PARIS — The European Commission on June 12 opened a three-year competition that will award 10 million euros ($12 million) to the company that best proves its ability to develop a low-cost, commercially viable small-satellite launch vehicle.

The European Innovation Council Horizon Prize, first announced in January, follows the commission’s assessment that Europe’s current small-satellite launch capability will not be enough to handle the future demand as multiple constellations of small satellites come to market.

Without naming Avio SpA’s . . .

To view the entire article, become a subscriber!