German defence company Rheinmetall and Finnish satellite maker ICEYE have established a joint venture to manufacture synthetic aperture radar (SAR) satellites, Rheinmetall said on Friday.
The venture, called Rheinmetall ICEYE Space Solutions GmbH, is based in the western German city of Neuss, just outside Dusseldorf, with an Rheinmetall automotive supply plant is set to be converted for defence production.
Rheinmetall holds a 60% stake in the project, while ICEYE holds 40% of shares, according to the German firm.
Operations are set to begin this year, with the first satellites to be ready in 2026.
SAR satellites are able to provide high-resolution reconnaissance images for military purposes.
The technology will be provided by ICEYE, a relatively small company that employs 700 people worldwide.
The firm’s satellites are already used by Ukraine in the war against Russia, but the hope is that the cooperation with Rheinmetall, which employs some 40,000 globally, will help to boost production and sales.
Source: dpa.com
