LUXEMBOURG (Luxembourg Government PR) – During a meeting of a parliamentary committee, Étienne Schneider, Deputy Prime Minister and Minister of the Economy confirmed that the Government of Luxembourg, together with public and private sector partners, have invested a stake in Orbital Ventures (‘the Fund’), an investment fund focused on early stage companies engaged in space activities. Luxembourg’s involvement builds on the country’s commitment to unlock the economic potential of the commercial space industry.
MONTREAL (Luxembourg Space Agency PR) — During the visit of Luxembourg’s Deputy Prime Minister, Minister of the Economy, Étienne Schneider to the NorthStar Earth & Space headquarters in Montreal, a cooperation was launched to enable a Clean Space initiative to foster sustainability in space.
The Clean Space initiative would evaluate the use of NorthStar Earth and Space Information services with the support of Luxembourg’s insurance, financial and satellite operator communities to address some of the key issues related to space traffic management, sustainable commercialization of space activities, insurance products for space operations to promote growth in commercial space activities, and satellite operational challenges.
LUXEMBOURG (Luxembourg Space Agency PR) — The Grand Duchy of Luxembourg and the United States of America today signed a memorandum of understanding (MoU) that will serve to catalyze and significantly deepen cooperation between the two countries in the field of space. Étienne Schneider, Luxembourg’s Deputy Prime Minister and Minister of the Economy, signed the MoU for the Grand Duchy. Wilbur Ross, U.S. Secretary of Commerce, signed for the United States.
The Memorandum will serve as a vehicle to establish a more formal dialogue, sharing of expertise and exchange of information between Luxembourg and the United States. The MoU will promote the continued growth of their respective space industries through new commercial and investment opportunities, as well as strengthen policy coordination as the two countries lead the international community in promoting a business-friendly regulatory framework.
LUXEMBOURG (University of Luxembourg PR) — The University of Luxembourg announces the launch of a new two-year Interdisciplinary Space Master study course in the fall of 2019. The Master programme aims to provide students with the required engineering skills in the space industry, along with both deep and broad knowledge to manage space-related business activities.
Luxembourg Economy Minister Etienne Schneider has disclosed to Parliament that the nation lost €12 million ($13.7 million) investing in the asteroid mining company Planetary Resources, the Luxembourg Times reports.
In October, Luxembourg sold its stake in the company, which was acquired by the block chain management firm ConsenSYS.
The SNCI set up the SAAM Luxembourg, a company created with €13.75 million [$15.7 million], of which €12 million [$13.7 million] was directly invested in Planetary Resources for the 10% stake in its shares.
“This decision to sell results, among other things, from an analysis of the particular American legal context and prudent management which intends to limit the potential exposures of SAAM Luxembourg, or even of SNCI as sole shareholder of SAAM Luxembourg,” Schneider explained.
“The realised capital loss corresponds roughly to the value adjustment (of 100% of the sums invested in Planetary Resources) in the accounts in SAAM Luxembourg’s 2017 annual results,” he added.
LUXEMBOURG CITY (Luxembourg Government PR) — The Grand Duchy of Luxembourg, represented by the Deputy Prime Minister, Minister of the Economy, Étienne Schneider, and the Republic of Poland, represented by the Minister of Entrepreneurship and Technology, Jadwiga Emilewicz, signed a memorandum of understanding (MoU) to start bilateral cooperation on space activities with particular focus on the exploration and utilization of space resources. The five-year MoU covers the exchange of information and expertise in the areas of space technologies, policy, law and regulation.
LUXEMBOURG CITY (Luxembourg Space Agency PR) — The arrival of Made In Space, Hydrosat and CubeRover further widens the spectrum of activates of the Luxembourg business-oriented space ecosystem and reinforces the Luxembourg space capabilities.
LUXEMBOURG (Ministry of the Economy PR) — The Luxembourg Space Agency (LSA) officially launched operations today with the goal of promoting the further economic development of the Grand Duchy’s space industry by attracting businesses, developing human resources, providing innovative financial solutions and supporting educational and research infrastructur
Unlike many similar organisations abroad, Luxembourg’s space agency will not directly conduct research or launch missions, but foster collaboration between key players in the space industry, with the core mission of accelerating the emergence of innovation-driven businesses.
LUXEMBOURG (Ministry of the Economy/FRN PR) — Deputy Prime Minister, Minister of the Economy, Étienne Schneider, and Secretary General and Executive Head of the Luxembourg National Research Fund (FNR), Marc Schiltz, signed an agreement to develop a program to support research for the commercial space industry in Luxembourg.
