Business Finland OKs $33M grant to Iceye for expanded radar satellite production and R&D into optical, RF monitoring

by Peter B. de Selding

LA PLATA, Maryland — Fast-growing radar satellite constellation builder/operator Iceye Oy received a "continuation grant" of 28.3 million euros ($33 million) from Business Finland, the public innovation agency, to boost manufacturing capability and R&D expansion into optical and radio-frequency sensors and high-altitude platforms. The decision follows an initial grant and loan package agreed to in June 2025.

Iceye, which has launched 72 satellites since 2018, said it is now producing satellites at a rate of one per week and is targeting a rate . . .

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