Invested by Europe

João Falcão Serra leads industry and finance research at the European Space Policy Institute in Vienna. He explains how he tracks global investment in space companies and why European private funding is at record levels. He looks at the forces behind the boom, including defence demand, falling interest rates and the SpaceX IPO hype, and also points to a growing spread of investment in smaller economies like Finland, Bulgaria and Poland.

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Rockets and satellites get the headlines. But what makes them work? Here are five technologies you've probably never heard of, but they're set to have a big impact on how rockets work and, even, on your electricity bill. We'll hear from the founders of companies working on: the pressure vessels inside every rocket and satellite; a green propellant to replace hydrazine, which can be stored for ten years and restarted in under thirty seconds; the aerospike engine, theoretically superior for sixty years and never yet demonstrated in flight; onboard software that lets satellites decide for themselves what to photograph...

Tomas Jonsson leads the Cassini team at the European Commission's Directorate-General for Defence Industry and Space. It's the EU's space entrepreneurship programme. He describes how Europe's space sector has changed since 2019, with many more companies, real commercial growth and significant private investment. He also talks about the careers the sector offers beyond engineering, and about how companies in Poland, the Czech Republic, Scandinavia and the EU's smaller countries are catching up to the traditional big space economies of Germany, Italy and France.

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AIKO founder Lorenzo Feruglio explains how automation lets satellites make their own decisions, reducing waste and boosting profits (because right now only 10% of the data gathered by a satellite is monetised). An interview about software, artificial intelligence and...fixing a problem that less original thinkers didn't even know existed.

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Europe's space investment hit a record €1.4 billion in 2025. The first half of 2026 already surpassed that amount. We look at the grants, equity, venture debt and, for the first time, commercial bank lending pushing space up the financial agenda. You'll hear from venutre capital investors at Warsaw's OTB Ventures and the European Investment Fund, bankers at the European Investment Bank, and the European Space Policy Institute analyst who tracks where the money goes. Sateliot founder Jaume Sanpera explains why an EU loan is "much more than money". He also names the financial layer Europe needs to build next.

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Space is Europe's "invisible infrastructure". Giancarlo Granero, who leads on the space economy at the European Commission, explains how the European Union's Cassini initiative turned €200 million into a venture ecosystem that raised €1 billion last year.

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From SpaceX engineer to space investor: Bulent Altan, one of SpaceX's first hires, now leads Alpine Space Ventures. Backed by the European Investment Fund, Alpine Space's first fund invested in some of the amazing companies you've met in this series, like Blackwave and Reflex Aerospace. Bulent talks about deep-tech investing and why Europe needs its own space industrial base.

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Space has always been strategic, but Russia's invasion of Ukraine made that fact impossible to ignore. We explore how satellites became a frontline of modern warfare, why Europe's dependence on non-European networks is a vulnerability it can no longer afford, and what the continent is doing to protect its assets in orbit. From attacks on commercial satellites to the race to build sovereign European constellations, this is the story of how Europe is learning to defend itself out in space.

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The European Commission owns and runs Galileo and Copernicus, the space systems behind everything from your morning weather forecast to flood rescue operations. We hear from Lorena Boix Alonso, Deputy Director General for Space at the European Commission, about why space is now critical infrastructure, why Europe's strategic autonomy depends on it, and why the new space race is nothing like the old one. With the geopolitical landscape shifting fast and investment urgency growing, Lorena makes a good case for space as the single best argument for why Europe works better together.

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Space is important for lots of economic and strategic reasons. But sometimes, while I've been researching this series, I just had to shake my head in wonder and say, "Wow." Because the technology is so amazing. Omar Qaise had a moment like that. He grew up in Baghdad dreaming of space, and went on to build OQ Technology, a Luxembourg-based company putting 5G directly into space and connecting ordinary smartphones and IoT devices to satellites the size of a shoebox, no special hardware required. In this episode, we visit Omar to hear how a boy from Iraq became the founder...

Satellites have become the invisible backbone of modern life, as essential as electricity or running water, yet almost entirely unnoticed. We explore how the next generation of satellite infrastructure is being built in Europe, connecting space to the phone in your pocket or the Internet of Things devices used by farmers in their fields. Featuring company founders and the institutions backing them, this is the story of how pressing a button in a small office in a European village changes the direction of a satellite in. space.

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This was honestly one of the most fascinating interviews I did for this entire series. Walter Ballheimer founded Reflex Aerospace on a bold idea: the biggest problem in the satellite industry isn't getting to space, it's how long it takes. His Berlin-based company builds high-performance satellites in 12 to 18 months, when the rest of the industry needs three to five years. He's genuinely one of the most clear-sighted and original thinkers in the European space sector. Don't miss this episode.

