Planet Labs PBC (PL) Expands Multi-Year Contract With Instituto Geográfico Agustín Codazzi (IGAC)
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.
While we acknowledge the potential of PL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best Aerospace Stocks to Buy Now and 13 Best Global Stocks to Buy Right Now.
Disclosure: None.
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