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Clifford Chance advised the European Investment Bank on its first direct financing for a start-up in the European "New Space" sector, Spire Global.

9 December 2020

Clifford Chance advised the European Investment Bank on its first direct financing for a start-up in the European "New Space" sector, Spire Global.

Clifford Chance advised the European Investment Bank on its first direct financing for a start-up in the European "New Space" sector, Spire Global.

The EUR 20 million financing will back Spire Global 's capex and R&D activities to further develop Spire’s constellation of small satellites and high-quality maritime, aviation and weather space data and analytics. It will also back the development of new software applications for customers and create high-skilled jobs in Luxembourg and the EU. 

The transaction follows the European Investment Bank’s commitment to strengthen support for European space start-ups and cooperate with space agencies such as the European Space Agency (ESA). It is backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.

The cross-product and cross-border Clifford Chance team was led by counsel Stefanie Ferring and partner Steve Jacoby and comprised associates Holger Nõmm and Tjasa Perger (Banking & Finance, Luxembourg), partner Anand Saha and associate Katerina Papacosma (Corporate New York) as well as Daniel Winick and associates Thomas Mc Gowan and Jaime Turcios (Banking & Finance, New York).