Kleos Space receives further €1,000,000 in funding

Funding News

Kleos Space (Kleosor Company) a space-powered Radio Frequency Reconnaissance data provider, advises that the Luxembourg Space Agency has approved an additional EUR €1,000,000 financial grant (non-equity) support for data product development.

Andy Bowyer, CEO of Kleos Space said, “The Luxembourg Space Agency eco system is highly supportive of commercial enterprises, assisting with product development financing and also licencing.

Today, the Grand Duchy of Luxembourg is home to approximately 50 space companies and research labs. The space sector’s contribution to the nation’s GDP is among the highest ratios in Europe.

The country’s expertise in international finance and dedicated funding resources foster the sustainable and ongoing development of the country’s space capabilities.

With the funding support approval from the Luxembourg Space Agency, Kleos have entered the European Space Agency Business Applications programme process and aim to be on contract with initial funding receipts by the end of 2019. Kleos’ Scouting Mission launch is confirmed for August 2019 on a Rocket Lab Electron launch vehicle.

The funding, conditional on successful launch of the Kleos Scouting Mission, will be applied towards further developing Kleos data products, enhancing capability and increasing revenues.

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