The European Union is launching a constellation of internet satellites to rival Elon Musk’s Starlink, with a €10.6 billion deal signed to deploy nearly 300 satellites by 2030. The project, Iris², aims to enhance digital sovereignty by providing secure communication services to governments.
Initially estimated at €6 billion, the program cost increased by 76% after negotiations. SpaceRise, an industry consortium including Eutelsat and OneWeb, will cover the remaining 39% of costs. This move follows the bloc’s efforts to bolster its digital resilience and security.
Meanwhile, Starlink already boasts over 4 million subscribers and has partnered with major companies such as Royal Caribbean and United Airlines. The EU’s new initiative seeks to compete with this established player in the satellite internet market.
Source: https://techcrunch.com/2024/12/16/eu-signs-11b-deal-for-sovereign-satellite-constellation-to-rival-musks-starlink