03 million shares.

PL has made a move, what is it?

Planet Labs (PL) has signed a multi-year contract with Saint Louis University to support the Taylor Geospatial Institute (TGI), a leading geospatial research organization. Bringing together eight universities and research centers in the Midwest, TGI is committed to harnessing geospatial science innovation and solving global issues. Researchers at TGI will be able to explore food security, geospatial health, and national security issues using PL’s satellite data.

The agreement is PL’s largest direct engagement with universities to date. It allows the company to reach a broader range of university users. Members of TGI’s Education and Research Program will be able to access PL data through this multiuser agreement. Following are the other members of the TGI consortium:

  • Saint Louis University,
  • The Donald Danforth Plant Science Center,
  • Harris-Stowe State University,
  • Missouri University of Science & Technology,
  • University of Illinois Urbana-Champaign,
  • University of Missouri-Columbia,
  • University of Missouri, St. Louis, and
  • Washington University.

Over 5,000 faculty members and 100,000 students are attached to these institutions collectively.

How TGI will be benefited?

With this consortium, the Taylor Geospatial Institute is able to take advantage of some of the region’s most talented and diverse users, who are seeking to solve some of the world’s most pressing problems. It’s clear to PL that these students and researchers will use the company’s satellite data to ensure global safety and well-being. TGI students and researchers will use time-stamped satellite big data to address grand societal challenges such as food, water, human security, and environmental conservation.

In what way will this partnership be beneficial?

Geospatial community takes a big step forward with this partnership. As TGI provides its collaborative network of students and researchers with access to Planet Labs’ (PL) cutting-edge satellite data capabilities, they are establishing a global center of excellence for geospatial research. A unique satellite capability and archive available from PL will enable Taylor Geospatial Institute to advance cutting-edge geospatial technologies for innovation and impact. Geospatial science future leaders must also have access to PL’s data.