Magna Parva’s subsidiary Kleos Space has signed a memorandum of understanding (MoU) with the Government of Luxembourg to develop celestial technology and infrastructure.
Geolocation intelligence mission company Kleos Space will receive support from Luxembourg Government during the research and development phase. In addition, further support will be provided from research institutes such as the Luxembourg Institute of Science and Technology (LIST).
Under the MoU signed with Luxembourg Ministry of Economy, Kleos Space will develop, own and operate the geolocation intelligence space-based infrastructure, selling the collected data as a service (DaaS).
Furthermore, the agreement is related to the project for in-space manufacturing of composite beams equipped with antennas.
Kleos Space will work in partnership with Luxembourg-based company electronics development EmTroniX, and the LIST.
The in-space manufacturing technology will be funded through the Luxembourg space programme (LuxIMPULSE).
Once the company launches a radio transmission geolocation pathfinder satellite, it will take up the launch programme of a constellation of satellites that will be equipped with the InSpace Manufacturing technology.
Earlier this month, the government passed a new space mining law defining conditions needed for private companies to explore space resources and pursue commercial mining activities in outer-space.
The law was part of the country’s spaceresources.lu initiative with an aim to meet future energy needs, in addition to being a contingency plan for the eventual depletion of long-term Earth resources.
In May last year, US-based space technology company Deep Space Industries signed an MoU with the Luxembourg Government to develop technologies to pave the way for asteroid mining.
In 2016, the government also agreed to invest in asteroid mining company Planetary Resources. This investment is expected to further the company’s technical advancements to be able to launch the first commercial asteroid prospecting mission by 2020.