Caption: (L-R) Andrius Kubilius, European Commissioner for Defence and Space; Omar Qaise, CEO and Founder of the OQ Technology; Robert de Groot, EIB Vice-President; Anne Calteux, Head of Representation of the European Commission in Luxembourg; Credit: Ali Sahib, Chronicle.lu

On Wednesday 25 February 2026, Luxembourg-based satellite connectivity provider OQ Technology received €25 million in venture debt financing from the European Investment Bank (EIB) to support its growth and technology development.

The press conference, held in the presence of Luxembourg's Minister of the Economy, SMEs, Energy and Tourism, Lex Delles, took place at the EIB Group Headquarters in Luxembourg-Kirchberg.

According to EIB the financing will help OQ Technology to develop its satellite technology and expand its services, with support from the European Commission’s InvestEU programme, which works to encourage investment in innovation and sustainable growth across Europe.

During the conference, CEO and Founder of the OQ Technology, Omar Qaise, said the financing from the EIB reflects strong confidence in the company’s vision and technology. He pointed out: “This funding allows us to deliver secure, affordable and standards-based connectivity to governments, industries and communities in remote and underserved regions worldwide, while reinforcing Europe’s position in non-terrestrial networks and the New Space sector.”

European Commissioner for Defence and Space, Andrius Kubilius, added that Europe needs to support fast-growing space companies like OQ Technology “to strengthen competitiveness, resilience and autonomy”.

Head of Representation of the European Commission in Luxembourg, Anne Calteux continued speaking about Europe’s space and tech industry future, she said: “Our goal is to build a strong European backbone of strategic industries, including space, so Europe stays resilient and competitive globally.”

EIB Vice-President, Robert de Groot, continued by highlighting the importance of targeted financing for strategic sectors, he said: “If we want Europe to become more autonomous, resilient and competitive, these projects matter, even relatively small loans like today’s make a real difference in building a strong and sustainable European economy.”

“For more than 40 years, the space sector has been an integral part of Luxembourg’s economic development. Through highly innovative technologies, a strong research base and a global outlook, Luxembourg has established itself as a recognised player in the European Space ecosystem,” noted Minister Dalles, underlining that the government will keep supporting this momentum.

During the Q&A session, Omar Qaise said the €25 million investment will help OQ Technology to accelerate satellite deployment, support new hires and advance direct-to-device connectivity.

The conference concluded with the official signing of the financing agreement, followed by a reception.