COMPANIES & STRATEGIES - TECHNOLOGY

NorthStar

Luxembourg invests €10m in Canadian space company



NorthStar provides commercial space surveillance services from space rather than from earth while also generating real-time data on space traffic, collision avoidance and navigation. Photo: Luxembourg ministry of the economy.

NorthStar provides commercial space surveillance services from space rather than from earth while also generating real-time data on space traffic, collision avoidance and navigation. Photo: Luxembourg ministry of the economy.

The Luxembourg Future Fund (LFF) will take part in a €40m co-investment in Canadian space company NorthStar Earth & Space which is in the process of setting up its European headquarters in the grand duchy.

Luxembourg’s involvement builds on its partnership with NorthStar which kicked off in 2019. The LFF’s investment of €10m will be provided through the national space programme LuxImpulse, managed by the Luxembourg Space Agency (LSA).

NorthStar provides commercial space surveillance services from space rather than from Earth while also generating real-time data on space traffic, collision avoidance and navigation.

“NorthStar's approach paves the way for a safer and more sustainable future in space. Luxembourg has a long-standing reputation as a pioneer in partnering with space companies that develop innovative and technological breakthroughs for sustainable activities, both in space and on earth,” said economy minister Franz Fayot in a press release.

In the process of establishing its European headquarters in Luxembourg, NorthStar also plans on setting up a centre of excellence for Space Situational Awareness (SSA) products and for space traffic analysis and management awareness. The Canadian company also will look to co-operate with the national High Performance Computer (HPC).

“We are delighted to establish our European headquarters in Luxembourg, a leader in space, finance and reinsurance. Luxembourg's pioneering work in developing SES Global, the world's largest commercial satellite operator, and ongoing ICT initiatives and investments play an important role in the new space economy,” said NorthStar chairman Charles Sirois.