Creotech Instruments, a Polish satellite manufacturer and provider of satellite systems and components listed on the Warsaw Stock Exchange, has begun the book-building process for its Series K Share offering. On 4 February 2025, the Company’s Management Board passed a resolution to offer up to 475,000 ordinary bearer Series K Shares by way of a private subscription to selected investors, under the terms set out in the issuance resolution of the Extraordinary General Meeting (EGM) dated 30 January 2025 – this includes shareholders with preemptive rights. The final price per Series K Share will be determined upon completion of the book-building process. In this offering, the Company is supported by CC Group (IR and financial advisor), with Trigon Dom Maklerski S.A. serving as the Lead Manager.

On 20 December 2024, Creotech Instruments announced the signing of a contract with the State Treasury – Armament Agency for the production and delivery of the Mikroglob Satellite Earth Observation System, covering phases B, C, D, and E1. Valued at PLN 556.7m gross (PLN 453m net), the project is slated for completion by 31 March 2027. A portion of the funding required for this contract will come from the proceeds of the Series K Share issue, while the remaining amount will be provided through tranches disbursed for each phase of the program.

“Our newly launched Series K Share Offering is directed at selected investors and is intended to raise funds that will enable us to implement Mikroglob, a program of strategic importance for Poland’s security. This is the largest contract in the history of the Polish space sector that will expand the Polish Armed Forces’ capabilities in gathering reconnaissance data through their own optoelectronic Earth observation satellite systems. Our role is to deliver and launch four microsatellites based on our proprietary HyperSat platform into low, Sun-synchronous orbit. These microsatellites will be equipped with optical instruments to collect and transmit image data to a ground segment, which will itself be divided into two further segments: Mission Control and Image Data Processing. The contract with the State Treasury – Armament Agency is set to run until the end of March 2027 and will significantly bolster our country’s security,” said Grzegorz Brona, PhD, President of the Management Board (CEO) of Creotech Instruments S.A.

The Series K Share issue is carried out with the full exclusion of existing shareholders’ preemptive rights. However, shareholders holding at least 0.5% of Creotech Instruments shares as at the EGM record date (14 January 2025) who meet at least one of the following conditions – are qualified investors or subscribe for a total of at least EUR 100,000 worth of new shares – are entitled to a priority allocation of the new shares in a quantity that allows them to maintain at least the same proportion of votes at the Company’s General Meeting as they held as at the end of the EGM record date.

“Implementing the Mikroglob contract will generate revenues for the Company several times greater than the total of all our projects to date. On one hand, this will significantly strengthen our financial stability and enable us to continue growing; on the other, it will reinforce our market position as the main contractor in key space projects in Poland and as a company capable of coordinating similar contracts at the European level, including those run in partnership with the European Space Agency. At the same time, we are continually pursuing additional contracts that will be carried out both during and after completion of the Mikroglob project,” added Grzegorz Brona.

Creotech Instruments specializes in satellite systems and advanced electronics, including for quantum applications. It is the only Polish company with microsatellite manufacturing capabilities, covering satellites from 10 kg to several dozen kg. A significant milestone for the company was the 2024 launch of the EagleEye test microsatellite, based on the company’s proprietary HyperSat platform. The platform supports a wide array of missions, from technological and scientific to observational, telecommunications, and deep space projects. Its modular design allows for scalability of satellites within the 10-60 kg range and potentially even up to 200 kg in the future.

Creotech Instruments is also involved in multiple early-phase (phase 0/A) projects with the European Space Agency (ESA) that have significant potential to evolve into large-scale initiatives. Among the key projects are the Plasma Observatory, Space Weather Nanosatellites System Enhancement, the Pan Twardowski mission, and Visdoms SBOM. Recently, Creotech Instruments signed a contract with ESA to develop key components that will allow the integration of terrestrial private mmWave 5G networks with satellite-based 5G NTN (Non-Terrestrial Networks) services. Successful completion of this project could enhance the company’s competitiveness in the 5G and 6G technology markets and open up further commercial opportunities in this sector. Beyond its space-focused initiatives, the company is also focusing on quantum communication products. For instance, it is contributing to the development of a quantum computer for the European Commission. Going forward, Creotech Instruments aims to develop proprietary, turnkey solutions in both quantum technologies and ultra-precise time synchronization.

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