Kleos Space receives further grant from Luxembourg Space Agency
(14 June 2019 - Luxembourg Space Agency) Kleos Space, a space-powered Radio Frequency Reconnaissance data provider, has obtained Luxembourg Space Agency approval of an additional EUR €1,000,000 (AU$1,631,900) financial grant (non-equity) support for data product development.
(courtesy: Kleos Space)
The funding, conditional on successful launch of the Kleos Scouting Mission, will be applied towards further developing Kleos data products, enhancing capability and increasing revenues.
With the funding support approval from the Luxembourg Space Agency, Kleos has entered the European Space Agency Business Applications programme process and aims to be on contract with initial funding receipts by the end of 2019.
Andy Bowyer, CEO of Kleos Space said: "The Luxembourg Space Agency eco system is highly supportive of commercial enterprises, assisting with product development financing and also licencing."
Luxembourg is home to approximately 50 space companies and research labs. The space sector’s contribution to the nation’s GDP is among the highest ratios in Europe.
The country’s expertise in international finance and dedicated funding resources foster the sustainable and ongoing development of the country’s space capabilities.