&w=3840&q=100)
Amid growing Russian threat, Poland eyes stake in satellite firm that helped Ukraine fight back
Servicemen of the 24th Mechanized brigade, named after King Danylo, of the Ukrainian Armed Forces fire a BM-21 Grad multiple-launch rocket system toward Russian troops, on a front line, amid Russia's attack on Ukraine, near the town of Chasiv Yar in Donetsk region, Ukraine February 15, 2025. (Photo: Reuters)
Amid fears that Vladimir Putin wants to expand his aggression on Europe, Poland has planned to acquire a stake in a satellite company that has helped Ukraine in the war with Russia.
The satellite company Iceye, founded by CEO Rafał Modrzewski and his partner Pekka Laurila, has tracked Russian troop deployment. Ahead of the Russian invasion of Ukraine in February 2022, Iceye supplied Ukraine with images of Russian troop movements that helped plan the defences better.
STORY CONTINUES BELOW THIS AD
The Financial Times has reported that Poland is in the final stages to acquire a stake in Iceye. The size of the stake has not been disclosed.
In recent years, particularly after the Russian invasion of Ukraine, satellite imagery and satellite internet have emerged highly strategic assets for nations. As most of these organisations are based in the United States, and European nations are no longer assured that President Donald Trump will allow European nations to maintain access to these companies. Notably, after the spat at the White House, the Trump administration blocked Ukraine from accessing Maxar.
From Arctic shipping to Ukraine war
Iceye was founded in 2014 to provide radar imagery of moving ice blocks to Arctic shipping companies.
However, as tensions raged in Europe as Russia prepared to invade Ukraine, Iceye pivoted to providing satellite imagery related to the war in Ukraine. It has now become a provider of military applications and is one of the many firms trying to capitalise on Trump dictating US firms' dealings with European nations, such as Maxar or Starlink.
Modrzewski told the FT they set up Iceye with backing from Aalto University's Center for Entrepreneurship when they were students and now want to expand its production capacity at least fourfold to meet surging demand for its satellites. They currently manufacture up to 25 satellites and raise it to 100-150 a year.
STORY CONTINUES BELOW THIS AD
Poland will invest in the company via the country's nation's development bank and follows the defence ministry's $230 million purchase in May of six satellites.
In recent years, as European nations have found their access to US-based tech giants' blocked or disrupted by politics, they have sought to develop alternatives. At times, access to Elon Musk-owned Starlink has also been compromised because of politics. As a result, European nations have explored alternative satellite internet services providers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
11 minutes ago
- First Post
Russia launches monthly direct flights to North Korea amid growing ties
Russia has launched direct commercial flights to North Korea, signalling a further strengthening of relations between Moscow and Pyongyang. The first Moscow-Pyongyang service, operated by Nordwind Airlines, departed Sheremetyevo airport on Sunday and is expected to run once a month initially. read more People wait outside Terminal C at the Sheremetyevo international airport outside Moscow, Russia. File image/ Reuters Russia inaugurated direct commercial flights to North Korea on Sunday, signalling deeper links with its Asian ally that will aid its push in Ukraine. According to the Sheremetyevo airport's website, the first Moscow-Pyongyang flight operated by Russia's Nordwind Airlines took off at 16:25 GMT. It is slated to arrive in the North Korean capital around eight hours later. However, Russia's transport ministry stated that the route will only be serviced once a month at first. STORY CONTINUES BELOW THIS AD Tickets for Nordwind Airlines, which used to transport Russians to European vacation spots prior to the EU banning Russian flights, cost 45,000 rubles ($570). 'This is a historical event, strengthening the ties between our nations,' Oleg, a Nordwind employee managing the flight who did not want to give his full name, told AFP at the airport. More from World Ukrainian drone strikes force Kremlin to scale down Navy Day celebrations He also declined to say how many passengers were on board. 'For the first time in more than 70 years of diplomatic relations, we are launching direct flights between the capitals of our countries,' Russia's deputy transport minister Vladimir Poteshkin was quoted as saying by the ministry's Telegram account. Russia's state news agency TASS reported that the first return flight from Pyongyang to Moscow would take place on Tuesday. Russia and North Korea restored train links on June 17 after suspending them in 2020 during the Covid pandemic. The two countries have been forging closer military bonds in recent years, with Pyongyang supplying troops and weapons for Russia's military operations in Ukraine. They signed a mutual defence pact last year, when Russian President Vladimir Putin visited North Korea. North Korea confirmed for the first time in April that it had deployed a contingent of its soldiers to the frontline in Ukraine, alongside Russian troops.
