Poland acquires stake in ICYEYE

Poland has acquired a stake in ICEYE , the Finnish satellite company specializing in Earth-observation satellites equipped with Synthetic Aperture Radar technology. The investment, made through Vinci SA (the state development bank BGK’s vehicle), totaled over $11 million, with an option to expand its holding.

The move follows Poland’s May agreement to purchase three ICYEYE satellites, with the option for three more, in a deal valued at around €200 million ($233 million). ICYEYE, founded in 2014, has launched 54 satellites to date and works with defense forces across Europe and beyond.

CEO Rafal Modrzewski plans to expand production in Poland to meet growing demand for real-time defense imagery as regional governments increase defense spending.