This financing, supported under the European Commissions’ InvestEU Programme, will enable OQ Technology to accelerate the development of its low-earth-orbit (LEO) satellites, offering 5G coverage and connectivity for direct-to-device Internet of Things and smartphones.

It underscores the EU’s commitment to strengthening European technological sovereignty, fostering innovation in space and telecoms, and improving connectivity in underserved regions. It also highlights Luxembourg’s continued growth as a leading hub for the space sector.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It helps generate additional investments in line with EU policy priorities, such as the European Green Deal, the digital transition and support for small and medium-sized enterprises.

OQ Technology is a Luxembourg-based satellite operator pioneering 5G Non-Terrestrial Network (NTN) connectivity through its direct-to-device (D2D) global satellite network. The company is the first in Europe to operate a LEO constellation dedicated to D2D services.