REMRED LTD.
Press release, Budapest, 14th of May 2024
REMRED Successfully Closed 25 Million Euro Investment Round with 4iG Group and begins the construction of their space MAIT Centre
- Hungary’s leading space engineering company, REMRED Ltd. has signed the Investment and Shareholders’ Agreement with 4iG Space and Technology Plc. to invest EUR 25,000,000 into REMRED for a 45% stake by way of a capital increase.
- 4iG Group and REMRED laid the foundation stone of a space MAIT centre, called REMTECH that will enable the manufacturing, assembly, integration and testing of space equipment, including satellites up to 400 kg in 2026.
Following the signing of the preliminary agreement in February, REMRED announced the successful closure of its investment round. On May 2nd, REMRED signed the investment and shareholder agreement with 4iG Space and Technology Plc., wherein they will invest 25,000,000 euros in REMRED through a capital increase for a 45% stake, solidifying their strong partnership.
With 4iG Space & Technology’s expertise in Satellite Operations, Ground Segment, Data Processing, and Communications seamlessly integrating with REMRED’s Space MAIT capabilities, the two companies are paving the way to become a one-stop-shop for satellite solutions, especially in terms of the satellite projects that their teams are already concurrently working on to utilize their joint capabilities to the fullest.
After the announcement of the investment, 4iG Group and REMRED laid the foundation stone of Hungary's first space MAIT centre in Martonvásár, Fejér county on May 6th. The facility, named REMTECH, which will be capable of manufacturing, assembling, integrating, and testing satellites weighing up to 400 kilograms, will use modular technology to manufacture, assemble, integrate and test satellites. The greenfield development will be equipped with innovative and state-of-the-art technology solutions in line with space industry standards. The 4,000 square metre manufacturing centre will include 1,500 square metres of ISO8 and ISO5 certified clean room technology and will also have vibration, shock, mechanical, thermo-vacuum, climatic, EMC/EMI and acoustic testing systems.
Designed to meet the needs of both the domestic and international markets, REMTECH will not only be an outstanding base for satellite technology and the space industry. The unique investment will also create a centre of innovation, involving international cooperation and the domestic industry, with multiple links to education and R&D activities. The Space Technology Centre will be operational in 2026 and will create 85 new high value-added jobs and will extend REMRED’s existing development and MAIT capabilities.
Speaking at the foundation stone ceremony, Márton Nagy, Minister of National Economy of Hungary, said: ‘The space sector has a bright future ahead of it, as space is one of the fastest growing and, according to international surveys, crisis-resistant industries in the world, with a value estimated to reach $1 800 billion by 2035, up from $630 billion in 2023. In addition, space, which is at the peak of technological development, has a very high multiplier effect, meaning that the innovations and technological breakthroughs that are created here can be replicated in many other economic segments.’
“With the joint investment of 4iG Group and REMRED in the Space Technology Centre and the vertical integration of our space and technology portfolio, our Group will have unique capabilities and infrastructure in Central Eastern Europe. As part of our technology and defence industrial holding, space is the area with the greatest growth potential, alongside 4iG Group's traditional businesses – IT and telecommunications", emphasised Gellért Jászai, Chairman of 4iG Group, in his speech at the ceremony. “The services and satellite manufacturing capacity of the Space Technology Centre will further strengthen the international presence of 4iG Group and develop new domestic and international partnerships. We can enter a manufacturing market that combines state-of-the-art equipment with the latest knowledge to produce world-class technologies".
In his welcoming speech, Dr István Sárhegyi, founder of REMRED and CEO of 4iG Space and Technology Plc., emphasised that thanks to the investment in Martonvásár, Hungary could become a major player in the global space market within a short period of time. He said that already in the planning phase of the space manufacturing centre the largest international companies and manufacturers have offered their cooperation, which proves that there is a huge international demand to produce low earth orbit satellites and various space equipment. “Our goal in the space industry is to build on our own engineering capabilities to develop new and unique space equipment and satellites, and to become strategic partners of the largest satellite and space companies, as well as national and international space agencies”, added Dr István Sárhegyi.
The closure of the investment round is a significant milestone for REMRED and the establishment of the new space technology manufacturing centre, REMTECH, together mark the beginning of a new era for the Hungarian space industry. These developments will enable Hungary to strengthen its position in the region and become an even more active participant in the global space industry.
Background info:
The 4iG Group
4iG Plc, a majority-owned Hungarian company based in Budapest, Hungary, is the leading telecommunications and IT group in Hungary and the Western Balkans, and one of the leading companies in the knowledge-based, digital economy. Listed on the Budapest Stock Exchange, the Group’s fresh and innovative approach and its position as Hungary’s leading IT systems integrator make it a leading business services provider in the region’s digital transformation. 4iG’s dynamic expansion strategy has made it a dominant player in the Hungarian and Western Balkan telecommunications markets. The Group is continuously expanding its services, expertise and portfolio to meet the changing needs and demands of the telecommunications and IT markets. The 4iG Group employs over 8,000 people. www.4iG.hu
REMRED
The predecessor of REMRED Ltd. was established as a subsidiary of the Energy Science Research Centre of the HUN-REN research network, which has allowed the Hungarian space industry to accumulate almost 50 years of space expertise and experience. REMRED’s team of nearly 100 employees is a partner in many major missions, working with the world’s leading space agencies such as the European Space Agency (ESA), NASA, JAXA and DLR. As an ESA partner, REMRED is also a supplier to major NASA and ESA-led space programmes such as the new manned lunar programme Artemis – Lunar Gateway Programme, the interplanetary mission Comet Interceptor and the Mars Sample Return Programme to return Martian samples to Earth. The company is also active in space weather, space radiation and the design and manufacture of specialised equipment for these activities. REMRED is recognised by the Budapest Stock Exchange as a BSE50 company and 4iG Plc has an indirect 45% stake in the company. www.remred.space
For further information, please contact Bálint Abay –
