Joint press release: EIB to provide financing under InvestEU to OQ Technology to develop satellite-to-smartphone connectivity

• Luxembourg-based OQ Technology secures €25 million EIB venture debt to expand its pioneering research and development in satellite communications technology.
• Funding supports a network of low-earth-orbit satellites, offering 5G coverage and connectivity for direct-to-device Internet of Things and smartphones.
• EIB financing is supported under the European Commission's InvestEU initiative.

The European Investment Bank will provide €25 million venture debt financing to Luxembourg-based satellite connectivity provider OQ Technology. The financing, supported by the European Commission's InvestEU programme, will support the ongoing research and development of its low-earth-orbit (LEO) satellite telecommunications technology, in line with international mobile communication standards.

OQ Technology is deploying a sovereign constellation of satellites to deliver affordable and reliable satellite connectivity to Europe and underserved regions around the world. In support of this, the EIB financing also funds the development and launch of over 20 software-defined, multi-band (S-band, C-band) satellites that will deliver direct-to-device (D2D) Internet-of-Things and smartphone services.

Back in 2019, OQ Technology was the first satellite operator in the world to demonstrate a cellular IoT connection from space and, most recently, in 2025, it was the first European satellite operator to demonstrate a direct-to-device emergency broadcast message to unmodified smartphones.

On a technical level, OQ Technology's constellation aims to provide 5G coverage for cellular IoT devices and unmodified smartphones (iPhone, Samsung, Google Pixel) using standardised 3^rd Generation Partnership Project (3GPP) Narrowband Internet of Things (NB-IoT) and 5G New Radio (NR) NTN technology via a LEO constellation of small satellites. This solution targets rural and remote areas not served by terrestrial networks and is ideal for low-power, low-data IoT applications. In addition, OQ Technology's satellite-based NB-IoT and 5G NR networks provide an extra layer of resilient, redundant connectivity. It safeguards operations against terrestrial network disruptions caused by natural disasters or adversarial attacks, all within fully European sovereign space and ground infrastructure.

The EIB's debt funding will allow OQ Technology to push the envelope and speed up the completion of its research and development, as well as the rollout of its space-connectivity network.

Background

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe's markets for venture debt, venture capital, guarantees and securitisations. In 2025 the EIB Group invested over €180 million in Luxembourgish projects.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It helps generate additional investments in line with EU policy priorities, such as the European Green Deal, the digital transition and support for small and medium-sized enterprises. InvestEU brings all EU financial instruments together under one roof, making funding for investment projects in Europe simpler, more efficient, and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who invest in projects using the EU budget guarantee of €26.2 billion. This guarantee increases their risk-bearing capacity, thus mobilising at least €372 billion in additional investment.

OQ Technology is a Luxembourg-based satellite operator pioneering 5G Non-Terrestrial Network (NTN) connectivity through its direct-to-device (D2D) global satellite network. The company is the first in Europe to operate a LEO constellation dedicated to D2D services, using its 60 MHz of MSS S-band spectrum rights to deliver secure, seamless, and standards-based connectivity to unmodified smartphones and IoT devices.

OQ Technology bridges the gap between terrestrial and space-based mobile networks, enabling real-time, 3GPP-compliant 5G NTN communications for governments, enterprises, and consumers worldwide.