Luxembourg to Launch a Fund Offering Financial Support for Space Resources Industry

LUXEMBOURG (Luxembourg Government PR – To promote Luxembourg as a European hub for the exploration and commercial use of space resources, the Ministry of the Economy conducted from April 9th to April 13th an economic mission headed by Luxembourg’s Crown Prince to the U.S. West Coast. The mission aimed to identify and develop new business opportunities and to promote the governmental SpaceResources.lu initiative that offers an attractive overall framework for space resource utilization related activities, including but not limited to the legal regime to provide private companies and investors with a secure legal environment as of the ownership of resources gathered in space.

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On-orbit Servicing Company Skycorp Signs Letter of Intent with Satellite Operator

skycorplogoSkycorp has signed a letter of intent with an undisclosed satellite operator for on-orbit servicing designed to extend the life of spacecraft , CEO Dennis Wingo announced at the NewSpace 2013 conference last week.

Wingo also announced the Skycorp Spacecraft Life Extension System (SLES), a servicing spacecraft designed to extend the life of a geosynchronous satellite by 10 years for one-third the cost of building and launching a replacement.