Planet Labs to design specialized methane-detecting satellite
Planet Labs PBC announced plans to design a specialized methane-detecting satellite, the SWIR-only Tanager, in collaboration with Carbon Mapper and the Jet Propulsion Laboratory, aiming for a 2028 launch. The new satellite will offer increased coverage and high-resolution imaging to detect methane plumes and support environmental monitoring applications. The company continues to expand its satellite constellation and has reported strong financial performance, though its stock appears overvalued according to some analysis.
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SAN FRANCISCO - Planet Labs PBC (NYSE:PL) announced plans to design a specialized version of its Tanager spacecraft focused on detecting methane and trace gases, according to a press release statement. The stock traded at $34.08, down 11% over the past week despite posting a remarkable 936% return over the last year. The company said it will develop a shortwave infrared-only Tanager satellite in collaboration with Carbon Mapper and the Jet Propulsion Laboratory. The specialized spacecraft is designed to capture five times the area coverage of existing Tanager satellites, with an imagery swath of 100 kilometers while maintaining 30-meter resolution. Planet’s revenue grew 26% over the last twelve months to $307.73 million, maintaining an impressive gross profit margin of 56%.
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