Space Applications Services receives 10 million euro investment

The Flemish investment company PMV has invested 10 million euros in Space Applications Services, a technology firm based in Zaventem specializing in aerospace and defense. This marks PMV’s first venture into the defense sector and serves as a precursor to the establishment of a dedicated Flemish Defense Fund.

The investment aims to accelerate the development of commercial lunar rovers and advanced defense systems. Space Applications Services plans to utilize the funds to transition its expertise in robotics, autonomous systems, and mission control software into commercial products. Key projects include the LUVMI-M lunar rover, scheduled for a moon landing in 2029, and various defense technologies such as maritime mine countermeasures and integrated drone management systems.

The company brings decades of experience from the International Space Station (ISS) and maintains a strategic partnership with Starlab, a commercial space station designed to succeed the ISS. The Flemish government intends for the upcoming Defense Fund to support companies working on dual-use technologies that serve both civilian and military purposes.