MOFFETT FIELD, CA. Deep Space Industries (DSI) congratulates Luxembourg’s Economic Ministry on their announcement today that they will be actively pursuing space resource utilization. Spaceresources.lu is a government-sponsored initiative, planning the exploration, use, and commercialization of valuable minerals and other resources from Near Earth Objects (NEOs), like asteroids. Luxembourg’s Spaceresources.lu initiative – to be conducted in cooperation with commercial partners – is destined to facilitate and support the creation of an entire new space industry.

Deep Space Industries Prospecting Spacecraft. Image Credit: Bryan Versteeg / DSI

Deep Space Industries Prospecting Spacecraft. Image Credit: Bryan Versteeg / DSI

Etienne Schneider, Vice-Prime Minister and Minister for the Economy of Luxembourg, stated: “As the future European hub in the space mining sector, we are definitely determined to become the first EU Member State with a dedicated legal and regulatory framework on using space resources. We further aim to support the long-term economic development of new, innovative activities in the space and satellite communications industries as a key high-tech sector for Luxembourg.”

DSI salutes the Luxembourg government’s unique foresight and their deep understanding of the future of the space industry. This initiative shows they are uniquely positioned to be a major player in the next space economy that is currently gaining traction around the world. DSI is proud to see the leadership of our friends and partners as they help pave the critical path to a future of unlimited resources.

“We are excited by this visionary initiative on the part of Luxembourg,” said Rick Tumlinson, Chairman of Deep Space Industries. “The future is built by the bold, and once again, as it did in telecommunications and other areas of technology, Luxembourg is showing the sort of boldness that moves the world forward.”

DSI, which is focused on collaborative efforts to harvest space resources, laid the groundwork for a European presence in the founding of its Luxembourg based Deep Space Industries Europe subsidiary last year. The company, whose first test spacecraft is due to fly in the next year, already has active partnerships with Canadian, Dutch, Latvian, and Luxembourg based teams. It is also marketing its expertise and technologies as part of a broadly based business plan, designed to achieve its long-term goals while providing ongoing opportunities.

“We look forward to further developing our partnership with the government of Luxembourg, and the other nations of Europe to build a reliable supply chain of in-space resources and technologies,” said DSI CEO Daniel Faber. “This will be a global effort, and DSI will continue to help build a community of responsible, diligent and innovative partners to make it a reality.”

This announcement, coupled with the recent passing of the SPACE Act in the United States, are important milestones in developing a new economic paradigm, where humanity is no longer limited by the resources of Earth. Deep Space Industries continues to work with its international partners to develop the regulations, economic systems and market interest that will build an entirely new industry in the coming decade.

“There are moments when the world changes,” concluded Tumlinson. “By joining the US and private citizens and companies who are moving outwards into space, Luxembourg is making this time in history one of those moments. The citizens of Luxembourg should be proud.”

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