EU Invests €25M in Satellite-to-Smartphone Tech
The European Investment Bank (EIB) has committed €25 million in venture debt to Luxembourg-based OQ Technology to advance satellite-to-smartphone connectivity. This investment, supported by the InvestEU program, will accelerate the development of a low-earth-orbit satellite constellation designed for global coverage. The technology allows standard smartphones to connect directly to satellites in areas where traditional cellular towers are non-existent. This initiative is a key part of the EU's strategy to enhance digital connectivity and maintain its competitive edge in the global space economy. For citizens, this could eventually mean reliable mobile service in even the most remote parts of Europe.
EU invests €25M in satellite tech to enable smartphone connectivity in remote regions.