Creotech Instruments, Poland’s largest manufacturer and supplier of space technologies to global partners, has signed a partnership agreement with Malaysia’s University College TATI. The partners will work together to develop satellite and drone products aligned to the needs of the Southeast Asia market. The agreement provides for constructing a satellite with an optical instrument for Earth observation based on the Creotech Instruments’ HyperSat microsatellite platform and developing special software leveraging satellite and drone data for Malaysia. Signed for five years, the agreement also provides for the founding of a Satellite and Drone Technology Excellence Center at the University College TATI. Today, 20 June 2022, marks the last day of subscriptions for Institutional Investors as part of the Public Offering worth up to PLN 39.65m. The shares are scheduled for allotment on 24 June 2022.
Creotech Instruments operates across three areas, implementing technological projects for the satellite, drone and quantum markets. Within the first segment, the company is developing its proprietary Hypersat platform, which will offer subsystems and a platform for telecommunications and observation satellites. Creotech is eyeing to market Hypersat in late 2023 or early 2024. In line with the assumptions of the company’s growth strategy regarding the commercialization of satellite and drone products, both existing ones and those still under development, on 19 June 2022 Creotech concluded a partnership agreement with the University College TATI.
“We consider this to be a crucial partnership as it allows us to present Creotech Instruments’ strengths in another region of the world, this time in the distant Southeast Asia. Under the contract concluded with Malaysia’s University College TATI, we will develop advanced satellite and drone technologies that meet the needs of this country. We already have a specific project schedule with the agreement made for a period of five years,” says Jacek Kosiec, Vice President of Creotech Instruments S.A. “I am very glad that the expertise and experience of Creotech engineers have once again been recognized. Our ambition is to become a leader in the global microsatellite market. The agreement with UC TATI perfectly aligns with this strategy,” he adds.
This is not Creotech’s only partnership with a foreign entity. Systems designed by the Piaseczno-based company are used in the most modern and technologically advanced research institutions in the world, including at the European Organization for Nuclear Research (CERN) in Geneva, the Institute for Heavy Ion Research (GSI), or the DESY research center in Germany, as well as at MIT, Berkley University, and NIST in the USA.
The company plans to acquire funds for the further development of key R&D projects through its pending Public Offering worth PLN 39.65m. Subscriptions for the Institutional Investors Tranche close today, 20 June 2022. For all details of the Public Offering, visit: https://creotech.pl/ipo/
The shares will be allotted on 24 June.
In July 2022, Creotech Instruments plans to transfer the listing of its shares from NewConnect to the Main Market of the Warsaw Stock Exchange.