The EC concluded agreements with the European Investment Bank and the European Space Agency, allowing Europe to boost its space research and investment.
At the European Space Policy Conference, taking place in Brussels on 21 and 22 January 2020, the European Commission (EC) and the European Investment Bank (EIB) announced €200 million of investment to promote ground-breaking innovation in the EU space industry. This is achieved by means of two different instruments: First, a deal was signed between the EIB and the ArianeGroup, confirming a €100 million contingent loan for the new Ariane 6 launcher programme. This agreement is supported by the European Fund for Strategic Investments and by InnovFin Risk Sharing for Corporate Research, which is in turn backed by Horizon 2020. According to the EIB, Ariane 6 will continue to enable Europe to deliver its launch activities for missions to all orbits, and to address market dynamics for large satellites, satellite constellations and the smaller satellite segment.
Second, the European Investment Fund (EIF) and the EC announced the first EU-backed InnovFin Space Equity Pilot and presented the first space-focused tech fund supported under the pilot. The InnovFin Space Equity Pilot is a €100 million venture capital programme under InnovFin specifically dedicated to support innovation and growth of European smaller and medium-sized space technology companies. It will invest in venture capital funds across the EU, which support companies that commercialise new products and services in the space technology sector. According to the call for expression of interest, the InnovFin Equity Facility is open to venture capital funds in EU Member States and Horizon 2020 Associated Countries. The first fund selected by the EIF under this pilot is Primo Space, an Italian early-stage tech investor.
Both announcements represent “a game changer for Europe in the European space industry”, according to EU Commissioner for Internal Market Thierry Breton. The EIB loan for the Ariane 6 would contribute to greater autonomy in Europe’s access to space, while the InnovFin Space Equity instrument would “send a clear signal that space business in Europe is an attractive opportunity.” Mariya Gabriel, EU Commissioner for Innovation, Research, Culture, Education and Youth added that for “European space researchers, innovators and entrepreneurs, getting access to finance is key for their success.”
Another milestone in European space research also reached last week: On 22 January, the EC’s Directorate-General for Research and Innovation (DG RTD) and the European Space Agency (ESA) signed a Working Agreement to ensure a more efficient approach to earth-system science. The aim of the joint initiative is the alignment of Horizon Europe, the next European Framework Programme for Research and Innovation, with FutureEO, the ESA’s research programme. The EC-ESA Working Agreement addresses global challenges such as climate change, increasing pressure on critical resources, and environmental pollution and its impact on health and biodiversity. Through the joint initiative, the EC and the ESA intend to reduce inefficiencies and fragmentation of European space research and to increase the scientific and societal impact of EU and ESA investments.