Financial Times: Poland in talks to buy stake in satellite firm aiding Ukraine

According to the Financial Times, Poland is in advanced talks to buy a stake in Iceye, a satellite company known for tracking Russian troop movements during the Ukraine conflict.

Poland is negotiating to buy a stake in Iceye, the satellite company that helped track Russian troop movements during the Ukraine conflict, as reported by the Financial Times.

Photo: Screenshot of Financial Times website/ © Financial Times

Iceye’s CEO, Rafał Modrzewski, confirmed the negotiations but did not reveal how much Poland plans to invest.

The company has already raised $550 million from other investors. Founded in 2014 by Modrzewski and Finnish partner Pekka Laurila, Iceye originally focused on radar imaging for Arctic shipping.

Task ICEYE SAR satellites and collect intel over your areas of interest.

Build situational awareness to inform future access. Learn more at https://t.co/EBUzd4gd2i. pic.twitter.com/cBycR44ByU

— ICEYE (@iceye_global) July 18, 2025

Since Russia’s full-scale invasion of Ukraine in 2022, it has shifted toward military applications. The company’s valuation has surged well above $1 billion.

Modrzewski said Iceye plans to at least quadruple its production to meet growing demand, as European defense spending rises amid geopolitical tensions. More details on this story were covered by the Financial Times on Monday. 

Poland in talks for stake in satellite company that helped Ukraine resist Russia https://t.co/RuJKlGGwdk

— FT Europe (@ftbrussels) July 21, 2025

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Source: Financial Times/@ftbrussels/@iceye_global