Luxembourg to Launch a Fund Offering Financial Support for the Space Resource Industry

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.

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  1. At the Paris Air Show in Le Bourget on June 21, 2017, the ESA announced Europe’s first innovation competition on space exploration, the “Space Exploration Masters”. The Luxembourg Ministry of the Economy and its SpaceResources.lu initiative feature a special prize in this competition, focused on ideas targeting the utilization of space resources.

  2. At the 2017 Paris Air Show in Le Bourget, Luxembourg’s Deputy Prime Minister and Minister of the Economy Etienne Schneider and ESA Director General, Jan Wörner, signed a joint statement on future activities concerning missions to the asteroids, related technologies and space resources exploration and utilization.