SatRev successfully conquers the space and goes public for 15 million. Will they be the star of the NewConnect?

18.08.2023

They started from scratch, today they are at the business top, but they haven't said their last word yet. SatRev, a Wroclaw-based company in the space sector that has been making a dizzying global career, is going public on the Warsaw Stock Exchange and wants to raise 15 million PLN. They have just revealed details of their plans. You can participate in SatRev's projects, as the company is looking for employees.

In 2010. Radoslaw Lapczynski, 78, Grzegorz Zwolinski, 81, and Damian Fijalkowski, 81, came up with T-Bull S.A. and created original games and mobile applications. With what they earned – in another of their companies, Sat Revolution (now SatRev) – they financed the construction of their first proprietary nanosatellites in laboratories in the Oder Praga region: Swiatowid and two Rusalka.

Now SatRev – a Wroclaw-based space company that was the first Polish commercial entity to launch its own satellite – is planning to debut on the Warsaw Stock Exchange (WSE) in 2023. They are looking to raise 15 million PLN on NewConnect, which they plan to spend on further development.

SatRev goes public on the Warsaw Stock Exchange. In 2023. SatRev will be a NewConnect star?

SatRev has its headquarters and laboratories in Wroclaw, Poland. In July this year, the company moved from the research center of the Lukasiewicz Port Research Network in Pracze Odrzanskie to Wrocław’s Sky Tower. The company will manufacture satellites in Legnica. And that is why they are going public.

“A satellite factory is currently being built for us in the Legnica Special Economic Zone, which will enable us to produce up to 200 of our own satellites a year. To realize this potential we will need an injection of capital from investors. We have chosen the process, i.e. a new share issue and listing the company on the NewConnect, which we believe will bring us the highest probability of success.”
– Grzegorz Zwolinski, founder and CEO of SatRev.

The company has begun preparatory work for the offering, and has signed a cooperation agreement with BOŚ Brokerage House S.A.

What does SatRev do? Where are their satellites being used?

Founded in 2016, SatRev specializes in the design, manufacture and operation of nanosatellites and data analytics, and is developing a constellation of satellites for real-time Earth observation. The company has experience working with SpaceX, United Launch Alliance and Avio, among others.

SatRev has launched 11 satellites to date, and the company is currently developing more projects to launch new orbiters.

Grzegorz Zwolinski adds that the company is already executing contracts to receive images from its satellites, and they have prospects for more contracts.

“Our projects are no longer in the research phase, they are entering the commercialization phase. We are on the eve of monetizing our main service, the provision of satellite data, and we need money to deliver a fully functioning system and build more new satellites. Hence, we need financing at this stage of the company’s development as much as possible.”
– the founder and CEO of SatRev stressed in the context of entering NewConnect.

Speaking of SatRev and finances, it is worth recalling that in early April this year it was announced that Virgin Orbit (VO), owned by British billionaire Richard Branson, had filed for bankruptcy. The company had invested $5 million in the Wroclaw-based startup SatRevolution (SatRev).

SatRev’s international projects and satellite launch in 2023

The upcoming SatRev satellite launch is scheduled for the fourth quarter of 2023. It will be a satellite for the government agency of the Sultanate of Oman, which is part of the company’s expansion strategy into the Middle East and East Africa.

SatRev also carries out complete satellite design, manufacturing and launch programs for Australian government agencies.

We are growing very fast, we have already signed contracts to receive images from our satellites, among others a contract with the National Center for Agricultural Support (KOWR) for a total of PLN 42 million for 90,000 square kilometers of images from all over Poland (for agricultural purposes) and SkyWatch from Canada for a total of $13 million.
- Grzegorz Zwolinski enumerates.

The City of Wroclaw is working with SatRev on real estate and taxes. What they do.

In addition, for more than three years the company has been successfully involved in projects to support property tax inspection activities, serving clients throughout Poland, including both large cities and municipalities.

The flagship project is the city of Wroclaw, which is successfully using space technology to seal the local property tax system.

“The demand for satellite imagery is growing strongly every year. We see more and more orders coming in, so we are focusing on building competence in providing such images and winning new orders. In addition to agriculture, we see great potential in forestry, transportation, water, fisheries, border protection, city planning, telecommunications network expansion, or planning and automation in other areas. All of them will need observation systems to deliver ever better programs and services.” – says Grzegorz Zwolinski.

DeploScope – SatRev’s strategic project – what is it?

“Our strategic project is also the development of our own technology – DeploScope – high-resolution imaging, which is currently in the final testing phase. This is a revolutionary solution, allowing us to collect more accurate data, at a much lower cost than existing solutions. I hope that the IPO, thanks to the funds raised, will accelerate the realization of all our goals and the development of SatRev.”– emphasizes Grzegorz Zwolinski.

SatRevolution: work and recruitment

You can participate in SatRevolution projects because the company is looking for employees – SatRevolution: work and recruitment. SatRev currently employs about 60 people from all over the world, but they plan to increase their workforce to 400 by 2026.