SatRev will build a satellite for Korea’s TelePIX. Giant contract in the space industry

08.10.2023

Wrocław-based space company SatRev has signed a contract with South Korean company TelePIX. Under the contract, the Wroclaw-based company will develop a 10-kilogram 6U satellite containing TelePIX's AI optical instrument on board. When is the satellite scheduled to be launched and what are the Breslavians doing in space?

TelePIX: who are they and what do they do?

TelePIX is Korea’s leading provider of high-resolution electro-optical imaging solutions for observing the Earth’s surface, as well as software and services for analyzing large datasets of satellite imagery and ground station operations.

SatRev will build the TelePIX satellite. Giant contract in the space industry

The contract is signed as part of the TelePiX Blue Carbon AI satellite program. SatRev and TelePiX will jointly develop a dedicated satellite based on SatRev’s ScopeSat platform and TelePiX’s medium-resolution optical instrument (GSD 3.8@500km Panchromatic), as well as the world’s first on-board processor (OBP) for use by the “blue carbon” AI monitoring algorithm.

The project involves development of the platform, integration and launch and operation of the satellite.

The agreement also includes a licensing agreement for images taken by the satellite, so the cooperation will result in seamless access to the South Korean partner’s imaging for customers in the European Union.

“The project will make use of solutions we have already developed, such as technologies created to support the revolutionary DeploScope foldable optical instrument and many other modules already used in our satellites operating in orbit. This is also an opportunity to develop new solutions, which also gives us a perspective for further cooperation with both TelePIX and other partners.”
– Grzegorz Zwolinski, founder and CEO of SatRev

If the mission is successful, further cooperation involving the development of further satellites of similar size is envisaged. In the longer term, joint development of a 16U platform to integrate an even larger optical instrument is possible.

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

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 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 42 million PLN for 90 thousand 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 cooperating with SatRev on real estate and taxes. What are they doing?

In addition, for more than three years the company has been effectively involved in projects to support control activities in the area of real estate tax, 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.

“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.