On Tuesday, May 21, 2024, during the annual presentation of Thorium Space’s strategy and achievements, the company showcased its accomplishments to date and outlined its upcoming business and R&D plans. During the presentation, Paweł Rymaszewski, the CEO, announced that the company is maintaining its stock market plans, but the current priority is to finalize an agreement with a European commercial client for a large geostationary satellite.
Photo: Thorium Space
Last week, the annual presentation of Thorium Space’s strategy and achievements took place at the Polish Army Museum. During the presentation, the CEO of Thorium Space showcased the company’s accomplishments to date and outlined its upcoming business and R&D plans. Thorium Space has completed work on terminals that are already operational and has begun constructing its first geostationary payload. These successes have necessitated changes in the company’s structure, business model, and technical approach, including the expansion of the laboratory in Warsaw and the creation of new sales and quality departments. Crucially, the company has adopted methodologies and standards set by the European Space Agency (ESA), enabling better compatibility in conducting projects with the largest companies in the space sector.
“We are introducing a global offer for the space market, including terminals, but primarily payloads and telecommunications satellites built in collaboration with partners. We are currently finalizing negotiations with a European operator for an entire geostationary satellite in the Ku/Ka band,” stated Paweł Rymaszewski, CEO of Thorium Space.
Thorium Space dedicates its offer to the government, defense, security, and critical infrastructure sectors, considering them its primary customers. The company adheres to the Satellite as a Service model, meaning it aims to offer not just terminal devices but a comprehensive service package that includes terminals along with connectivity, i.e., bandwidth. The company has received support from the European Space Agency (ESA) and has begun constructing a larger satellite in collaboration with partners responsible for the platform.
“We have transitioned from the R&D stage to offering marketable products, which has significantly changed our structure and future plans. This has made us a global player, the second producer of such technology in Europe after France,” emphasized Rymaszewski.
Thorium Space is maintaining its stock market plans, but the current priority is to finalize an agreement with a commercial client for the construction of a large geostationary satellite.
“We are continuing at the pace we announced, but with a slight delay, as we are finalizing negotiations with a commercial client for a complete, large satellite where the entire payload will be from us. Our satellites have anti-jamming functions, interference localization, and the ability to freely direct signals and mix services, making them exceptionally functional and attractive to operators. We are very close to our goal,” added Paweł Rymaszewski.
The CEO also emphasized that the company has unique technologies, including active radar antennas and its own integrated circuits. Thorium Space is one of the few manufacturers of its own integrated circuits and will soon introduce the second generation of its silicon. Paweł Rymaszewski also presented innovative satellite solutions and strategic development directions that position Thorium Space as a technological leader in the European space market. He highlighted the exceptional collaboration with the German company OHB, currently the largest and key business partner of Thorium Space.
“With our partner OHB, we are looking broadly into the future. We share a common client with whom we are currently conducting intensive negotiations. We are pleased to have been able to meet today at our special event, which summarizes Thorium’s successes and outlines our plans, which we hope will also become successes,” explained Rymaszewski.
“Two years ago, we began our collaboration with Thorium, which continues to this day. We eagerly anticipate the development of the technology that Thorium Space is working on and strive to support this progress. I believe that what is happening now at Thorium is the right direction for further development. There is a high demand for such technologies in the market, especially with the European IRIS^2 program. European government programs also urgently need new technological solutions,” summarized Dr. Kolja auf der Heide, Director of Future Programs Telecom & Productline SmallGEO at OHB Systems AG.
The event brought together numerous experts from the Polish space and security sectors, representatives from the Ministry of National Defense, the Polish Armed Forces, the Ministry of Development and Technology, the defense industry, academia, and the media.
Press release