EIB Backs Belgian Aerospacelab's €37.5M Satellite Push
The European Investment Bank (EIB) is making its first foray into Belgian space technology with a €37.5 million financing deal for Aerospacelab. The Belgian satellite manufacturer is pioneering mass production of large satellite constellations, bolstering the EU's capacity in the burgeoning News Space sector.
Aerospacelab, which has previously equipped multiple countries with satellites, will use the EIB funds to develop and expand its portfolio of satellite platforms and payloads. This will extend their applications to telecommunication and earth observation, further cementing the EU's position in cutting-edge space technologies.
The EIB's investment is part of its TechEU plan, aiming to commit €70 billion in support of European tech champions by 2027. It also aligns with the EIB Group's strategy to boost financing for projects that reinforce European security to record levels this year. The financing is backed by InvestEU, the EU's flagship programme, and comes alongside new equity capital from existing and new investors.
With the EIB's backing, Aerospacelab is set to advance its mass manufacturing capabilities, driving innovation in the EU's News Space sector. This investment not only supports a Belgian tech champion but also strengthens the EU's competitiveness and security in the global space arena.
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