Saturday, August 23, 2025

Latest

Europe Stakes Its Claim in Space with Rival to Starlink

The European Union signed contracts on Monday for a €10.6 billion satellite project aimed at rivaling Elon Musk’s Starlink, with plans to launch 290 satellites by 2030 as concerns grow over space-based communications sovereignty.

The IRIS2 constellation will be built through a public-private partnership involving Luxembourg’s SES SA, France’s Eutelsat SA, and Spain’s Hispasat SA. The EU will invest €6 billion, pending member state approval, while the companies will contribute €4.1 billion and the European Space Agency €550 million.

The project significantly trails Starlink, which operates more than 6,000 satellites serving customers in about 100 countries. Musk’s advisory role in the incoming Trump administration has intensified European concerns about dependence on private satellite services.

“In times of war, we can’t afford to lose connectivity,” Kubilius said, after warning that Europe faces multiple threats, including Russian signal jamming.

“There is this narrative in the industry that Starlink has won and everybody else is dead, right? That’s not true,” SES Chief Executive Officer Adel Al-Saleh told Bloomberg. “They invest a lot of money so they are very difficult to compete with. However, every country and every nation wants to have sovereignty and independence.”

The 12-year contract allows participating companies to sell commercial services while reserving half the constellation’s capacity for government use. SES, which develops higher-orbit satellites than Starlink, will serve as the EU’s “anchor customer.”


Information for this story was found via Bloomberg, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

G Mining Q2 Earnings: Costing Gone Wild

Aya Gold Q2 Earnings: Production Slips Amid Ramp Up

i-80 Gold Q2 Earnings: Better, But Not Great

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

EU Threatens 30% Tariff If No Deal Is Reached By August 1

The EU has readied a €100 billion ($117 billion) counter-tariff package to mirror President Donald...

Wednesday, July 23, 2025, 10:03:00 AM

France Takes Center Stage: Macron’s Nuclear Offer Aims To Lead Europe’s Defense

Amid growing security concerns within the European Union, French President Emmanuel Macron has declared his...

Monday, March 3, 2025, 11:19:00 AM

EU Leaders Finally Agree on $858 Billion Bailout, $1.3 Trillion Budget to Rebuild Coronavirus-Stricken European Economy

Since the beginning of the coronavirus pandemic, the European Union has been dealing with a...

Wednesday, July 22, 2020, 06:54:00 PM

EU Takes On Big Tech With Landmark Digital Markets Act

The European Council and European Parliament have reached a provisional political agreement on the proposed...

Friday, March 25, 2022, 04:33:00 PM

Canada Aligning With Europe’s Military Circle Amid Tensions With US

Canada is reportedly on the verge of a landmark agreement to collaborate with the EU...

Thursday, March 20, 2025, 10:18:00 AM