Thursday, November 3, 2016

Planetary Resources Raises $27.75M From Luxembourg

Redmond-based asteroid mining startup Planetary Resources has finalized its deal with the government of Luxembourg, which will net the company $27.75M in funding, the company said today. The company said the 25 million euro investment (roughtly $27.75M US dollars) is part of a deal made with the Luxembourg Government and Societe National de Credit et d'Investissement (SNCI), which also involves opening up a European headquarters in the country. Planetary Resources--led by Chris Lewicki--said the new headquarters will conduct key research and development activities in support of its commercial asteroid prospecting capabilities, as well as support international business activities.