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Luxembourg backs Space Resources initiative

Luxembourg is holding a major press conference this coming Friday (June 3) to highlight a framework for space exploration and commercial utilisation of resources from New Earth Objects such as asteroids.

The event will be hosted by Luxembourg’s prime minister Xavier Bettel, who also looks after the communications & media portfolio. Jean-Jacque Dordain, the DG of the European Space Agency will also be present along with VIPs from NASA’s Ames Research Centre.

The initial announcement was made in February, when its government said – as with satellite broadcasting – Luxembourg would be a pro-active lopcation for would be asteroid entrepreneurs to establish their new businesses.

Luxembourg already offers a 45 per cent rebate on cash spent on R&D.

It is known that the potential scheme has held talks with many of the existing players in the industry including Planetary Resources Inc and Deep Space Industries Inc. Deep Space Industries has already established a Luxembourg subsidiary. Luxembourg says it wants to offer a friendly regulatory landscape and is prepared to invest directly in companies active in the sector.

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