GomSpace and Luxembourg to develop space activities in the Grand Duchy
by Staff Writers
Stockholm, Sweden (SPX) Sep 29, 2017
GomSpace Group AB and The Ministry of Economy in Luxembourg signed a Memorandum of Understanding (MoU) for their cooperation to develop, through a company in the Grand Duchy and 100% owned by GomSpace.
The purpose is to create a Luxembourg based business unit with focus on operations of satellite constellations as well as data processing and distribution offered as a service to an international customer base, including a support center dedicated to regulatory affairs.
Within the framework of this MoU, the Ministry of the Economy will provide funding through the Luxembourg space program (LuxIMPULSE) and other types of R and D grants to the forthcoming subsidiary of GomSpace for research and development activities to take place in Luxembourg. By 2021, the company intends to employ up to 50 full time employees in the Grand Duchy.
Luxembourg Deputy Prime Minister and Minister of the Economy, Etienne Schneider, stated: "The implementation of GomSpace in Luxembourg will be widening the capabilities of the local expertise ecosystem, in particular in the nanosatellite segment.
By choosing the Grand Duchy for their international expansion, GomSpace acknowledges the substantial efforts of the government over the last years to put in place the necessary measures to support the continued strengthening and diversification of its space sector, including but not limited to the SpaceResources.lu initiative."
Niels Buus CEO of GomSpace Group AB added: "With this initiative we will widen our participation in the value chain targeting full turn-key based solutions based on our nanosatellite technology.
"In Luxembourg we can find the human capital with experience in satellite operations and we expect that the eco-system being built up by the Luxembourg Government will provide a strong foundation for scaling our business and partnering with other local key players."
Sydney (AFP) Sept 25, 2017
Australia on Monday committed to creating a national space agency as it looks to cash in on the lucrative and fast-evolving astronautical sector. The announcement came at a week-long Adelaide space conference attended by the world's top scientists and experts including SpaceX chief Elon Musk. It brings Canberra - which already has significant involvement in national and international sp ... read more
The latest information about the Commercial Satellite Industry
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.|