Latest news with #ICEYE
Time of India
a day ago
- Business
- Time of India
Finland backs space tech ICEYE firm with R&D funding
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Finland's business promotion agency has granted research and development funding to satellite and defence technology company ICEYE , the two entities said on Thursday, in what marks another step in European efforts to support the booming owned ICEYE has grown rapidly in recent years and says its fleet of 48 Synthetic Aperture Radar satellites providing near real-time imaging is now the largest, counting Ukraine, NATO and Japan among its agency, Business Finland , said it has assigned 41.1 million euros ($47.2 million) to the Finland-based company's 250-million-euro ($287 million) investment programme to strengthen its position as a global pioneer in space and defence technology."It will strengthen the entire space and defence sector and have a wide-ranging positive impact across the whole ecosystem," head of Business Finland Lassi Noponen said in a the Ukraine war raging next to its borders and global security threats on the rise, the European Union has embarked on a 800 billion euro programme to shore up its defence, with tech startups expected to play a significant satellite constellation works by bouncing a radar beam off the surface of the Earth from approximately 550 km (342 miles) in space to build a detailed picture of the ground, regardless of weather conditions or daylight, the company said."We have clearly ended up being in the right place at the right time with this technology. There is a great need to develop such sovereign capability," ICEYE chief of strategy Pekka Laurila addition to data, ICEYE also sells radar imaging satellites, as many countries are increasingly keen on having their own capacity to be able to monitor around the clock what happens on the CEO Rafal Modrzewski said the increased interest in space was driven both by technological advances and the Ukraine war that highlighted the importance of satellite technologies."This technology will be critical for national security," he told Reuters in a recent 250 million-euro investment programme will allow it to expand its satellite manufacturing capabilities, develop new sensors and upgrade its satellite platforms, the company said.
Reuters
a day ago
- Business
- Reuters
Finland backs space tech ICEYE firm with R&D funding
HELSINKI, June 19 (Reuters) - Finland's business promotion agency has granted research and development funding to satellite and defence technology company ICEYE, the two entities said on Thursday, in what marks another step in European efforts to support the booming sector. Privately owned ICEYE has grown rapidly in recent years and says its fleet of 48 Synthetic Aperture Radar satellites providing near real-time imaging is now the largest, counting Ukraine, NATO and Japan among its customers. Government agency, Business Finland, said it has assigned 41.1 million euros ($47.2 million) to the Finland-based company's 250-million-euro ($287 million) investment programme to strengthen its position as a global pioneer in space and defence technology. "It will strengthen the entire space and defence sector and have a wide-ranging positive impact across the whole ecosystem," head of Business Finland Lassi Noponen said in a statement. With the Ukraine war raging next to its borders and global security threats on the rise, the European Union has embarked on a 800 billion euro programme to shore up its defence, with tech startups expected to play a significant role. ICEYE's satellite constellation works by bouncing a radar beam off the surface of the Earth from approximately 550 km (342 miles) in space to build a detailed picture of the ground, regardless of weather conditions or daylight, the company said. "We have clearly ended up being in the right place at the right time with this technology. There is a great need to develop such sovereign capability," ICEYE chief of strategy Pekka Laurila said. In addition to data, ICEYE also sells radar imaging satellites, as many countries are increasingly keen on having their own capacity to be able to monitor around the clock what happens on the globe. ICEYE's CEO Rafal Modrzewski said the increased interest in space was driven both by technological advances and the Ukraine war that highlighted the importance of satellite technologies. "This technology will be critical for national security," he told Reuters in a recent interview. The 250 million-euro investment programme will allow it to expand its satellite manufacturing capabilities, develop new sensors and upgrade its satellite platforms, the company said. ($1 = 0.8712 euros)
Korea Herald
2 days ago
- Business
- Korea Herald
South Gyeongsang Province inks space tech deal with Finland's ICEYE
South Gyeongsang Province has signed an investment and business cooperation agreement with ICEYE, a Finnish global leader in synthetic aperture radar technology for small satellites, the province announced Thursday. The agreement was formalized on Monday in Copenhagen, Denmark, during a visit by a delegation from the province led by Governor Park Wan-soo. South Gyeongsang Province is home to the nation's newly established space agency, the Korea AeroSpace Administration. The partnership aims to support the province's growing aerospace industry by integrating ICEYE's advanced satellite capabilities. ICEYE operates the world's largest fleet of SAR satellites, which provide high-resolution Earth observation data — up to 25 centimeters — regardless of weather or lighting conditions. To date, the company has launched 48 satellites for both internal and client missions. SAR technology, which uses radar to capture images of the Earth's surface, is effective for observation at night or through cloud cover. It is used across a range of sectors, including disaster monitoring, national defense and environmental surveillance. Under the agreement, the two parties plan to explore joint initiatives such as partnerships with local companies, expanded use of satellite constellations, promotion of the satellite data industry and development of related talent. 'South Gyeongsang Province is the center of South Korea's aerospace industry, ranking first nationally, and this agreement with ICEYE will serve as a turning point for expanding our aerospace industry into the global market,' Governor Park said. 'The province will provide full support to ensure successful cooperation between the two parties.'
