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In the first half of 2025, Scanway focused on launching the commercialization of the Hydra vision system. This technology is already being implemented at select Polish food processing plants, but its use is ultimately intended to be expanded to neighboring European markets. The experience gained in the industrial sector is also set to be applied in the New Space sector—it is already known that Hydra will be a key software component of the European lunar image processing system as part of the Intuitive Machines space mission planned for 2026.

A Polish telescope will be launched into lunar orbit in 2026 under the slogan “WIG20 to the Moon.” Scanway S.A. will be the first Polish company to supply an optical instrument for a commercial lunar mission and, moreover, will develop a European system for processing lunar images. Scanway’s lunar mission also serves as a catalyst for broader discussions about the role of Polish technology companies—including deep tech firms—on the Warsaw Stock Exchange. Together with the daily newspaper “Rzeczpospolita,” Scanway is launching a debate on the ecosystem of innovative technology companies that could become the new growth leaders on the Warsaw Stock Exchange.

Scanway – Poland’s leading provider of optical space observation technology – has been selected by the European Space Agency (ESA) to process images of the Moon’s surface as part of a joint mission with US-based Intuitive Machines, planned for 2026. Building on the cooperation with its US partner that began in December 2024, Scanway has signed a contract with the ESA to develop a satellite data processing system for future exploration of the Moon. The solution being developed by the Company will be the first commercial system of its kind in Europe, providing European countries with access to key imagery of the Moon’s surface. The contract is worth EUR 500,000 and will run until 2027.

In light of the Company’s rapid growth and the market’s increasing interest in its products, Scanway’s Management Board has initiated a process to raise additional funding. The Scanway share offering attracted considerable interest from investors – demand significantly exceeded the size of the offering, and the price per share was set at PLN 75.00 through an accelerated book-building (ABB) process. The offer comprised 176,500 shares, including 155,000 shares from which the proceeds will go to the Company and 21,500 shares from which the proceeds constitute the principal shareholder’s own funds. As a result, the total value of the offer amounted to PLN 13.2 million, and the Company will raise PLN 11.6 million gross to accelerate its further development, including a significant increase in production capacity, particularly in the area of telescopes with an optical diameter greater than 200 mm, including, amongst other things, the expansion of the AIT (Assembly, Integration and Testing) infrastructure and the strengthening of the Space team.

Scanway – Poland’s leader in optical space observation technology – has signed a contract with a leading South Asian space industry company to supply a series of high-resolution Earth observation telescopes for the partner’s satellite constellation currently under construction. The contract is valued at 9.0 million EUR (approx. 38.4 million PLN according to the National Bank of Poland exchange rate as of June 20), and the project is scheduled to be completed by 2027. The first telescope will be delivered to the partner in 2026. The contract will have a significant impact on the growth of the backlog (order portfolio), accelerate the Company’s development, and strengthen its position among leading European suppliers of optical technologies.

Scanway published its results for the first quarter of 2025, during which it generated total revenue of 3.18 mln zł, up 97% year-over-year. The main factors contributing to this result were the delivery of two optical instruments to customers and ongoing contract awards in the Space and Industry sectors. An event with a significant impact on the Company’s future results is Scanway’s inclusion among the eight recommended subcontractors for the Camila project, which was awarded by the European Space Agency (ESA) to Creotech Instruments as the project leader. The value of the contract signed on April 10, 2025, is EUR 51.9 million, with EUR 26.3 million allocated to the eight subcontractors, including Scanway. Scanway is currently in talks to conclude an implementation agreement governing the detailed terms of cooperation and financial settlements. The Company’s backlog as of March 31, 2025, amounted to PLN 16.9 million and did not include the expected funds from its participation in the Camila project. The schedule of upcoming milestones for the projects currently underway, together with cash on hand as of March 31, 2025, the high level of the backlog, and the prospects for the Camila project, ensure Scanway’s continued growth.

A report by the World Economic Forum (WEF), prepared in collaboration with McKinsey & Company, highlights the growing importance of space technology and satellite data in the global economy, projecting that the value of the space economy could grow from $630 billion in 2023 to $1.8 trillion by 2035. One of the fastest-growing sectors is Earth observation.

Scanway, a Polish leader in space-based observation technology, has been included among the recommended subcontractors in the tender selected by the European Space Agency (ESA) to carry out the Camila (Country Awareness Mission In Land Analysis)—the largest civilian satellite constellation in the history of the Polish space sector. The project leader is Creotech Instruments, which on April 10 of this year signed a contract with the ESA worth 51,925,511 EUR, of which EUR 26,330,560 will be allocated to work planned to be carried out by eight subcontractors, including Scanway. The project is scheduled for completion in December 2027. This bilateral project between the Ministry of Development and Technology and ESA is funded by Poland’s contribution to ESA for the years 2023–2025, which was increased in August 2023 by an additional 360 mln EUR.

Scanway has published its results for the fourth quarter of 2024, as well as cumulative results for the 12 months of 2024. Over the four quarters of 2024, the company generated its highest-ever total revenue of 12.5 mln zł, up 78% year-over-year. Total revenue for the fourth quarter alone amounted to PLN 4.1 million, an increase of 91% compared to the same period in 2023. Scanway’s backlog (order portfolio) as of December 31, 2024, stood at PLN 17.1 million, nearly five times higher than the PLN 2.9 million reported as of December 31, 2023. Contracts executed in 2024 in the space segment, as well as new agreements and partnerships entered into, contributed significantly to the Company’s all-time high revenue and substantial backlog. Over the past year, the Company established a total of nine new collaborations that directly support its strategic growth priorities.