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According to the Bank’s website, the project relates to the final phases of development of a low earth orbit (LEO) nanosatellite constellation to provide 5G IoT services for low bandwidth non-time-sensitive applications globally, notably in areas where terrestrial networks do not have coverage. The project will also include investments in a 4-satellite pilot constellation to test the system's full functionality end-to-end, and 40 additional satellites to validate the market-entry constellation launch and its operation at scale.
The main objectives are the deployment of satellite communication infrastructures targeting uncovered areas worldwide and European innovation. The project will also contribute to highly skilled job creation in Spain. It supports an emerging European leader in satellite communications, bringing narrowband internet-of-things services directly to terrestrial 5G IoT devices from space. The financing thereby develops the strategic EU "New Space" industry, in line with EU space policy and strategic autonomy goals. The company's network will serve a variety of industries globally, allowing to potentially connect to millions of currently unserved IoT devices in areas unreachable by terrestrial IoT networks. This will help businesses monitor their assets, in industries such as agriculture, fishing, maritime, oil and gas, wildlife, utilities, environmental, livestock, etc. Generally, for outdoor, non-time-sensitive, rural, or oceanic IoT applications. The project can also have a positive impact on the climate transition by allowing some industries to optimise consumption of fuel and natural resources.
The project includes RDI activities, which will be carried out in existing premises already approved for these purposes and are not expected to have significant environmental impacts. The manufacturing and launch of a satellite constellation will be provided by specialised and experienced suppliers that are outside the project scope, using existing facilities not requiring additional construction, and are not expected to have significant environmental impacts either.
Based on the environmental, climate and social information and based on the review of the likely significant environmental, climate and social risks and impacts and the mitigation measures and management systems in place, the project is deemed to have low residual environmental, climate and social risks and impacts.
A €30 million loan.
Sateliot is a Spanish startup building a network of over 100 small satellites with global reach that will connect devices in remote, previously unserved areas.
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | Sateliot | Client | - |
Contact: Maite Cordero
Email: m.corderomunoz@eib.org
Phone: +34 606 66 82 62
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