German defence company Rheinmetall and Finnish microsatellite manufacturer and operator ICEYE have formally launched their joint venture (JV), Rheinmetall ICEYE Space Solutions.
The agreement in this connection was signed by Rheinmetall CEO Armin Papperger and ICEYE CEO and co-founder Rafał Modrzewski in Berlin, Germany.
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Based in Neuss, Germany, the new JV company is structured with Rheinmetall as the majority shareholder, holding 60% of the shares, while ICEYE retains a 40% stake.
This announcement comes five months after both parties signed a memorandum of understanding (MoU) to pursue a joint initiative aimed at producing satellites and related technologies.
At the time of signing the MoU, Rafal Modrzewski said: “ICEYE aims to be the primary provider of critical infrastructure for intelligence, surveillance, and reconnaissance (ISR) to allied nations.
“This joint venture further strengthens our focus on developing space-based technology for the needs of global defence markets and securing sovereign defence capabilities for Europe.”
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By GlobalDataRheinmetall ICEYE Space Solutions is scheduled to start operations this year and plans to manufacture its first locally produced satellite in 2026.
The creation of this JV occurs amid rising global demand for space-based reconnaissance from armed forces and security organisations.
Ukraine defence is already said to have benefited from the collaboration between Rheinmetall and ICEYE, receiving reconnaissance images from synthetic aperture radar (SAR) satellites.
SAR satellites can produce high-resolution images regardless of weather conditions or time of day, offering advantages over traditional optical methods.
According to information provided on ICEYE’s website, more than 54 satellites have been launched since 2018. There are plans for more than 20 new satellites to be launched annually starting from this year.
Recently, Rheinmetall moved sections of its plant in the Lower-Rhine region from the civilian Power Systems division to its military business unit.
The establishment of Rheinmetall ICEYE Space Solutions provides employees at the Neuss site with new professional opportunities.
Armin Papperger, during the signing of the MoU, had said: “Our highly qualified colleagues at the Neuss site are being given a promising new perspective for the future. We are delighted to expand our cooperation with our proven partner ICEYE.”
