PIAP Space Sp. z o.o., a company from Torun (Poland) founded in 2016, specializing in providing equipment for the space industry, will issue new shares with a value of ca. 6 million PLN (ca. 1,5 million EUR). Part of the shares worth 3 million PLN will be taken up by the financial investor – The Industrial Development Agency S.A., the remaining part of the shares will be taken up by the branch investor ŁUKASIEWICZ Research Network – Industrial Research Institute for Automation and Measurements PIAP.
The business core of PIAP Space activity is to sale products in the field of space robotics and to provide services in the field of designing and manufacturing of technological equipment for ground integration and satellite testing. The company implements a number of contracts for the European Space Agency, the European Commission, as well as major companies in the space sector in Europe, such as Airbus, Thales Alenia Space or OHB.
Space robotics is a market segment, that is associated with servicing and deorbiting damaged satellites. The value of this market over the next six years is estimated at over 3,5 billion USD. PIAP Space’s ambition is to deliver robotic devices such as grippers, that are essential in service missions.
In the segment of manufacturing technological equipment for ground integration and tests (so-called MGSE) the company offers devices such as test adapters and mechanical platforms for testing in vacuum chambers. These are devices used in the satellite production processes.
The capitalization of the company after the investment will amount to approx. 7 million PLN (ca. 1,75 million EUR). The majority shareholder will be ŁUKASIEWICZ Research Network – Industrial Research Institute for Automation and Measurements PIAP, specializing in providing robotic solutions for industry and defence applications. With the Industrial Development Agency S.A. both investors will allow company to use their operational capabilities to further accelerate the growth of PIAP Space.
Acquiring a long-term financial investor is an important step in the company development. It will allow to make the necessary investments in infrastructure and increase the competitiveness of PIAP Space on the European space market – said Patryk Koć, vice president of PIAP Space Sp. z o.o.
The investment will allow to increase the scale of the company’s operations and maintain the current high growth rate.
It will be used both to purchase testing gear necessary to produce equipment for space missions as well as to expand the PIAP Space’s IT infrastructure. These investments will improve the efficiency of work in the company and allow to apply for new – more sophisticated – market contracts.
Contact person: Patryk Koć, firstname.lastname@example.org, tel. 501 522 301.