The public offering of shares in Liftero, a Polish manufacturer of propulsion technologies for space missions, has attracted strong investor interest. The issue price has been set at PLN 35.00 per share. The company is offering a total of 500,000 new ordinary bearer series C shares, which values the offering at PLN 17.5 million.
Liftero plans to make its stock market debut by the end of the second quarter of 2026. Once listed, it will become the only representative of the space sector quoted on the NewConnect market.
“The high level of interest in Liftero’s offering confirms, in our view, the attractiveness of our business model and the technology we have developed. During the roadshow, we received a great deal of positive feedback, including from a broad group of institutional investors. This is encouraging and motivates us to continue working hard on the further development of our business and our proprietary BOOSTER system. We believe we are offering investors a unique opportunity to gain exposure not only to the space sector, but also to the attractive and dynamically growing segment of space propulsion — a component essential for almost all satellites currently being built around the world,” said Tomasz Palacz, CEO of Liftero.
Liftero develops propulsion systems for small and medium-sized satellites
Liftero’s business model is based on its proprietary BOOSTER propulsion system, which uses chemical, non-toxic propellants and is designed for satellites weighing between 30 and 500 kg. The solution is distinguished by its modular architecture, allowing the configuration — including total impulse and the number of engines — to be adapted to the specific requirements of a given mission.
The BOOSTER system has already been tested in space as part of the RED5 mission and has been operating in orbit since 2025, giving the company important flight heritage, a key factor in the space industry. By optimising components and developing key competencies in-house, Liftero is shortening contract execution times and is able to deliver systems faster than the market standard, responding to growing global demand for propulsion systems for space missions.
“Our strategy is to build a strong and lasting market position by rapidly increasing the number of Liftero engines operating in orbit. That is why one of the important objectives of the share issue is the development of further variants of the BOOSTER system. It will soon be used in an in-orbit servicing mission, including satellite proximity operations, docking and refuelling in orbit. We are also adapting it to other market niches, including deorbiting capsules and deep-space missions. We see growing market demand for this type of product,” said Przemysław Drożdż, COO of Liftero.
Backlog reaches EUR 725,000
Liftero’s backlog, covering signed contracts, currently stands at EUR 725,000. It includes, among other items, the final payment tranches under two projects carried out for the European Space Agency.
The backlog also includes a contract signed in the first quarter of 2026 with Indian company OrbitAID for the delivery of two BOOSTER systems equipped with more than 10 engines in total. This is the largest order in Liftero’s history to date. Its execution is expected to generate higher revenue this year than the company recorded in the whole of 2025, when it reported PLN 1.7 million in net revenue from product sales.
The company plans to increase production capacity to around 30 BOOSTER systems per year, equivalent to approximately 80 engines, and aims to reach this level by the end of 2027. Liftero is seeing growing interest in its product from potential customers and plans to improve its quotation process in the coming months, including by strengthening its team and hiring additional specialists.
“At the end of March this year, our pipeline of offers submitted to potential customers amounted to around EUR 115 million, which represents a threefold increase over the past six months. Due to the rapid pace of business development, we need more production engineers, mechanics, programmers, electronics specialists, as well as sales and marketing professionals. Our plan by the end of this year is to increase employment from around 20 to around 40 people. We are preparing our team to handle a growing number of orders and for the planned debut on the NewConnect market in the coming weeks,” added Tomasz Palacz.
Market demand for satellite propulsion is growing
The rising interest in the BOOSTER system reflects broader market trends. According to the company’s estimates, based on the “Satellites to be Built and Launched” report by Novaspace, the addressable number of satellites for its propulsion systems in 2026–2030 will increase fivefold to around 17,500 units.
At the same time, according to Goldman Sachs Research, the number of new satellite launches during this period could reach as many as 70,000 units, including megaconstellations.
In the ongoing public offering process, Liftero is supported by cc group as Financial Adviser and NewConnect Authorised Adviser, CK Legal as Legal Adviser, and Trigon Dom Maklerski S.A. as Lead Manager and Bookrunner.
Offering timetable
| Date in 2026 | Event |
|---|---|
| 4 May | Publication of the Memorandum and launch of the Offering |
| 4–7 May | Roadshow |
| 5–7 May, until 3:00 p.m. on 7 May | Bookbuilding among entities from the Invitation Tranche |
| 7 May | Determination and publication of the issue price of the Offered Shares and the final number of Offered Shares in individual tranches |
| 8–14 May | Subscription for Offered Shares in the Invitation Tranche |
| 8–13 May, until 11:59 p.m. on 13 May | Subscription for Offered Shares in the Open Tranche |
| 15 May | Subscription by Substitute Investors |
| By 19 May | Allotment of Offered Shares |
| Around 4–6 weeks after allotment | Registration by the National Court Register of the increase in the company’s share capital in connection with the issue of the Offered Shares |
| Around 2–3 weeks after registration of the share capital increase | Expected date of introduction to trading and first listing of the Offered Shares in the alternative trading system on the NewConnect market of the Warsaw Stock Exchange |
