Creotech Instruments eyes move to WSE main market in 2022. The company plans to put its microsatellite into orbit in 2023

Creotech Instruments S.A.’s management board called a General Meeting for 18 November 2021, at which the shareholders will vote to approve the transfer of the company’s listing to the Warsaw Stock Exchange’s main market. The company believes that EagleEye, the first microsatellite fully developed by Creotech Instruments, will be launched to orbit around the Earth in 2023. Weighing 50 kg, the satellite will serve as a testbed for new Earth observation technologies. The success of the research mission will allow the company to tap into a market worth USD 11 billion and position it among the TOP8 microsatellites manufacturers in the world.

The management board of Creotech Instruments called a General Meeting of Shareholders for 18 November 2021 to vote on a resolution on applying for admission and introduction of the company’s series A, B, C, D, E, F, G and H ordinary bearer shares to trading on the regulated market operated by the WSE.

“Our successful NewConnect debut is a token of trust and confidence in our business model and strategic plans. Now, we want to take the next step and realize our long-standing ambition of joining the ranks of companies listed on the Warsaw Stock Exchange’s main market. This move will further add to the credibility and transparency of our operations and open up access to new investors. We are hoping to make our WSE debut in 2022, a year when we will be pursuing a number of operational initiatives in preparation for projects slated for 2023 and 2024,” says Grzegorz Brona, President of the Management Board of Creotech Instruments S.A.

EagleEye will be the first satellite based on the universal HyperSat microsatellite platform in development since 2017. HyperSat will facilitate the construction of relatively cheap yet fully-fledged observation, telecommunications and scientific satellites in the 10 to 60-kilogram range. EagleEye is a joint project between three Polish space tech companies, Creotech Instruments S.A. (project leader), Scanway Sp. z o. o. and the Space Research Center of the Polish Academy of Sciences (PAN). The partners secured funding for the EagleEye program, which boasts a total budget of PLN 40 million, in 2020.

“We have concluded our analyses indicating that EagleEye should be ready to go to orbit in 2023. This mission aims to test the HyperSat solution, provide high-resolution imagery of the Earth, and test the propulsion module that will bring EagleEye down to very low Earth orbit. Once the mission is completed, Creotech Instruments will be able to offer a competitive microsatellite solution on the global market,” adds Grzegorz Brona.

The company plans to launch another three smaller units weighing about 10 kg based on the HyperSat technology in 2024. The units are being developed together with the Military University of Technology as part of the PIAST program. EagleEye is designed to be interoperable with PIAST satellites and thus offer a broad range of observation capabilities. The HyperSat technology will also be used in UVSAT, a scientific mission whose assumptions are currently being worked out. In July 2021, Creotech Instruments SA, the Institute of Aviation, the Space Research Center, the Military University of Technology, and PCO S.A. signed an agreement to develop the technology further.