News

We invite you to watch the recording of Scanway S.A.’s earnings conference call from March 18, 2024—dedicated to discussing the Company’s operational and financial situation:

Scanway has published its results for the fourth quarter and the full year 2023, during which it generated total revenue of 7.0 million PLN, representing a 95% increase year-over-year. Total revenue for the fourth quarter alone amounted to PLN 2.1 million, an 81% increase compared to the same period in 2022. Scanway’s sharp revenue growth was driven by the ongoing commercialization of two business lines being developed by the company—Space and Industry. A leading company in the field of space-based observation technology and machine vision in industry continues its dynamic growth, updating its order backlog to PLN 2.9 million as of the end of December 2023. Among contracts awaiting formalization—which have already received a positive business decision and are highly likely to be executed—the Company identifies PLN 26.3 million, with the majority of this amount attributable to products for the space sector. The Company expects to be one of the beneficiaries of Poland’s increased contribution to the European Space Agency for the years 2023–2025, with the first decisions expected as early as 2024.

Creotech Instruments S.A. and Scanway S.A. —companies operating in the Polish space industry—have been working for several years as part of the EagleEye project to develop an observation satellite capable of capturing images with a resolution of approximately 1–1.5 meters from very low Earth orbit. Recently, Scanway conducted ground tests of the telescope, which, according to the company’s methodology, showed that the image resolution is in line with design specifications. Subsequent images of real-world objects, captured from a great distance, will likely be transmitted to us directly from orbit. The satellite’s launch and the start of its mission are planned for this year.

Scanway S.A., a Wrocław-based technology company operating in the field of vision solutions and supplying its products both on Earth (Scanway Industry) and in space (Scanway Space), is celebrating its eighth anniversary this year at a new headquarters that is larger and better suited to the Company’s growth. In 2023 alone, the Scanway team grew by 24 employees and now consists of 60 experts. Plans for further team expansion and the need to increase production capacity in response to growing demand for the company’s products in both business sectors necessitated a move to a new complex where office space has increased from 230 m² to 600 m², and the laboratory and workshop area grew from 98 m² to 382 m². This enables the company to undertake a greater number of projects, including small-scale mass production. Scanway leases its space at West Forum in Wrocław.

Scanway S.A., a Wrocław-based technology company operating in the field of vision solutions and supplying its products both on Earth (Scanway Industry) and in space (Scanway Space), is celebrating its eighth anniversary this year at a new headquarters that is larger and better suited to the Company’s growth. In 2023 alone, the Scanway team grew by 24 employees and now consists of 60 experts. Plans for further team expansion and the need to increase production capacity in response to growing demand for the company’s products in both business sectors necessitated a move to a new complex where office space has increased from 230 m² to 600 m², and the laboratory and workshop area grew from 98 m² to 382 m². This enables the company to undertake a greater number of projects, including small-scale mass production. Scanway leases its space at West Forum in Wrocław.

On January 30, 2024, Scanway signed a cooperation agreement with Nara Space Technology, one of South Korea’s leading companies in the fields of satellite manufacturing, remote sensing, and artificial intelligence. The goal of the collaboration is to develop a microsatellite system for Earth observation, develop optical instruments, and design observation payloads for the NarSha project—a constellation of microsatellites for methane monitoring. The launch of the first demonstration satellite is scheduled for the fourth quarter of 2026. Following the success of the demonstration satellite, the launch of at least 6–12 additional microsatellites is planned. The NarSha project has secured funding from, among others, the Korea Development Bank. Scanway was selected to carry out the NarSha project following a positive evaluation by the entire consortium: Nara Space Technology (lead), the Climate Technology Center of Seoul National University, and the Korea Astronomy and Space Science Institute.

On January 25, 2024, Scanway S.A. announced that, following the delivery of the optical telescope to its partner, Creotech Instruments, for integration with the satellite platform, the telescope had successfully passed functional tests. The goal of the EagleEye project is to develop an Earth observation satellite capable of providing imagery with a resolution of approximately 1 meter from a very low orbit at an altitude of approximately 350 km. Scanway is responsible for designing and manufacturing the optical telescope, which weighs nearly seven times as much as the telescope used in the STAR VIBE satellite—the mission that enabled the Company to establish its space heritage in January 2023. After integrating the optical payload with the satellite platform, the EagleEye satellite will weigh approximately 60 kg. The satellite will be launched into orbit in 2024 with the participation of Exolaunch, which is responsible for integrating the satellite with the Falcon 9 rocket from SpaceX, the American company owned by Elon Musk. The EagleEye project is being carried out by Scanway in a consortium with Creotech Instruments and the Space Research Center of the Polish Academy of Sciences (PAN) and is co-financed by the National Center for Research and Development (NCBiR) under the so-called “Fast Track” program.