Luxembourg signs on dotted line with Planetary Resources

(BSW) Luxembourg’s Government is a few steps closer to starting its asteroid mining venture after signing a Memorandum of Understanding withPlanetary Resources.

The agreement, signed with “Société Nationale de Crédit etd’Investissement” (SNCI) and US-based aerospace technologycompany Planetary Resources, provides the framework for their cooperation within Luxembourg’s SpaceResources.lu initiative.

The project’s goals are the exploration and commercial utilisation of resourcesfrom Near Earth Objects (NEOs), such as asteroids.

Within this partnership, the Government is considering adirect capital investment in the European headquarters establishedrecently by Planetary Resources in the Grand Duchy.

This public equityposition will be taken by the SNCI to become a minority shareholder. Forits part, Planetary Resources is contributing to the promotion of thelocal space industry by developing several key activities exclusively inLuxembourg focused on space hardware development,space services, applied research and scientific discovery.

TheGovernment will support these activities by providing funding throughR&D grants or other different types of aid available.

Luxembourg Deputy Prime Ministerand Minister of the Economy, Étienne Schneider, said: “TheGovernment’s partnership with Planetary Resources is another ambitiouspublic-private joint venture which demonstrates our strong commitment tosupport the national space sector by attracting innovative activitiesin space resource utilization and other related areas.”

The agreement paves the way to building up in Luxembourgresearch activities and technological capabilities in the fields ofpropulsion development, spacecraft launch integration, deep spacecommunications, asteroid science systems, Earth observation productdevelopment and mission operations.

Source: Luxemburger Wort (English)

June 13, 2016 Monday 15:31 GMT

LANGUAGE: ENGLISH

PUBLICATION-TYPE: Newspaper

SUBJECT: SPACE INDUSTRY (90%); PLANETS & ASTEROIDS (90%); AGREEMENTS (90%); JOINT VENTURES (78%); ALLIANCES & PARTNERSHIPS (76%); SPACE EXPLORATION (73%); SPACECRAFT (69%); SCIENCE NEWS (68%); SCIENCE & TECHNOLOGY (68%); SHAREHOLDERS (54%)

COMPANY: SOCIETE NATIONALE DE CREDIT A L’INDUSTRIE SA (57%)

COUNTRY: LUXEMBOURG (91%)

LOAD-DATE: June 13, 2016

Copyright 2016 Luxemburger Wort

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