Author: Scanway
Publication date:
Scanway—a Polish leader in optical technologies for Earth observation from space—has signed a cooperation agreement with a U.S. client to supply a new class of optical instruments for the satellite constellation being built by the partner. The agreement also provides for an agreed-upon profit-sharing arrangement based on the potential commercialization of data recorded by the Company’s telescope under a Data-as-a-Service (DaaS) model. According to the Company’s estimates, the value of the agreement may reach approximately $4.3 million (approx. 15.5 million PLN at the National Bank of Poland exchange rate as of January 22) and covers payment for the delivery of the first optical instrument, which is scheduled to be delivered to the customer within 24 months of the project’s operational launch. The contract signed today is of a strategic nature—it significantly impacts the Company’s backlog (order portfolio) as well as its growth and financial prospects.
- Scanway will develop, for the first time, a new class of telescope that integrates several cameras operating in different wavelength ranges, which will be used in a satellite constellation currently under construction for Earth observation
- The remuneration due to the Company will be paid in installments upon the achievement of specific project milestones. In addition, the Company expects to receive funds from the commercialization of data generated by its optical instrument, which will enable it to build stable and recurring revenue streams
- The new partner is an experienced company based in the United States that specializes in the design and implementation of large-scale space missions, including satellite operations conducted for commercial clients.
– The cooperation agreement signed today with a U.S. client provides the basis for the Company to carry out further activities and operational tasks, the completion of which will result in the release of individual payment installments. This is yet another agreement of a collaborative nature, and we view it as the beginning of a long-term partnership. For the first time, we will carry out a project involving a telescope that integrates several cameras operating in different spectral ranges. Acquiring new technological capabilities will enable us to enter new markets, further develop our product portfolio, and strengthen our cooperation with entities in the U.S. space sector. – says Mikołaj Podgórski, COO of Scanway S.A. – The instruments we supply will be used in the Earth observation satellite constellation our partner is building, which is based on a larger number of smaller units. This approach embodies the essence of New Space – he concludes.
The signed agreement also provides for the commercialization of data recorded by the Scanway telescope, which will be used as part of the satellite constellation currently under construction. This data will be made available to international customers under a Data-as-a-Service (DaaS) model based on an agreed profit-sharing arrangement, under which the Company is entitled to a percentage of the profits starting with the very first commercialized data package. In accordance with market practice, this model involves providing customers with satellite data streams on a subscription basis or through long-term contracts, without requiring them to bear the costs of building and maintaining their own satellite infrastructure. The financing of additional optical instruments is planned through co-financing with the Partner, based, among other things, on cash generated from the DaaS model.
– From Scanway S.A.’s perspective, the Data-as-a-Service (DaaS) model has the potential to generate stable and recurring revenue streams that, in the long term, could exceed the value of the entire satellite. The growing demand for satellite data makes the DaaS model a natural path for monetizing services within the global New Space ecosystem, strengthening the downstream segment as the most profitable part of the space sector. I am pleased that we are gradually building our position in this segment, adding another project—with the potential to generate revenue from the sale of data recorded by the Scanway optical instrument—to our contract for processing lunar data for the ESA. – explains Jędrzej Kowalewski, President of the Management Board of Scanway S.A. – The agreement signed today is directly in line with the implementation of the “Scanway S.A. Strategy for 2026–2028,” in particular by strengthening and commercializing the Company’s capabilities in building a complete optical data chain, known as APAP—from acquisition, through processing and analytics, to event prediction based on that data. In my view, the contract signed today is of significant importance for the Company’s financial and growth prospects – he concludes.
Detailed information regarding the number of optical instruments delivered, their technical specifications, the customer’s name, and plans for the development of the entire constellation is subject to trade secrecy and constitutes confidential information. The Company’s partner is a space industry entity headquartered in the United States that specializes in satellite technologies, including the design and manufacture of components and complete satellites. It has an experienced management and engineering team with many years of expertise in the design, integration, testing, and execution of satellite operations, both for commercial clients and government agencies.
Scanway S.A. has been actively supporting the development of the space economy for years and is currently Poland’s leading exporter of space technologies. The company carries out constellation projects for global clients, including Nara Space from South Korea (worth 2.7 million EUR), Marble Imaging from Germany (worth 3.2 million EUR), and a client from Asia (worth 9.0 million EUR) (all ongoing projects have the potential for expansion). The company also possesses expertise in designing optical instruments for deep-space missions, including those to the Moon. It will be the first Polish company to supply optical instruments for a commercial lunar mission. Furthermore, it will develop a European system for processing satellite data from the Moon and may link Europe with the U.S. Artemis lunar program, currently the largest and most advanced in the world.
Scanway S.A.’s strategic, long-term goal is to become one of the world’s leading commercial optical payload integrators. The key objective by the end of 2028 is to become one of the largest optical payload integrators in Europe.
About Scanway:
Scanway S.A. is a Polish company that has been in business for over 10 years. It specializes in the optical data chain, which includes data acquisition, processing, analytics, and event prediction based on that data. In the Space segment, the company provides both hardware solutions (optical instruments, such as telescopes and cameras) and imaging analytics. In the Industry segment, it offers solutions (products) based on image data processing, including complete quality control systems. The Company’s expertise and experience in both fields are complementary and create synergies. Scanway strives to provide its customers with full access to key optical data in both segments.
As one of only a dozen or so companies worldwide, Scanway has developed a complete range of optoelectronic products for Earth observation from orbit. The company carries out key contracts for space equipment in Poland and around the world, including for commercial clients. It also operates STAR VIBE, Poland’s longest-operating optical observation satellite. The company’s solutions have been incorporated into the most important European and Polish space missions of 2024. Among other achievements, the company installed its equipment (the Scanway Camera System) on the maiden flight of Europe’s newest launch vehicle, Ariane 6, and delivered Poland’s largest-ever telescope, weighing approximately 10 kg (SOP200) to EagleEye—the largest satellite Poland has ever sent into space.
The company has completed nearly 50 quality control implementations in the industrial sector. As a technology partner to the sector’s largest manufacturers, it develops proprietary software solutions using AI and advanced applications for Industry 4.0.
In October 2023, the Company made its debut on the NewConnect market. It has fully achieved the goals announced in its initial public offering and is currently preparing to move to the Main Market of the Warsaw Stock Exchange. For more information: https://scanway.pl/
Media Contact
Scanway S.A. Corporate Communications Office
Katarzyna Żądło
+48 661 140 260
k.zadlo@scanway.pl
Contact for investors and analysts
Mardoniusz Maćkowiak
+48 605 959 539
mardoniusz.mackowiak@ccgroup.pl