How does Luxembourg support space companies?

Luxembourg has developed a variety of ways to support the country’s space businesses. Last year it invested with public and private sector partners in Orbital Ventures, a €70m fund that supports commercial space start-ups. The European Investment Bank is another source of funds for space companies in Luxembourg.

Is Luxembourg a space power?

Luxembourg first emerged as a potential space power five years ago. In February 2016, the Grand Duchy launched its Space Resources programme, a project to prepare for the future use of extraterrestrial minerals, water and gases to provide energy and materials for human activities beyond Earth.

Is Luxembourg's space industry tipped to grow?

"Space Integral to Luxembourg's Economic Diversification: Marc Serres, CEO, Luxembourg Space Agency". geospatialworld.net. Retrieved 26 February 2024. ^ Charlier, Isabelle (26 February 2024). "Luxembourg's space industry tipped to grow".

Does Luxembourg make satellites?

Luxembourg’s first and largest space company, the satellite broadcaster SES, founded in 1985, does not manufacture its large satellites in the Grand Duchy, though it develops control software and runs a testing and integration lab there. However, Luxembourg is beginning to produce microsatellites.

How does Luxembourg contribute to global space exploration?

One of Luxembourg's key contributions to global space exploration is not probes or launch vehicles, but rather the legal framework and bureaucracy required to govern space activities, both by governments and private firms.

Does Luxembourg have a space law?

Meanwhile Luxembourg is strengthening its national space law. In 2017 it became the first European country — and the second in the world after the US — to provide a legal framework for companies based there to exploit resources in outer space. This was supplemented by further legislation passed by Luxembourg’s Parliament in December 2020.