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Luxembourg Government and Spire Global sign cooperation agreement to open a European HQ in the Grand Duchy

Published Wednesday November 15 2017

On 15 November 2017, the Luxembourg Government and the US-based company, Spire Global, signed a cooperation agreement to develop several key activities in the Grand Duchy focused on space platform engineering, data analytics, infrastructure engineering and business development. Spire is a satellite powered data company with offices in the US, Europe and Asia offering products for global ship tracking and high frequency weather data. The office to open in Luxembourg will serve as Spire’s full-service European headquarters.

The Luxembourg Future Fund (LFF) has committed to becoming a shareholder in Spire, participating in Spire’s latest $70m Series C financing round. The Luxembourg Future Fund aims to stimulate the diversification and sustainable development of the Luxembourg economy. It was set up by the European Investment Fund (EIF) and the Société Nationale de Crédit et d’Investissement (SNCI) and combines a EUR 120 million contribution from SNCI with EUR 30 million from the EIF.

Within the framework of the cooperation agreement, the Luxembourg Government will provide funding through the Luxembourg space program (LuxIMPULSE) and other types of R&D grants to the forthcoming operating subsidiary of Spire for research and development activities taking place in Luxembourg.

Étienne Schneider, Deputy Prime Minister and Minister of the Economy recalled that, “the Grand Duchy has a long-celebrated reputation for creating innovative partnerships with private aerospace companies. In 1985, Luxembourg became one of the founding shareholders of SES, a landmark for satellite telecommunications and now a world leader in this sector. By formalizing our relationship with Spire, we continue our Government’s three-decade history of attracting ground-breaking companies in this sector.”

"We’ve been deeply impressed with the support, commitment, and expertise of Luxembourg when it comes to New Space. Their robust yet supportive regulatory environment for New Space companies, coupled with incredible open access to international talent and targeted investment vehicles, made Luxembourg an obvious choice for our expansion" said Spire’s CEO Peter Platzer. "We’ll be quickly building out our office here full of some of the world’s best minds. Our talent team is looking forward to tapping into Luxembourg’s population of incredibly talented people in business and engineering."