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Press release
ICEYE Granted 2.4M Euros from European Union's Horizon 2020 SME Instrument
SAR microsatellite developer announces grant from SME Instrument to start development of Arctic ice surveillance.
Helsinki, FINLAND – September 1, 2015 – ICEYE, the Finnish forerunner in miniaturized SAR technology, today announced receiving a 2.4M EUR grant from SME Instrument of European Union's Horizon 2020 programme, starting on September 1st 2015. The objective for ICEYE is to use the grant to integrate, pilot test and demonstrate the ICEYE SAR system in its final form as a microsatellite in order to attract private investment for launching.
“We're very excited to work with the SME Instrument on this program,” said Pekka Laurila, CFO and co-founder, ICEYE. “The Horizon 2020 program and the SME Instrument are excellent examples of the European Union supporting the development of new technologies with top talent.”
The SME Instrument is a public funding programme that funds risk innovation in small businesses. It funds market-creating innovation in disruptive small businesses that have significant growth potential and global ambitions. The SME Instrument is part of Horizon 2020 – the EU's 80 billion € funding programme for Research and Innovation for 2014-2020.
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About ICEYE
ICEYE aims to provide democratized access to reliable Earth observation data through developing efficient SAR sensors and microsatellites, enabling everyone to make better decisions. Through an imaging service available anywhere around the globe, anytime, and with response times measured in just few hours, ICEYE helps clients resolve challenges in segments such as maritime industry and disaster management. ICEYE has received funding from the European Union’s Horizon 2020 research and innovation programme via the SME Instrument. For more information, please visit: www.iceye.com
About SME Instrument
The SME Instrument is a public funding programme that funds risk innovation in small businesses. It funds market-creating innovation in disruptive small businesses that have significant growth potential and global ambitions. The SME Instrument is part of Horizon 2020 – the EU's 80 billion € funding programme for Research and Innovation for 2014-2020. For additional information, please visit: https://ec.europa.eu/easme/en/sme-instrument
About ICEYE
ICEYE delivers unmatched persistent monitoring capabilities for any location on earth. Owning the world’s largest synthetic-aperture radar constellation, the company enables objective, data-driven decisions for its customers in sectors such as insurance, natural catastrophe response and recovery, security, maritime monitoring and finance. ICEYE’s data can be collected day or night, and even through cloud cover. For more information, please visit www.iceye.com
Media contact
press@iceye.com