From the shifting balance between commercial and defence demand, to what it took to close the largest Series...

Come with us to the factory floor of PLD Space in Spain, where hundreds of engineers and technicians are putting together a rocket in a building that used to make shoes. We look at Europe's plan to launch more of its own rockets in a market now dominated by the US and meet the companies who aim to get that job done.

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The European Investment Bank financed 100 billion euros in new projects last year, and it's putting that financial muscle behind Europe's space industry. Robert de Groot, the vice president of the EU's financing arm responsible for space, explains his aim for an autonomous and resilient EU space sector and how the European Investment Bank is backing it.

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When Elon Musk founded SpaceX, he set off a chain reaction that reshaped the global space industry. A former SpaceX engineer turned European investor, a rocket founder in a converted shoe factory in Spain, a banker at the European Investment Bank and the Inspector-General of the European Space Agency explain how Europe is responding.

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Raul Verdú, co-founder of PLD Space in Elche, Spain, tells the story of how two amateur rocket enthusiasts started from scratch in a university cafeteria and spent 15 years building the technology, team, and credibility to develop their Miura 5 rocket. Verdú calls on European governments and agencies to back their own launchers with real contracts. With ambitions to reach 30 launches per year and increase payload capacity from half a tonne to 13 tonnes, Verdú sees PLD Space as the foundation of a new European industry that needs to rediscover the value of skilled technical workers, not just engineers and academics.

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Dr Josef Aschbacher, Director General of the European Space Agency, explains how Europe's genius for innovation is helping close the gap in space and specifically space investment with the US, and why that's so important for every aspect of daily life, as well as Europe's security and defence.

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Europe owns two of the world's most advanced space systems, Galileo and Copernicus, but it spends just 10% of what the US invests in space. Find out why that has to change. Experts from the European Space Agency and the European Commission explain how satellites shape daily life in ways most people never notice. We also look at how Russia's invasion of Ukraine exposed Europe's dependence on foreign rockets, and why closing the investment gap is a strategic imperative.

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Euros in Space is the second season of Invested by Europe, from the European Investment Bank. It explores the people, the companies, and the money behind Europe's space economy. Hear from the rocket builders, satellite makers, investors, and institutions working to secure Europe's place in the new space race. Subscribe so you don’t miss any of our 30 episodes.

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In 1986, when Spain joined the European Union, it was still emerging from decades of political and economic isolation. Could Spain take its place alongside the great European economies? In this episode, we explore how the European Union helped Spain anchor its democracy, modernise its economy, and build a future its people could believe in. We'll also look at what Spain gave back in return.

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En 1986, cuando España se incorporó a la Unión Europea, aún estaba dejando atrás décadas de aislamiento político y económico. ¿Podría España hacerse hueco entre las grandes economías europeas? En este episodio analizamos cómo la Unión Europea ayudó a España a modernizar su economía y a construir un futuro mejor para sus ciudadanos. También exploramos lo que España ha contribuido a la Unión Europea.

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Deep tech is often described as the opposite of conventional or “shallow” technology. Rather than focusing on incremental improvements in software or business models, deep tech is driven by scientific breakthroughs aimed at solving real-world problems that persist over time. 

In this episode of Invested by Europe, Jussi Hätönen, head of European Innovation Council Fund investments at the European Investment Bank, explains: 

Gasoline prices are rising, and while drivers can switch to electric cars, other sectors face fewer alternatives. Aviation, shipping and heavy transport still rely on liquid fuels — and electrification is not yet a realistic option for many of these fleets. 

In this episode of Invested by Europe, Tiago Lopes, a senior engineer at the European Investment Bank, explains: 

Cleantech is no longer a niche sector. It is at the heart of a full‑scale industrial transformation, shaping how Europe produces energy, decarbonises industry and builds a more resilient economy. 

In this episode of Invested by Europe, Sofia Viola, an investment officer at the European Investment Bank, explains: 

Biotechnology is one of Europe’s most important — and most challenging — innovation sectors. From vaccines and drugs to medical devices and digital medicine, biotech underpins Europe’s health systems, competitiveness and economic sovereignty. 

In this episode of Invested by Europe, Antoine de Lachaux, head of the life science and biotech unit at the European Investment Bank, explains: 

Critical raw materials are everywhere — in your phone, in solar panels, in wind turbines, and in the batteries that power the energy transition. But where do these materials come from? Why does Europe depend so heavily on them? And how can we build more secure, sustainable, and diversified supply chains? 

In this episode of Invested by Europe, Lerato Kotelo, critical raw materials specialist at the European Investment Bank, explains: 

Nuclear fusion is the process that powers the sun. If it can be made to work efficiently on Earth, it could reshape global energy systems — offering a clean, abundant and stable source of power.

