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 3rd 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.