An adventurous and unproven enterprise like space mining requires the financial backing, legal frameworks, and favorable regulatory structures that allow the work to even take place. Luxembourg has expertise in that area, given its experience in the mid-1980s with the commercial satellite industry. Up until that decade, satellites in space were government-funded or government-mandated. That changed in the 1980s, and Luxembourg led the charge in the satellite communications industry when it launched Société Européenne des Satellites in 1985. Otherwise known as SES, it was Europe's first private satellite operator; today, Luxembourg's SES is the world's second-biggest commercial satellite operator.
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"Smaller countries can really make a big impression if they focus," said Peter Stibrany, chief strategist at Deep Space Industries, a VC-backed company seeking to process materials mined from asteroids wholly in space. "Luxembourg focused on satellite communications and made a huge success of it, and now they're focused on asteroid mining.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/luxembourg-europe/?&tag=Space
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An adventurous and unproven enterprise like space mining requires the financial backing, legal frameworks, and favorable regulatory structures that allow the work to even take place. Luxembourg has expertise in that area, given its experience in the mid-1980s with the commercial satellite industry. Up until that decade, satellites in space were government-funded or government-mandated. That changed in the 1980s, and Luxembourg led the charge in the satellite communications industry when it launched Société Européenne des Satellites in 1985. Otherwise known as SES, it was Europe's first private satellite operator; today, Luxembourg's SES is the world's second-biggest commercial satellite operator.
More from Global Investing Hot Spots:
The $5 billion South Korean start-up that's an Amazon killer
Emerging markets maven Mark Mobius to launch new firm
Tech investors in Apple and other stocks in crosshairs of trade war
"Smaller countries can really make a big impression if they focus," said Peter Stibrany, chief strategist at Deep Space Industries, a VC-backed company seeking to process materials mined from asteroids wholly in space. "Luxembourg focused on satellite communications and made a huge success of it, and now they're focused on asteroid mining.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/luxembourg-europe/?&tag=Space