Greece has entered the radar of foreign companies developing space applications. The main cause is the €60 million project to develop a cluster of microsatellites for earth observation, whose tender attracted eight consortiums of Greek and foreign players, such as France’s Thales and Germany’s OHB. One of the entries in the competition for the Greek microsatellites came from Open Cosmos which has offices in Great Britain, Spain and Portugal. It is active in the analysis of satellite data which is useful for the fight against climate change and the green transition.

The company stands out because the second round of financing it carried out, in September 2023, raising approximately 46 million euros, had a Greek “colour”. The investors who invested in Open Cosmos include Ireon Ventures, which is the Venture Capital arm of Motor Oil Hellas. The management of the energy group is implementing, with a horizon of 2030, an energy transformation program of 4 billion euros that includes strengthening investments in renewable energy sources and the development of charging points for electric vehicles. At the same time, it promotes the IRIS project, which has chosen to finance the Innovation Fund with 127 million euros, for the capture of carbon dioxide from the hydrogen production unit of the Motor Oil refinery. Motor Oil’s green transformation goes hand in hand with the activity of Open Cosmos, which manufactures orbital observation satellites and through the platform it has developed, analyzes satellite data concerning the temperature of the planet, the level of the oceans, recording 54 climate variables (e.g. greenhouse gases, ozone).

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