Azernews.Az

By Alimat Aliyeva

Poland is in the final stages of negotiations to acquire a stake in ICEYE, a Finnish aerospace company known for providing satellite imagery to the Armed Forces of Ukraine, according to The Financial Times, citing company CEO Rafał Modrzewski, Azernews reports.

“Warsaw is close to finalizing a deal to become a shareholder in ICEYE,” Modrzewski said, though he declined to disclose the size of the proposed investment. He did confirm, however, that the funding would add to the $550 million already raised by the company from private and institutional investors.

The potential investment highlights Poland’s increasing interest in space-based intelligence and surveillance capabilities — a critical asset in the modern battlefield, particularly in light of the war in Ukraine.

ICEYE specializes in synthetic aperture radar (SAR) satellites, which can capture high-resolution images of the Earth’s surface regardless of weather or lighting conditions — a key advantage in military and disaster response operations. The company has earned global attention for its contributions to Ukrainian battlefield awareness, providing near real-time imagery to support tactical and strategic decision-making.

Poland’s investment will be funneled through the country’s National Development Bank, as part of a broader strategy to develop its space and defense industries. In May, the Polish Ministry of Defense signed a $230 million deal to acquire six ICEYE satellites, strengthening its own reconnaissance capabilities.

According to Modrzewski, ICEYE plans to scale its manufacturing capacity by at least four times over the next few years, driven by surging demand for its compact, high-performance satellites from both defense and commercial clients.

Analysts say Poland’s growing involvement with ICEYE not only supports Ukraine but also signals Warsaw’s intent to become a regional leader in space-based surveillance and defense technology. With geopolitical tensions in Eastern Europe unlikely to ease anytime soon, satellite intelligence has become a vital strategic asset.

Beyond defense, ICEYE’s satellites are also used for environmental monitoring, disaster response, and infrastructure tracking — meaning Poland’s stake could offer both military and civilian benefits in the long term.

“This is about more than just investment,” one European defense expert noted. “It’s about positioning Poland at the forefront of a space-based intelligence future — one that’s unfolding much faster than anyone expected.”