Latest news with #PekkaLaurila
Time of India
12 hours ago
- Business
- Time of India
Finland backs space tech ICEYE firm with R&D funding
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Finland's business promotion agency has granted research and development funding to satellite and defence technology company ICEYE , the two entities said on Thursday, in what marks another step in European efforts to support the booming owned ICEYE has grown rapidly in recent years and says its fleet of 48 Synthetic Aperture Radar satellites providing near real-time imaging is now the largest, counting Ukraine, NATO and Japan among its agency, Business Finland , said it has assigned 41.1 million euros ($47.2 million) to the Finland-based company's 250-million-euro ($287 million) investment programme to strengthen its position as a global pioneer in space and defence technology."It will strengthen the entire space and defence sector and have a wide-ranging positive impact across the whole ecosystem," head of Business Finland Lassi Noponen said in a the Ukraine war raging next to its borders and global security threats on the rise, the European Union has embarked on a 800 billion euro programme to shore up its defence, with tech startups expected to play a significant satellite constellation works by bouncing a radar beam off the surface of the Earth from approximately 550 km (342 miles) in space to build a detailed picture of the ground, regardless of weather conditions or daylight, the company said."We have clearly ended up being in the right place at the right time with this technology. There is a great need to develop such sovereign capability," ICEYE chief of strategy Pekka Laurila addition to data, ICEYE also sells radar imaging satellites, as many countries are increasingly keen on having their own capacity to be able to monitor around the clock what happens on the CEO Rafal Modrzewski said the increased interest in space was driven both by technological advances and the Ukraine war that highlighted the importance of satellite technologies."This technology will be critical for national security," he told Reuters in a recent 250 million-euro investment programme will allow it to expand its satellite manufacturing capabilities, develop new sensors and upgrade its satellite platforms, the company said.
Reuters
28-03-2025
- Business
- Reuters
Finnish satellite operator ICEYE to provide data to NATO headquarters
HELSINKI, March 28 (Reuters) - Finland-based satellite operator ICEYE is to start providing imaging data to the Situation Centre at NATO headquarters in Brussels, the company said on Friday. Privately owned ICEYE has grown rapidly in recent years and currently has a fleet of 48 Synthetic Aperture Radar satellites in orbit to observe the Earth, providing near real-time imaging. Its clients include Ukraine and other militaries. here. Its satellite constellation works by bouncing a radar beam off the surface of the Earth from approximately 550 kilometres in space to build a picture of what is happening on the ground from the pulses, regardless of weather conditions or daylight, the company said. ICEYE's announcement on NATO cooperation comes at a time when Europe is scrambling to boost its autonomy in space-based monitoring and communications, with the European Commission pushing forward delayed plans for a 10.6 billion euro ($11.13 billion) secure European satellite constellation. Officials say rapid expansion of Elon Musk's Starlink satellite constellation spurred efforts to shore up Europe's so-called "digital sovereignty". While ICEYE's satellites provide Earth observation, Starlink satellites deliver global internet coverage and enable communications. "We are proud of the opportunity to cooperate and support NATO users and decision-makers with data from the world's largest SAR satellite constellation, owned and operated by ICEYE," ICEYE's Chief Strategy Officer and Co-Founder Pekka Laurila said in a statement. "What the world has learned by observing the conflict in Ukraine is that future security of nations will be massively dependent on satellite constellations," ICEYE CEO Rafal Modrzewski told Reuters earlier.
