PIAP Space issues new shares with the value of approx. PLN 6 million (approx. EUR 1.5 million). Shares worth PLN 3 million will be subscribed for by the financial investor – the Industrial Development Agency, while the remaining part will be taken up by the industry 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.

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. The investment allows to increase the scale of the company’s operations and maintain the current high growth rate.It 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 improves the efficiency of work in the company and allow to apply for new – more sophisticated – market contracts.

Contact person: Patryk Koć, patryk.koc@piap-space.com, tel. 501 522 301.