Funding for Our First Satellite Mission: Press Release by Ministry of Economy & Space Agency
GREAT ACHIEVEMENT for OQ Technology Sarl! We are very proud of this result!
We have secured the funding and signed the contract for our first In-Orbit-Demonstration mission for satellite-based #IoT. We are very thankful to Luxembourg Space Agency, Ministère de l’Économie – Luxembourg, and European Space Agency – ESA for their remarkable support and confidence in our #startup. The funding for this mission contributes significantly to our Series-A funding round and enhances the confidence of our potential investors by reducing their risk. It also expands the base of our customers and partners, and finally encourages high-talent individuals to join our team. Two years ago we started in a small office in #Wasserbillig and today we are at Tomorrow Street planning for launching our first #satellite. Together with consortium partners: EmTroniX and GomSpace we are VERY confident we will succeed in the satellite IoT race. Thank you to everyone who stood with us during this journey.
Read official press release text under this link:
Press Release by Luxembourg Space Agency:
Link to news on Via Satellite:
Text of the Press Release:
“A consortium of three Luxembourg-based companies lead by OQ TECHNOLOGY will develop, build and perform a demonstration in orbit of an innovative approach for satellite-based Internet-of-Things (IoT).
Based on the In-Orbit Demonstration of a single satellite to perform experiments using the new technology in space, OQ TECHNOLOGY aims to build a global satellite constellation dedicated to IoT communication by leveraging innovative wireless technology and using low cost connectivity solutions based on nanosatellites.
The project is targeting specifically the oil and gas, maritime, industry 4.0 and transport segments particularly for the management and tracking of assets in remote areas, as well as providing high-value data analytics. The funding provided for this activity under the LuxIMPULSE Grand Duchy’s national space programme and the European Space Agency (ESA) amounts to a total maximum envelope of 6 million EUR.
Marc Serres, CEO of the Luxembourg Space Agency, says: “This project showcases both the capabilities of and the collaboration potential among the actors of the national space sector. Creating effective partnerships on national level contributes to build a thriving ecosystem in Luxembourg that stimulates innovation and accelerates the evolution of business in space.”
OQ TECHNOLOGY was founded in 2016 in Wasserbillig. Using low-cost satellite infrastructure to connect sensors, devices and measurement units in remote and sparsely connected areas, the company recently moved to Vodafone’s Innovation Centre “Tomorrow Street”. The consortium also includes EmTroniX, a company specialized in electronics development and GomSpace, a globally leading designer, integrator and manufacturer of high-end nanosatellites.
Within this project, EmTroniX will be developing the payload and user terminals hardware, whereas GomSpace will be designing and building the satellite platform. OQ TECHNOLOGY will be developing and designing the full system, developing the software for the payload and user terminals and finally demonstrating the satellite and the data analytics platform.”
Press release by the Luxembourg Space Agency
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