In this episode of Invested by Europe, Franz Derler from the European Investment Bank explains how fusion works, why even a small amount of mass can produce an enormous amount of energy, and why fusion has so far only been achieved at laboratory scale. He discusses the two major technological approaches — magnetic confinement and laser fusion — and the rapid rise in private investment, with mo...

Quantum computing is not about making today’s computers faster. It represents a fundamentally different way of solving problems — one that could unlock breakthroughs that are currently out of reach.

In this episode of Invested by Europe, Nikolay Dimov, a European Investment Bank investment officer, explains what makes quantum computing different from classical computing, why its impact on everyday life will be indirect but significant, and how it could accelerate innovation in areas such as medicine, energy and advanced materials.

The discussion looks at quantum from an investment and strategic perspective: why early, patient capital matte...

Climate investment is often seen as a cost. But it’s a powerful driver of competitiveness, resilience and long‑term growth for Europe.

In this episode of Invested by Europe, Fotios Kalantzis, senior climate economist at the European Investment Bank, explains why investing in climate is not only about cutting emissions. Climate action reduces Europe’s dependence on fossil fuel imports, improves energy efficiency, creates jobs and strengthens economic security.

The conversation explores how the green transition opens new markets and how public investment and EU climate policies are driving demand for clean energy solutions. We also...

Space is often associated with rockets and missions to the Moon. But space technology underpins many of the services we rely on every day — from navigation and weather forecasting to communications, agriculture and secure financial transactions.

In this episode of Invested by Europe, Pierre Limouzin, senior investment officer at the European Investment Bank, explains why space has become a strategic sector for Europe’s economy and security. He discusses how falling launch costs and new technologies have transformed the industry, what makes investing in space different from other tech sectors, and why strengthening Europe’s space ecosys...

Climate action is about more than cutting emissions. Even if mitigation succeeds, societies and economies will continue to face climate risks for years to come. Climate adaptation is how those risks are managed.

In this episode of Invested by Europe, we speak with Roman Röhrl, climate change specialist at the European Investment Bank, about what climate adaptation really means and how it works in practice. The conversation explores how adaptation helps protect people, infrastructure and economic activity from climate hazards such as flooding, heatwaves and drought.

The episode looks at why adaptation n...

Across Europe, affordable housing depends on more than construction alone. It requires long‑term finance, clear rules, access to land and careful urban planning.

In this episode of Invested by Europe, we speak with Grzegorz Gajda, Senior Urban Specialist at the European Investment Bank, about what makes affordable housing work in practice. Drawing on experience from across Europe and beyond, the conversation looks at how governments, cities, investors and institutions can work together to increase supply, keep housing affordable and build sustainable urban communities.

The episode explores how long‑term funding mechanisms, effective regu...

Explore how innovation in construction materials, digital tools and industrialised processes could transform how Europe builds—and who works in construction. 

The conversation looks at why construction has changed so little for decades and how technologies such as digital twins, Building Information Modelling (BIM), robotics and artificial intelligence are reshaping design, production and collaboration. Industrialised, factory-based construction offers major gains in precision, cost control, waste reduction and worker safety. That will make construction attractive to young people and help solve the industry’s labour shortage. 

The episode argues for a life-cycle approach to buildings...

Social investment shapes everyday life in Europe — from education and healthcare to childcare and housing. In this episode of Invested by Europe, we explore why investing in social infrastructure is not just about social protection, but a key driver of inclusive economic growth. 

The podcast looks at how social investment helps more people participate in the labour market, boosts productivity and supports ageing societies. We examine gaps in childcare provision, the housing affordability challenge and Europe’s growing skills shortages — and why addressing them could significantly strengthen Europe’s economy. 

The episode also explores...

Europe’s security environment is changing fast — and investment decisions made today will shape its resilience for decades. In this episode of Invested by Europe, we examine why security and defence is such an urgent priority and what European strategic autonomy means in practice. 

The podcast explores how Europe is closing long-standing capability gaps through coordinated investment, joint procurement and new financing tools. Innovation emerges as a central theme, spanning areas such as cybersecurity, space, artificial intelligence and advanced electronics — many of them dual-use technologies with both civilian and military applications. 

The episode also looks a...

Explore why accelerating energy efficiency renovations is one of the fastest and most effective ways to cut energy demand, reduce emissions and lower energy bills.

The podcast looks at why renovation rates remain too low, what’s holding back households, businesses and cities, and how investment and public support can help unlock action. We also examine the role of digital tools and artificial intelligence in planning renovations and operating buildings more efficiently.

The episode explains how energy efficiency supports the rollout of renewable energy, improves comfort for citizens and delivers more predictable energy co...

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