Partnership brings together high-frequency satellite imagery with AI technology and unique digital infrastructure to drive sustainable, profitable, and proactive farming
Farmers Edge Inc. (TSX:FDGE), a pure-play digital agriculture company, today announced that it has entered into a new, three-year contract with Planet, a San Francisco-based integrated aerospace and data analytics company that operates the largest fleet of Earth-imaging satellites, collecting daily global data of the world. Planet's satellite data is processed using Farmers Edge proprietary algorithms, integrated into other field-centric datasets, then distributed to thousands of customers and partners in the agriculture industry who need accurate insights to make informed and profitable decisions.
Satellite imagery is an essential digital tool in the Farmers Edge product suite designed to support farmers and their trusted advisors in sustainable production of high-yielding, high-quality, and low-carbon crops. Near real-time crop monitoring with high-resolution, high-frequency satellite imagery enables directed scouting which allows farmers to catch problems fast, react to crop stress in a timely and precise manner, and substantially reduce the number of trips to the field otherwise required. The company also applies satellite imagery to develop sustainable cropping systems that make the most out of crop inputs while reducing environmental impacts.
Farmers Edge imagery-derived products are used beyond the farm. Agricultural insurance companies turn to this innovative technology for efficient and precise claims management, planting date verification, production data confirmation, and more.
"As we continue to grow, we are committed to enhancing our product suite to deliver digital tools that foster data-driven decisions for our farmer and partner network," said Wade Barnes, Farmers Edge Chief Executive Officer and Founder. "Farmers Edge is designing and developing new imagery-derived, analytics-based digital solutions to support sustainable, profitable, and proactive farming."
"Planet's daily, global satellite data combined with Farmers Edge advanced product suite empowers farmers across the globe to deploy precision agriculture practices, resulting in more efficient agricultural production," said Will Marshall, Planet CEO and Co-founder. "This data is key to fostering regenerative agricultural practices at scale; we're excited to continue partnering with Farmers Edge to drive toward a greener future."
Farmers Edge will meet its cloud and imagery cost savings guidance provided during the IPO process by adding this new contract in combination with other contractual commitments.
About Farmers Edge
Farmers Edge is leading the next agricultural revolution with the industry's broadest portfolio of proprietary technological innovations, spanning hardware, software, and services. Powered by a unique combination of connected field sensors, artificial intelligence, big data analytics, and agronomic expertise, the company's digital platform turns data into actions and intelligent insights, delivering value to all stakeholders of the agricultural ecosystem. Farmers Edge disruptive technologies accelerate digital transformation on the farm and beyond, protecting our global resources and ensuring sustainable food production for a rapidly growing population. For more information, please visit www.farmersedge.ca and SEDAR (www.sedar.com).