Author: Scanway
Publication date:
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’s 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.
- The telescopes supplied by Scanway will represent the largest class of solutions the Company has developed to date and will be based on components developed as part of other, similar projects
- The Company expects to receive approximately 25% of the contract value in 2025, approximately 50% of the value in 2026, and approximately 25% of the value in 2027; the contract includes an advance payment exceeding half of Scanway’s total revenue in 2024
- The contract is the largest agreement in the Company’s history for the supply of space equipment—both in terms of volume and total value
- The new partner is a leading South Asian space industry company specializing in satellite constellations for hyperspectral imaging and satellite data processing
– We have just signed a contract with a partner that is a model for us—a constellation company that is growing by leveraging the highest imaging resolutions, advanced optics, and collaboration with the Western ecosystem. Its offices are located in India and the United States—markets where we already have experience and are becoming increasingly interested in. This agreement will significantly accelerate our growth and substantially increase our backlog—in terms of both volume and total value, exceeding 38 mln PLN, it is the largest contract in Scanway’s history, and the advance payment alone will exceed half of the Company’s total revenue generated in 2024 “—comments Jędrzej Kowalewski, President of the Management Board of Scanway S.A. “We will deliver telescopes that will rank among the largest solutions the Company has developed to date, and this is a direct, consistent implementation of the company’s strategic development direction,” he adds.
The agreement signed today covers the delivery by Scanway of a series of high-resolution telescopes for the partner’s satellite constellation currently under construction. Detailed information regarding the number of optical instruments to be delivered, their specifications, the customer’s name, and the development plans for the entire constellation is subject to trade secrecy and constitutes confidential information. The contract is valued at 9.0 million EUR, and the contract period will last until 2027.
– Under the terms of the agreement, we will supply our partner with a series of high-resolution optical instruments, and our first optical instrument will be delivered as early as 2026. It is worth noting that these telescopes will be among the largest solutions the Company has developed to date and will be based on components developed as part of other, technologically similar projects undertaken by the Company. Handling a larger and faster-paced project than CAMILA—since this is the scale of the contract we’re discussing—presents a natural challenge, but we are confident that we will meet it at the highest level, thereby paving the way for further cooperation with our new partner in the future. We concluded the agreement within approximately three months, which demonstrates the pace at which the space sector can develop when two companies representing the New Space movement come together. “—says Mikołaj Podgórski, COO and co-founder of Scanway S.A.”
– We are seeing more and more sales opportunities in the Asian market, which views companies from our part of the world as reliable and proven suppliers of high-quality space equipment. We are demonstrating this ourselves, among other things, through a contract with Nara Space in South Korea that has been extended several times—and we haven’t said our last word yet. As early as last year, we pointed out that the new U.S. presidency presented more opportunities than threats for Europe, and we stand by those assessments. Global supply chains will gradually seek to become independent of the U.S., which could benefit Europe and rapidly growing New Space companies such as Scanway— adds Michał Zięba, CTO of Scanway S.A.
Scanway has been actively supporting the development of the space economy for years, and the company’s products have been included on board the two most important Polish and European space missions of 2024. Scanway supplied the largest telescope in the history of the Polish space industry to the EagleEye satellite, as well as a camera system for the maiden flight of Europe’s newest launch vehicle, Ariane 6. In addition, the company is carrying out constellation projects with global clients, including Nara Space from South Korea, valued at 2.7 mln EUR, and Marble Imaging from Germany, valued at 3.2 mln EUR. Both projects have the potential for further expansion in the future, as evidenced by an additional order from Nara Space for optical instruments for the next satellite in its planned constellation.
About Scanway:
Scanway S.A. is a Polish company that has been in business for 9 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 over 40 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.
The company has completed over 40 quality control implementations in the industrial sector. As a technology partner for 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/ and https://scanway.space/
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