Economy minister Étienne Schneider, pictured, said the firm’s decision reflected the measures put in place by the government to strengthen and diversify Luxembourg’s space sector Christophe Olinger/archives

Economy minister Étienne Schneider, pictured, said the firm’s decision reflected the measures put in place by the government to strengthen and diversify Luxembourg’s space sector Christophe Olinger/archives

The Danish firm is to open a Luxembourg subsidiary by 2021 where up to 50 full-time jobs will be created, according to the firm’s website.

“With this initiative we will widen our participation in the value chain, targeting full turn-key based solutions based on our nanosatellite technology,” GomSpace Group AB CEO Niels Buus said, adding: “In Luxembourg we can find the human capital with experience in satellite operations and we expect that the eco-system being built up by the Luxembourg government will provide a strong foundation for scaling our business and partnering with other local key players.”

The business will reportedly focus on operations of satellite constellations, data processing and distribution offered as a service to an international customer base, with a support center dedicated to regulatory affairs.

To formalise the cooperation, GomSpace and the economy ministry signed a memorandum of understanding. The GomSpace subsidiary will remain 100% owned by GomSpace.

Economy minister Étienne Schneider said the firm’s decision reflected the measures put in place by the government to strengthen and diversify Luxembourg’s space sector. He expects the firm to widen the capabilities of the firms already based in Luxembourg, particularly in the field of nanosatellites.