Brussels, December 16, 2024 – The European Commission has officially launched the Iris² satellite network, marking its most ambitious space program in a decade with a total investment of €10.6 billion (approximately $11 billion).
The initiative aims to provide high-speed connectivity to European governments and citizens, competing directly with Elon Musk's Starlink. Iris² will consist of 290 satellites in low and medium Earth orbits, with operations expected to commence in early 2030.
Funding for the project will be split, with 61% sourced from public funds and the remainder from the SpaceRise industrial consortium, which includes Eutelsat, Hispasat, and SES. Eutelsat is the largest private investor, contributing €2 billion.
The project is designed to ensure secure and sovereign communication services for EU member states while revitalizing the European space sector. Timo Pesonen, Director General of Defense, Industry, and Space at the European Commission, emphasized its strategic importance for the EU's autonomy and defense capabilities.
SpaceRise has a 12-year concession to design, build, and operate the network. A significant portion of the satellite capacity will be dedicated to commercial broadband services, while a substantial part will support secure government applications, such as crisis management and surveillance.
Josef Aschbacher, Director General of the European Space Agency, stated that the program would enhance innovation in the European space industry, boost competitiveness, and create new jobs.