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The competition heats up: Following through in its commitment to invest funds in futures space industries, the government of Luxembourg has signed an agreement with Planetary Resources in which it takes 49% equity share of the company.
It is clear that Luxembourg’s goal is to make itself the center of the world for all future space-based industries, and this quote illustrates this:
The Luxembourg government investment adds a powerful incentive to relocate some of this development to Luxembourg before Ceres satellite production is too solidly anchored on the U.S. West Coast. In May, health-care and agricultural research giant Bayer of Monheim, Germany, and Planetary Resources announced they had signed a memorandum of understanding under which Bayer “intends to purchase data from Planetary Resources to create new agricultural products and improve existing ones. The collaboration will be part of the Digital Farming Initiative at Bayer.” Schneider has said the spaceresources.lu program would distinguish itself from U.S.-based efforts by being more international. Companies setting up shop in Luxembourg need not prove Luxembourg-based majority ownership to receive the full suite of regulatory advantages.