Polish technology company receives further funding for construction of satellite observation system

Creotech Instruments received information from the Armament Agency about the approval of the B2 result documentation as part of the implementation of the contract for the creation and delivery of the "Mikroglob" Earth Observation Satellite System.

Creotech Instruments has successfully completed the B2 phase of its contract for the production and delivery of the Microglob Earth Observing Satellite System.

On behalf of the State Treasury, the Armaments Agency provided information on the approval of the output documentation, which results in the payment of the due remuneration in the amount of approximately PLN 20.5 million.

At the end of last year, Creotech Instruments signed a contract to develop an Earth Observation Satellite System (EOSS) covering four phases in accordance with the ECSS (European Collaboration for Space Standardization) methodology.

The value of the entire contract is approximately PLN 557 million gross , the contract should be completed by the end of March 2027.

The company's main shareholders are: Industrial Development Agency (11.40%), Grzegorz Brona (10.15%), OFE Allianz Polska (9.83%).

Creotech Instruments has been listed on the NewConnect market since 2021, and a year later it transferred its shares to the main floor of the Warsaw Stock Exchange.

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