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Europe to launch telecoms satellite in 2012
Europe is planning to launch a 225 million Euro telecoms satellite in 2012, with backing from the European Commission-created Risk-Sharing Finance Facility (RSFF).
The Alphasat mission will be a joint undertaking between the European Space Agency (ESA) and Inmarsat Plc, a UK-based satellite communications company. The EC’s Research, Innovation and Science Commissioner, Máire Geoghegan-Quinn, launched the project in Brussels alongside European Investment Bank President Philippe Maystadt and Inmarsat Chief Operating Officer Perry Melton.
“Alphasat will be launched thanks to EU funds, EIB loans and private sector entrepreneurship,” says Commissioner Geoghegan-Quinn. ”It will help Europe's space industry to innovate, contribute to jobs in the knowledge economy and bring much-needed services to people in remote regions. It will be a symbol of the Europe 2020 Strategy in orbit."
“This confirms the EIB’s long-standing support to Europe’s space industry,” says Maystadt. “This satellite will put European industry in a leading position in this segment and could bring significant spill-over effects for research and innovation in Europe. This is the type of investment the EIB intends to finance further under the EU-2020 initiative.”
The joint EC-EIB Risk Sharing Finance Facility – backed by funds from the European Union’s 7th research framework programme – as well as contributions from the EIB and ESA, will finance the mission.
To find out more about the European Investment Bank, visit the organisation’s website.
Published: Friday, 23rd April 2010 by Tom Freeman
