Release date: 1 December 2022
Promoter – Financial Intermediary
GOMSPACE A/SLocation
Description
The project concerns the research and development (R&D) investments for an enlarged satellite platform including streamlined subsystems for their entire product range. For payloads the focus is on high frequency applications, which are crucial for the telecom sector. The project is implemented mainly in Alborg (Denmark) complemented by smaller implementations in other EU countries.
Additionality and Impact
GomSpace is a reputable Danish nano-satellites manufacturer in the emerging and strategically important European New Space industry. The project entails a venture loan to GomSpace to co-fund innovation and growth investments, mainly in Denmark (EU). This targets multiple EIB and EU policy goals, including funding EU deep tech innovation and strategic autonomy in space (with further positive externalities across industries), and addressing an investment gap in European venture capital markets. The project will support the faster development of GomSpace's satellite platform, adding more functionality and efficiency to its satellite products and services. This will improve access, quality and frequency of space data for various terrestrial and space applications, such as earth observation, satellite broadband communications, climate monitoring, or space exploration and research. The EIB venture loan will grant substantial risk capital at longer maturities and later repayments than current market standards for venture debt, allowing faster execution and greater managerial focus on business strategy, thanks to a more stable capital structure. The EIB investment also signals a stamp of approval by the EU to the market, favouring the crowding-in of new investors.
Objectives
The project aims to support a leading European nano-satellite manufacturer and the European New Space industry, in line with EU space policy. The venture loan will co-finance the promoter's investment plan in R&D, operating, and capital expenditures in the EU, mainly in Denmark, over 2022-2025. The investments will fund product development (satellite products, platforms and solutions) and related new recruits.
Sector(s)
- Telecom - Information and communication
Proposed EIB finance (Approximate amount)
EUR 18 million
Total cost (Approximate amount)
EUR 46 million
Environmental aspects
The investments will concern mostly R&D activities carried out in already existing facilities. Therefore the project does not fall under Directive 2014/52/EU amending the EIA Directive 2011/92/EU.
Procurement
The promoter is a private company not operating in the Utilities sector and does not have the status of a contracting authority. Thus it is not covered by EU Directives on public procurement.
Status
Signed - 25/11/2022
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).