&w=3840&q=100)
Business Standard
11 minutes ago
- Business Standard
Startup founders can't be Batman, Superman, Mandrake combined: Shivakumar
What's changed in the past five to 10 years is the advent of consumer technology (tech), and today, consumers are using more digital services than physical ones, says Shivakumar premium Surajeet Das Gupta New Delhi Listen to This Article His just-released book, The CEO Mindset, focuses on leadership qualities in a complex world. Shiv Shivakumar, operating partner at Boston-based $500 billion private equity (PE) major Advent International — who has straddled various companies from Hindustan Lever to Aditya Birla group — talks to Surajeet Das Gupta about management challenges and business models. Edited excerpts: What is your assessment of the impact of artificial intelligence (AI) on Corporate India? AI will take out aggregator jobs — for example, the executive who prepares the minutes of board meetings is gone. Most of these roles lie in middle and lower management, but
The Hindu
11 minutes ago
- The Hindu
Urgent need for 'global approach' on AI regulation: U.N. tech chief
The world urgently needs to find a global approach on regulating artificial intelligence, the United Nations' top tech chief said this week, warning that fragmentation could deepen risks and inequalities. Doreen Bogdan-Martin, head of the UN's International Telecommunications Union (ITU) agency, told AFP she hoped that AI "can actually benefit humanity". But as concerns mount over the risks posed by the fast-moving technology -- including fears of mass job losses, the spread of deepfakes and disinformation, and society's fabric fraying -- she insisted that regulation was key. "There's an urgency to try to get... the right framework in place," she said, stressing the need for "a global approach". Her comments came after U.S. President Donald Trump this week unveiled an aggressive, low-regulation strategy aimed at ensuring the United States stays ahead of China on AI. Among more than 90 proposals, Trump's plan calls for sweeping deregulation, with the administration promising to "remove red tape and onerous regulation" that could hinder private sector AI development. Asked if she had concerns about an approach that urges less, not more, regulation of AI technologies, Bogdan-Martin refrained from commenting, saying she was "still trying to digest" the US plan. Lack of AI policies or strategies "I think there are different approaches," she said. "We have the EU approach. We have the Chinese approach. Now we're seeing the U.S. approach. I think what's needed is for those approaches to dialogue," she said. At the same time, she highlighted that "85% of countries don't yet have AI policies or strategies". A consistent theme among those strategies that do exist is the focus on innovation, capacity building and infrastructure investments, Bogdan-Martin said. "But where I think the debate still needs to happen at a global level is trying to figure out how much regulation, how little regulation, is needed," she said. Bogdan-Martin, who grew up in New Jersey and has spent most of her more than three-decade career at the ITU, insisted the Geneva-based telecoms agency that sets standards for new technologies was well-placed to help facilitate much-needed dialogue on the issue. "The need for a global approach I think is critical," she said, cautioning that "fragmented approaches will not help serve and reach all". As countries and companies sprint to cement their dominance in the booming sector, there are concerns that precautions could be thrown to the wind -- and that those who lose the race or do not have the capacity to participate will be left behind. Huge gap The ITU chief hailed "mind-blowing" advances within artificial intelligence, with the potential to improve everything from education to agriculture to health care -- but insisted the benefits must be shared. Without a concerted effort, there is a risk that AI will end up standing for "advancing inequalities", she warned, cautioning against deepening an already dire digital divide worldwide. "We have 2.6 billion people that have no access to the internet, which means they have no access to artificial intelligence", Bogdan-Martin pointed out. "We have to tackle those divides if we're actually going to have something that is beneficial to all of humanity." Bogdan-Martin, the first woman to serve as ITU secretary-general in the organisation's nearly 160-year history, also stressed the need to get more women into the digital space. "We have a huge gap," she said. "We definitely don't have enough women... in artificial intelligence." The 58-year-old mother of four said it was "a big honour" to be the first woman in her position, to be "breaking the glass ceiling (and) paving the path for future generations". But she acknowledged there was a lot of pressure, "not just to achieve, but to almost overachieve". Bogdan-Martin, who is being backed by the Trump administration to stand for re-election when her four-year mandate ends next year, said she was eager to stay on for a second term. "There is a lot to do."
