European Commission and European Investment Bank Group join forces to boost space sector investment with €200 million of financing

The Commission, in partnership with the European Investment Bank Group, is announcing €200 million of investments into the EU space sector, to support ground-breaking innovation in the industry. During the 12th European Space Conference in Brussels, the EIB and ArianeGroup are signing an agreement to confirm a €100 million contingent loan for the new Ariane 6 launcher programme. This deal is backed by the Investment Plan for Europe. In addition, the Commission and the European Investment Fund (EIF) are announcing the first ever EU-backed InnovFin Space Equity Pilot and the first space-focused tech fund supported under the pilot in Europe. The InnovFin Space Equity Pilot is a €100 million programme under InnovFin specifically dedicated to support the innovation and growth of European SMEs operating in the sector of space technologies.Commissioner for Innovation, Research, Culture, Education and Youth, Mariya Gabriel, said: “Our commitment to supporting space research and innovation reflects our ambition to place Europe in the forefront of space technology development. EU-backed financial instruments allow our financial partners, the European Investment Bank and the European Investment Fund, to invest in riskier areas and to crowd in other investments from the public and private sectors. For our European space researchers, innovators and entrepreneurs, getting access to finance is key for their success.” On these achievements, Commissioner for Internal Market, Thierry Breton,said: “The two announcements of today represent a game changer for Europe in the support of the European space industry. First, I strongly welcome the loan granted by the EIB for the Ariane 6 project, which is at the core of the objective to guarantee a European autonomous access to space. Second, with the InnovFin Space, we are sending a clear signal that space business in Europe is an attractive opportunity. This is a crucial initiative to support the development of European space start-ups so they can scale up.”  More information will be available in the press release.