Luxembourg Space Agency Grants Approximately $1.1 Million to Kleos Space
Kleos Space, a space-powered Radio Frequency (RF) Reconnaissance data provider, revealed that the Luxembourg Space Agency (LSA) has approved an additional $1.1 million ($1 million euros), non-equity, support for data product development.
Luxembourg is home to approximately 50 space companies and research labs. According to the release, the space sector’s contribution to the nation’s GDP is among the highest ratios in Europe.
With the funding support approval from the Luxembourg Space Agency, Kleos has entered the European Space Agency (ESA) Business Applications program process and aims to be on contract with initial funding receipts by the end of 2019. The funding, conditional on successful launch of the Kleos Scouting Mission, will be applied towards further developing Kleos data products. 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.”