Creotech Instruments to spin off quantum division into separate public company

Creotech Instruments SA, the largest Polish manufacturer of satellites, systems and satellite components listed on the Warsaw Stock Exchange, intends to split into two independent companies. On April 16, 2025, the Company’s Management Board decided to begin work on the separation of the quantum segment into a new entity, headed by Dr. Anna Kamińska, currently the director of the quantum systems division at Creotech Instruments. The planned division is to enable faster commercialization of quantum solutions and open up opportunities for obtaining external financing for further development of the technology – including through subsidies for SMEs, which may cease to be available to the Company in the near future due to its dynamic growth. The Management Board intends that the separation process be finalized at the turn of 2025 and 2026.

“The dynamic development of Creotech Instruments and the acquisition of two strategic space projects with a total value of PLN 675 million net – Mikroglob and Camilla – have led us to the point where the decision to formally separate our two key segments is materializing. The reasons behind this decision are catalysts for further business development. We want Creotech Instruments to focus on satellite systems, where we already have a solid backlog and the development trajectory achieved is extremely promising. At the same time, a new company will be established, which will focus on the development and commercialization of quantum systems previously developed in Creotech. Separating the quantum segment into a separate company will allow for better exposure of the potential of this area and will make it easier for our shareholders to extract its value, while simultaneously taking advantage of the business opportunity to realize the enormous potential of quantum systems. The implementation of such a division can bring benefits on many levels: from organizational aspects, in which each company will be able to focus on a specific type of activity, through the accumulation of team competences and building intellectual capital, to financial issues, e.g. the possibility of maintaining the SME status by both companies, which will allow access to more attractive forms of financing. Currently, as part of the quantum segment, the company is implementing large development programs, the completion of which is planned for 2026-2027. Thanks to the division, it will be possible to accelerate the development of this area of ​​activity and increase the chances of obtaining external financing. In the opinion of the Management Board, the quantum segment has the ability to conduct business independently, with full organizational and financial separation” – says Dr. Grzegorz Brona, President of the Management Board of Creotech Instruments SA

As a result of the planned division, the quantum segment will be separated into a new joint-stock company, which includes the design and integration of advanced systems in the area of ​​quantum technologies and the commercialization of derivative technologies in the field of: quantum key distribution (QKD) systems, control systems for quantum processors, ultra-precise time synchronization systems (White Rabbit) and cameras.

“By separating the quantum business, we are creating a very strong competency-wise and homogeneous business entity that will stand out in this area on the map of technology companies in Europe. An important element is that the newly created entity will have established know-how, developed business competencies and an existing customer base in quantum areas, and will also be able to apply for funds from grants and programs financing development research for SMEs. In addition to obtaining additional external financing, it will also have easier access to investors, including industry investors, interested in its activities. This opens up wide possibilities in the search for new research and development projects and their faster commercialization” – comments Dr. Anna Kamińska, Director of the Quantum Systems Division at Creotech Instruments SA

Within the quantum segment, Creotech Instruments is currently conducting key technology projects, including:

Product lines implemented within the quantum segment are developing dynamically and are recording growing market interest. A very good example is the project implemented in cooperation with Orange for the delivery of technology for synchronizing time (“White Rabbit”) from atomic clocks with sub-nanosecond accuracy. The implementation of this contract is a promising reference opening the door to further contracts.

In the short term (up to 2 years), the Company assumes an increase in potential revenues from the implementation of quantum key distribution systems and industrial time synchronization solutions. In the perspective of 4 years, as the quantum computer market matures and QKD systems are launched by the space segment, the company plans to expand its strategic range of products. The goal is for the newly established Company to achieve the position of market leader in the EU.

Quantum company on the Warsaw Stock Exchange

As part of the planned division, Creotech Instruments shareholders will be allocated shares in the new quantum company in proportion to the shares they hold. The allocation of shares will take place through a public offering of shares and will require the preparation of a prospectus by the separated entity and its approval by the Polish Financial Supervision Authority (KNF).

“We are only at the beginning of the process aimed at dividing and introducing the shares of the new company to trading on the Warsaw Stock Exchange. Assuming that the prospectus procedure before the Polish Financial Supervision Authority and obtaining all corporate consents will proceed without delays, and the division proposal will receive the consent of the General Meeting of Creotech Instruments, our intention is for the division to be finalized at the turn of 2025 and 2026. Of course, we will inform you about all important stages in the implementation of this plan on an ongoing basis, so I encourage you to follow current reports closely” – adds  Dr. Grzegorz Brona, President of the Management Board of Creotech Instruments SA