Luxembourg provides a unique legal, regulatory and business environment enabling private investors and companies to explore and use space resources
The identification and utilization of space resources is fast becoming a reality, driven by a revolution in space technology, accelerating exploration of outer space and the eventual scarcity of certain resources on Earth. Building on its long history at the forefront of the commercial satellite communications industry, Luxembourg aims to play a leading role in the exploration and utilization of these resources.
Its goal is to ensure that space resources explored under its jurisdiction serve a peaceful purpose, are gathered and used in a sustainable manner compatible with international law and for the benefit of humankind. Luxembourg’s vision is built on support for advanced research activities and technological capabilities, drawing on the country’s existing expertise in the space sector and its ongoing strategy of economic diversification into future-oriented high-tech industries.
Two Luxembourg-related start-ups were among the winners of Space Exploration Masters, an international competition aiming to identify and reward technology-transfer business successes and business innovation ideas for space exploration.
Luxembourg’s Deputy Prime Minister and Minister of the Economy Etienne Schneider declared: “After the agreements signed with Portugal and the United Arab Emirates, this is another important step forward in enhancing international cooperation."
For the first time, the Luxembourg National Research Fund (FNR) has committed funding to two space related projects contributing to the development of the SpaceResources.lu initiative.
An article was published by Forbes, dedicated to NewSpace Europe, the first space conference in Europe to focus solely on the newspace industry and the economic opportunity of space.