The European Commission is partnering with the European Investment Bank, announcing €200 million of investments into the EU space sector, supporting ground-breaking Innovation in the industry.
During the European Space Policy Conference in Brussels, EIB Vice-President Ambroise Fayolle is signing an agreement with André-HUbert Roussel, CEO of ArianeGroup, confirming a €100 million loan for the new Ariane 6 launcher programme, the EU Commission stated.
In addition, the Commission and the EIB are jointly announcing the First Ever EU-backed InnovFin Space Equity Pilot and the first space focused tech fund supported under the pilot in Europe.
The InnovFin Space Equity Pilot is a €100 million programme under InnovFin specifically dedicated to support the innovation and growth of European SMEs operating in the sector of space technologies.
The programme will invest in venture capital funds across the EU which support companies commercialising new products and services in the space sector, the Commission stated.
The European space economy is already valued €50 billion (as of 2019) and the research in aerospace technologies is one of the priority areas covered by the Industrial leadership and Societal Challenges of Horizon 2020, the Commission added.
