OQ Technology, a European satellite telecommunications company with a subsidiary in Greece, is participating in the National Microsatellite Program and has been financed by the Phaistos Investment Fund.
The company recently secured financing of 25 million euros from the European Investment Bank (EIB), with the aim of strengthening its investment plans and accelerating the research and development of its technology.
The funding, supported by the European Union’s InvestEU programme, will help develop and launch additional low-earth orbit (LEO) satellites, which will provide 5G coverage and direct-to-device (D2D) connectivity for Internet of Things services as well as direct connection to smartphones.
Based in Luxembourg, OQ Technology is the first company in Europe to successfully send an emergency message (emergency SMS) via satellite broadcasting technology to mobile phones. The test took place in Luxembourg and confirmed that it is possible to reliably transmit emergency messages via a satellite network to conventional smartphones, without modifications to the device.
This capability is considered particularly important for civil protection, especially in cases of natural disasters where terrestrial telecommunications networks may be severely damaged or set out of service.
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