Luxembourg, Edinburgh – 20 December 2021 – The Luxembourg Future Fund (LFF) will be investing in NorthStar Earth & Space, building on the partnership between Luxembourg’s Ministry of the Economy and the Canadian-based company.
NorthStar claims to be the first commercial service aiming at monitoring space via a constellation of satellites. Their dedicated optical sensors provide space traffic data, collision avoidance and navigation services.
LFF will co-invest €10M in NorthStar, while the Luxembourg government will provide funding through LuxIMPULSE, the national space program. Other research and development grants may also be awarded by the government in order to support the company’s local activities. In exchange, NorthStar will establish its European headquarters in Luxembourg.
The firm will set up a centre for Space Situational Awareness, Space Domain Awareness, and Space Traffic Management in the country. NorthStar will focus on providing space-based object tracking services to promote safe satellite operations and a sustainable space environment.
Meanwhile, NorthStar appointed Kevin O’Connell, former Director at the Office of Space Commerce, Chairman of its U.S. company Advisory Board. The announcement was made at the 2021 Euroconsult World Satellite Business Week event in Paris.
The European Space Agency (ESA) wants to accelerate the use of space in Europe with an annual budget of € 7.15 billion, the agency said. The largest envelopes are invested in Earth Observation (€ 1.6 billion), Navigation (€ 1.5 billion), and Space Transportation (€ 1 billion). Copernicus suffers a budget shortfall of € 750 million due to the withdrawal of the UK.