- Parabolic Arc
- November 29, 2023
Luxembourg Pivots Right Out of Planetary Resources’ Investment
The government of Luxembourg’s investment in asteroid miner turned block chainer Planetary Resources is over, the Luxembourg Times reports.
The Luxembourg government sold its 10% stake in US space firm Planetary Resources ahead of its takeover by blockchain venture ConsenSys.
ConsenSys announced on Wednesday it had acquired Planetary Resources through an asset-purchase transaction.
The Luxembourg government first took a stake in the company in 2016, when the Economy Ministry signed a memorandum of understanding and agreed to invest €25 million.
The Luxembourg government has also invested in Planetary Resources’ rival, Deep Space Industries.