Summary sheet
The project concerns the promoter's research and development (R&D) efforts and the investments for prototypes to develop a new micro-satellite platform and several payloads. The plan foresees to scale the platform to about 450 kg weight, which would allow to host not only earth observation and signal intelligence but also heavy telecom payloads. The R&D activities as well as the testing of such systems are planned to take place mostly in Belgium, supported by activities in France. The current planning is to take these solutions from TRL3 to TRL 9 including a first in orbit demonstration.
The project will support research & development investments for the company's small satellite technology, platform and related payloads for applications in satellite communications, earth observation, and technology demonstrations. The operation aligns with EIB strategic priorities, directly supporting Digitalisation & Innovation and Security & Defence, by funding European space technology critical to commercial, civilian, and military monitoring activities, furthering EU Strategic Autonomy in space and the EU Space Programme. Moreover, it provides indirect support to Climate & Environment and Agriculture & Bioeconomy, through the positive global impact that satellite monitoring activities enable across many industries, for instance in optimising the exploitation of scarce natural resources or reducing carbon footprint via optimised maritime routes. It also helps Social Infrastructure and Modern Cohesion Policy via enabled satellite broadband communications. Finally, the venture debt loan supports the Capital Markets Union by filling a funding gap in EU venture capital markets.
The project is in line with the InvestEU objectives of developing the European space sector. Aerospacelab is a Belgian small satellite manufacturer and emerging earth observation company. It sells micro-satellites for communication, earth observation, and in-orbit technology demonstrations. It also plans to operate an own satellite constellation to capture terrestrial imagery. Its space products and services have broad communication, earth monitoring, and research applications across industries like forestry, agriculture, defence, security, maritime, insurance or finance.
The project aligns with several EIB strategic priorities, including direct support to the EU's policy goals of accelerating innovation, digitalisation, security and defence, by funding state-of-art space technology and infrastructure critical to defence, commercial, and civilian activities (mass-manufacturing large satellite constellations rapidly for earth observation and communications). The project provides also indirect support to climate, agriculture and bioeconomy, through the positive global impact that satellite monitoring activities can have across a broad variety of industries, for instance in optimising the exploitation of scarce natural resources or reducing carbon footprint via optimised maritime routes.
The venture loan would also fill a funding gap in venture capital markets, helping Aerospacelab in scaling towards profitability and become a major European technology player in the global stage. It will co-finance research & development in Belgium (EU), to develop next-generation satellites and payloads. The loan will grant risk capital at longer maturities and later repayments than current market standards for venture debt, allowing greater managerial focus on business execution thanks to a more stable capital structure. The EIB support will signal an EU stamp of approval to the market, requiring further crowding-in of new capital to unlock the full EIB loan. The project would not be carried out by the EIB without the InvestEU support.
The project activities do not fall under Annexes I and II of the EIA Directive 2014/52/EU amending Directive 2011/92/EU, and are therefore not subject to mandatory environmental impact assessment. The activities included in the scope of the project will be performed in existing office buildings and are not expected to have any relevant environmental impact. The Bank's services will review these assumptions during the project appraisal and any other relevant environmental aspect affecting the project.
The company has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.