Planetary Resources debacle threatens Luxembourg’s New Space-friendly policy

by Peter B. de Selding

PARIS — The Luxembourg government’s refusal to address the failure of an asteroid-mining startup in which it invested at least 12 million euros ($15 million) has inevitably been caught up in Luxembourg’s post-election political struggle and put at risk Luxembourg's status as a venture-capital-type enterprise willing to bet on risky space business models. 

The case of Planetary Resources Inc. would stand out under any circumstances. The Redmond, Washington, company succeeded in raising some $50 million in several financing rounds, most of it coming in 2016.

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