10:24 AM EST, 12/02/2024 (MT Newswires) -- Planet Labs (PL) said Monday it will provide its satellite-data derived forest carbon monitoring products to Laconic under a multi-year, "seven-figure" deal.

Under the terms of the deal, Laconic will receive Planet Labs' three-meter Forest Carbon Monitoring product and its 30-meter Forest Carbon product for the next three years.

Laconic operates the SADAR Natural Capital Monetization platform, which provides the structured data, real-time tracking, and artificial intelligence-powered verification required for carbon securities to trade in the global market, the company said.

Planet Labs shares were up 7.6% in recent trading.

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