COFIDES AND THE BASQUE FINANCE INSTITUTE (IVF) SUPPORT SATLANTIS IN ITS COMMITMENT TO THERMAL INFRARED TECHNOLOGY FOR EARTH OBSERVATION SATELLITES

[Press Release] Madrid, Bilbao, 15 October 2025 251015 Nota de Prensa SATLANTIS Infrarrojo Térmico (ES)

SATLANTIS has received financial backing from COFIDES and the Basque Finance Institute (IVF), through a €1,384,000 loan to accelerate the development and launch of a cutting-edge very high-resolution deployable infrared camera for Earth Observation satellites.

The total investment for the project amounts to €7.9 million. For this operation, COFIDES has provided a loan of €692,000 from the Small and Medium-sized Enterprise Investment Fund (FONPYME). The IVF has matched this loan with €692,000 from the SME and MIDCAP financing line, thus promoting the international projection of a Basque technology group with a global presence in Earth observation.

With four satellites in orbit, the SATLANTIS Group has a team of 200 people, mostly engineers. The company has an international presence through subsidiaries in the United Kingdom, the United States, and France, as well as strategic partnerships in other countries. This funding strengthens SATLANTIS’s commitment to advancing infrared thermal technology, a field in which the company collaborates with its British subsidiary, SuperSharp.

SuperSharp was founded as a spin-off from the University of Cambridge in 2017 and has been part of the SATLANTIS Group since 2023. Specializing in electro-optical technologies in thermal infrared (TIR), it works alongside SATLANTIS on a new deployable TIR camera designed to detect the thermal footprint of objects from space. Its applications are diverse, from agriculture, where it can detect heat stress in crops or forest fires, to energy efficiency, by identifying urban heat islands, among others.

COFIDES’ Corporate Investment Director, Miguel Ángel Ladero, stated that “it is highly satisfying to support this pioneering project, which combines technological innovation with a positive impact on key sectors. COFIDES’ commitment to innovative and technological companies is clear and stems from the conviction that such initiatives are essential to tackle global challenges such as climate change, food security, and the energy transition. We are confident that this project will play a key role in promoting more sustainable and efficient solutions.”

Meanwhile, IVF General Director, Amaia del Villar, emphasized the importance of transformative projects for the Basque economy, such as the one launched by the SATLANTIS Group, hence the support received from the Basque Government, which falls within the objectives of Euskadi Eraldatuz 2030. “A Transformational Investment Plan aimed at accelerating the growth of the Basque business ecosystem, fostering the creation of a new technology-based industry, strengthening the local roots of leading companies, increasing their scale, promoting entrepreneurship and the attraction and retention of talent, as well as reinforcing their internationalization, among other goals”, she highlighted.

SATLANTIS’ CEO, Juan Tomás Hernani, noted that “12 years after being founded in the United States, and 11 years after moving its headquarters to Bilbao, SATLANTIS is taking a new step forward with SuperSharp in the United Kingdom, linking its activities in a closer way. The rapid connection of technologies across several parts of the world is allowing us to develop, in record time, a disruptive range of infrared cameras – both in design and performance.”

He added that “the COFIDES and IVF credit is key to achieving the goal of launching, in less than 18 months, the highest thermal resolution camera in the medium-satellite market. At the same time, SATLANTIS is developing in Bilbao other thermal and cryogenic versions that share the same technology and offer slightly smaller sizes.”

About COFIDES

COFIDES is a state-owned company that manages public financial funds, as well as its own resources and those of third-party institutions, with various objectives: promoting the internationalisation of the Spanish economy, attracting foreign investment into strategic sectors in Spain, fostering the impact economy domestically, and contributing to the development of the countries in which it invests. In addition to the Spanish State, which holds a majority stake, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF–Development Bank of Latin America.

About IVF

The Basque Finance Institute (IVF) is a public entity governed by private law under the Basque Government, responsible for implementing financial policy within the business ecosystem and providing financial support for economic and social development initiatives. Through a wide range of programmes and instruments, it offers Basque companies tailored financial solutions according to their size, stage of development, or sector, supporting projects in growth, internationalisation, transformation, and entrepreneurship, among others. It is also responsible for coordinating and maintaining a centralised overview of all public financial initiatives.