European Investment Fund Announces €300 Million of Space Sector Finance with New Investments into Orbital Ventures & Primo Space

  • EIF attracts €300 million to support the innovation and growth of European smaller and medium-sized space technology companies under the InnovFin Space Equity Pilot,
  • New agreements with Orbital Ventures SCA SICAV-RAIF and Primo Space announced at the European Space Conference in Brussels.
  • The EIF’s participation is backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.

LUXEMBOURG (EIF PR) — The European Investment Fund (EIF) is partnering with the European Commission, to announce €300 million of investments into the EU space sector, supporting ground-breaking innovation in the industry.

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European Union Consolidating Space Programs Under Expanded & Renamed GNSS Agency

by Douglas Messier
Managing Editor

The European Union (EU) is consolidating its space programs under an existing agency that is being given an expanded mandate.

The European Global Navigation Satellite Systems Agency (GSA), which will be renamed the EU Agency for the Space Programme (EUASP), will take on managing the use of the Copernicus Earth observation satellite system and oversee new initiatives in satellite communications named GOVSATCOM and space situational awareness (SSA).

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EU Eyes Satellite Broadband Network

Concerned about being left behind, the European Union (EU) is looking to develop a satellite broadband constellation to keep up with systems being built by OneWeb and SpaceX’s Starlink.

BBC News reports that EU Internal Market Commissioner Thierry Breton believes there’s not a moment to lose.

“My objective is to go fast. And therefore it would be appropriate that the Commission puts forward this year a proposal to the European Parliament and the Council so we can move concretely,” he told the 13th European Space Conference on Tuesday.

“To be ready, we launched a few weeks ago a study on a secure space-based connectivity system. The selected consortium consisting of European satellite manufacturers, operators and service providers, telco operators and launch service providers will study the possible design and development of this project.”

“This will provide insights on the technical dimension, but also the governance structure, the financing, the missions, the exact scope. I expect their first feedback in April this year.”

[….]

[EU officials] talk about a mix of low, medium and geostationary satellites that use advanced quantum encryption, are interlinked with optical connectors, and which piggyback sensors that might also be used to monitor aviation and shipping – just as examples. But, they argue, fast, secure, low-latency, space-borne connectivity will be the must-have capability to enable a raft of coming technologies, such as self-driving cars.

EU officials are hoping to have some initial capability as early as 2024.

European Commission Welcomes Political Agreement on EU Space Program

European GNSS Agency (GSA) to evolve into European Union Agency for the Space Programme, with expanded duties and responsibilities

BRUSSELS (European Commission PR) — The Commission welcomes the political agreement between the European Parliament and the EU Member States on the European Union Space Programme proposed by the Commission in June 2018. Trilogue negotiations have now concluded with the political agreement, pending the final approval of the legal texts by the European Parliament and the Council. The EU Space Programme will bring all existing and new space activities under the umbrella of a single programme.

Thanks to the financial envelope of €13.202 billion agreed by the co-legislators, the EU Space Programme will ensure the further development of the current European flagship programmes, Copernicus for earth observation and Galileo/EGNOS for satellite navigation.  It will also enable the launching of European initiatives in satellite communication (GOVSATCOM) and on Space Situational Awareness (SSA) for the protection of space infrastructure from space debris.

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