Yahoo
14-05-2025
- Business
- Yahoo
ICEYE to provide SAR satellites for the Armed Forces of Poland
The SAR satellites will be delivered to the Polish Armed Forces' MikroSAR program. HELSINKI and WARSAW, Poland, May 14, 2025 /PRNewswire/ -- ICEYE, the global leader in Synthetic Aperture Radar (SAR) satellite operations, today signed an agreement with the Ministry of National Defense of the Republic of Poland to deliver the Polish Armed Forces with an initial batch of three ICEYE SAR satellites, and an option to purchase three more satellites and additional ground segment capabilities in the next 12 months, under the Polish Armed Forces' MikroSAR program. As part of the agreement, ICEYE will also partner with local industry to provide the Polish Armed Forces with a mobile Intelligence, Surveillance and Reconnaissance (ISR) platform that provides near real-time tasking, data downloads, and analysis. The total value of the agreement is approximately €200 million. The implementation of the agreement commences immediately. This agreement further solidifies ICEYE's position as the leading provider of SAR satellites for military and civilian applications worldwide. ICEYE's SAR satellites enable continuous monitoring of points of interest on the Earth's surface regardless of the time of day and weather conditions. "ICEYE is proud to strengthen defense capabilities in Poland with cutting-edge SAR satellites. Our advanced, operationally proven satellite system provides actionable intelligence for resilience, readiness, and response, and enables informed and rapid decision-making in an increasingly complex and uncertain world. As a European provider, ICEYE is ideally positioned and ready to provide sovereign reconnaissance systems for ISR activities. The ICEYE system is engineered to also enable sharing capacity and cross-tasking with other nations, if so desired, to optimize the use of the combined fleets for enhancing collective space defense capabilities of European and allied nations," said Rafał Modrzewski, CEO and Co-founder of ICEYE. "This is a great day for the Polish Armed Forces and Poland, because they are gaining full independence in radar reconnaissance and imaging. We are proud that a Pole founded a company like ICEYE. We are also certain that we are acquiring the absolute best capabilities in the world. Freedom and independence will only be defended by sovereignty and innovation, and the applications of the technology acquired today have military significance, but also economic applications," said Władysław Kosiniak-Kamysz, Deputy Prime Minister and Minister of Defense of the Republic of Poland. ICEYE owns and operates the world's largest constellation of SAR satellites, providing unlimited global access and the highest revisit frequency available on the market. ICEYE's SAR satellites provide the industry's highest resolution of 25 cm, allowing for accurate object detection and situational awareness regardless of weather and lighting conditions. To date, ICEYE has launched 48 satellites for its own and its customers' use. About ICEYE ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before. Owning the world's largest synthetic aperture radar (SAR) satellite constellation, ICEYE provides objective, near real-time insights, ensuring that customers have unmatched access to actionable data, day or night, even in challenging environmental conditions. As a trusted partner to governments and commercial industries, ICEYE delivers intelligence in sectors such as defense and intelligence, insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance, enabling decision-making that contributes to community resilience and sustainable development. ICEYE operates internationally with offices in Finland, Poland, Spain, the UK, Australia, Japan, UAE, Greece, and the US. We have more than 700 employees, inspired by the shared vision of improving life on Earth by becoming the global source of truth in Earth Observation. Media contact: press@ Visit and follow ICEYE on LinkedIn and on X to keep up to date with the latest information. View original content to download multimedia: SOURCE ICEYE Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-05-2025
- Business
- Yahoo
Rheinmetall to expand satellite business, citing Ukraine support deal
THE HAGUE, Netherlands — Rheinmetall and Finnish satellite manufacturer ICEYE signed a memorandum of understanding on Thursday, establishing a joint venture focused on satellite production. The new company, named 'Rheinmetall ICEYE Space Solutions,' represents a significant step in the German defense giant's expansion into the space domain and a continuation of Germany's and Europe's broader rearmament efforts. Under the agreement, Rheinmetall will hold a 60% majority stake in the venture, with ICEYE owning the remaining 40%. The joint venture will focus initially on manufacturing Synthetic Aperture Radar (SAR) satellites before expanding to other space capabilities. Defense companies jack up Germany's auto industry to make weapons fast SAR technology allows surveillance satellites to see through clouds and can increase the resolution of the output image. It has been ICEYE's area of specialization, with Rheinmetall describing its partner as a 'globally leading SAR satellite manufacturer' in its press release. Production is scheduled to begin in the second quarter of 2026, with Rheinmetall's Neuss facility in western Germany serving as one of the primary manufacturing sites. The factory was previously focused on automotive manufacturing. This satellite-building initiative is part of a broader 'Rheinmetall Space Cluster' being created by the German defense company. 'With the establishment of the new joint venture, we are making further inroads into the space domain,' said Armin Papperger, CEO of Rheinmetall AG. 'We are thus not only responding to the increased demand for space-based reconnaissance capabilities among armed and security forces worldwide, but also contributing to the preservation and expansion of Germany as a centre of technology.' The partnership builds on an existing collaboration that reached a significant milestone in November 2024, when Rheinmetall and Ukraine signed a contract – with German government support – to provide critical SAR satellite data to Ukraine's Ministry of Defence. The arrangement extends the satellite reconnaissance capabilities that ICEYE has been providing to Ukraine since 2022, helping inform operational planning as Ukrainian forces face the continued onslaught of Russian troops in the third year of Moscow's full-scale war. Also in 2024, Rheinmetall secured the exclusive rights to market SAR satellites to government and military users in Germany and Hungary. Thursday's move aligns with Rheinmetall's ambitions of grabbing market share amid skyrocketing demand for military hardware in Europe, with an aggressive Russia to the east and an increasingly unpredictable United States to the west. As part of this effort, Rheinmetall has started to repurpose some of its automotive manufacturing capacity. 'Our highly qualified colleagues at the Neuss site are being given a promising new perspective for the future,' said the arms maker's CEO of the pivot.