The “Space Research Program” will provide funding for national public research institutions and Luxembourg based companies to collaborate with each other to advance knowledge, to attract and nurture top-tier talent, and to provide sustaining contributions to the Luxembourg space industry ecosystem.
Kleos Space will start trading on the ASX today, Friday 24 August 2018 at 11 am Sydney time (3:00 am CET), after a successful 6.96 Mio EUR (11 Mio AUD) capital raising
Funding allows the company to launch their first satellite system in mid-2019
Targeting the 25.95 Mia EUR global Intelligence Surveillance and Reconnaissance (ISR) market
The data from Kleos satellites will help protect borders and provide maritime security
Led by a team with extensive space engineering experience including multi million Euro contract deliveries for the European Space Agency, including the Mars Exploration Mission
LUXEMBOURG/SYDNEY, 24 August 2018 (Kleos Space PR) — Luxembourg-based company, Kleos Space S.A., has successfully closed 6.96 Mio EUR (11 Mio AUD) in funding and will begin trading on the Australian Stock Exchange today, Friday 24 August 2018 at 11 am Sydney time (3:00 am CET).
Chinese Academy of Sciences to establish a Research Laboratory in Luxembourg
LUXEMBOURG, January 16, 2018 (Luxembourg Government PR) – The Ministry of the Economy and the China National Space Administration (CNSA) signed today a Memorandum of Understanding (MoU) that provides a framework for the development and implementation of scientific, technical, economic and political cooperation between Luxembourg and China in the exploration and use of outer space for peaceful purposes. The areas of potential cooperation include, but are not limited to economic, legal, regulatory and technological aspects of the utilization of space resources.
Furthermore, the Ministry of the Economy, represented by Deputy Prime Minister, Minister of the Economy, Étienne Schneider and the National Space Science Center (NSSC) of the Chinese Academy of Sciences (CAS) signed a cooperation agreement to establish a Research Laboratory of Deep Space Exploration in Luxembourg. The National Space Science Center is China’s gateway to space science. It is the key institute responsible for planning, developing, launching and operating China’s space science satellite missions.
The Research Laboratory of Deep Space Exploration will be established as an independent legal entity in Luxembourg where it will carry out scientific research and technology development and thus contribute to achieving the objectives set forth within the SpaceResources.lu initiative. Other main research fields of the Research Laboratory include universal interplanetary communications network related technology or advanced deep space communications technology. In a first stage, the Research Laboratory will employ at least 5 employees in Luxembourg.
LUXEMBOURG (Government PR) — Deputy Prime Minister and Minister of Economy Etienne Schneider will pay a working visit to the People’s Republic of China from January 15 to 16, 2018.
The Luxembourg delegation will travel to Beijing where Etienne Schneider will meet with political and economic leaders. The Deputy Prime Minister, Minister of Economy will be, among others, welcomed by the Minister of Commerce, Zhong Shan, to take stock of the development of trade relations between the two countries.
Interviews with senior officials from the China Academy of Science and the Chinese Space Agency will also be on the agenda. During these interviews, cooperation agreements between Luxembourg and the People’s Republic of China will be signed in the scientific and spatial field, and more particularly in the field of exploration and use of resources in space.
PARIS (Luxembourg Government PR) — At the occasion of the 2017 Paris Air Show in Le Bourget, Luxembourg’s Deputy Prime Minister and Minister of the Economy Etienne Schneider visited the ESA pavilion and, together with ESA Director General, Jan Wörner, signed a joint statement on future activities concerning missions to the asteroids, related technologies and space resources exploration and utilisation.
LUXEMBOURG (Luxembourg Government PR – To promote Luxembourg as a European hub for the exploration and commercial use of space resources, the Ministry of the Economy conducted from April 9th to April 13th an economic mission headed by Luxembourg’s Crown Prince to the U.S. West Coast. The mission aimed to identify and develop new business opportunities and to promote the governmental SpaceResources.lu initiative that offers an attractive overall framework for space resource utilization related activities, including but not limited to the legal regime to provide private companies and investors with a secure legal environment as of the ownership of resources gathered in space.
Luxembourg will make an initial investment of 200 million euros ($227 million) to become the “Silicon Valley of space resources” under an initiative that will primarily benefit two American asteroid mining companies.