• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
Techspace
Europe

The European Space Agency committed to zero space junk. Swiss startup ClearSpace is already on it

By
Anna Heim
Anna Heim
Down Arrow Button Icon
By
Anna Heim
Anna Heim
Down Arrow Button Icon
December 6, 2024, 8:59 AM ET
Luc Piguet, ClearSpace CEO and cofounder.
Luc Piguet, ClearSpace CEO and cofounder.ClearSpace
Add Fortune on Google for similar content.

Sustainability has become a goal not only on Earth, but also in space, with increased awareness of our responsibility to clean up after ourselves in the solar system too. If ignored, we’ll leave future generations with thousands of obsolete satellites and other space debris orbiting Earth, posing a direct danger to any new satellites or missions they may want to launch.

Recommended Video

While the European space industry has been largely grounded since 2022, when a technical issue forced its next-gen Vega-C rocket to be painstakingly redesigned, Elon Musk’s SpaceX has led the rest of the world with hundreds of launches.

Swiss entrepreneur and ClearSpace founder Luc Piguet is working to regain Europe’s space leadership, albeit from an environmental angle. Piguet believes that as space activity accelerates, the urgency to address debris removal must also accelerate to prevent entire orbital regions from becoming unusable due to the risk of collisions.

At its peak, this orbital danger is known as the Kessler syndrome, in which space debris collisions would cascade and increase the likelihood of further crashes. This is a genuine possibility. “Without proper management,” Piguet said, “the debris will only multiply, creating a feedback loop where the risk of collision increases exponentially.”

The fact that this scenario was theorized in the 1970s by two NASA scientists shows that the U.S. space agency is highly aware of the risks of space pollution, but it isn’t the only one: The European Space Agency (ESA) will follow a ‘Zero Debris approach’ to significantly limit the production of debris in Earth and Lunar orbits by 2030 for all future missions and activities.

ClearSpace

That’s where ClearSpace comes in. With support from ESA’s Switzerland-based business incubation center, the company founded in 2018 is now on track to develop a robotics-based solution for removing large, complex debris from orbit.

This makes ClearSpace akin to Astroscale, the Japanese company that raised some $383 million in funding to remove space debris. The two startups differ in their technical approach, with ClearSpace basing itself on a modular robotic platform, but their origin is arguably an important difference.

While Piguet is convinced that there’s plenty of space (sic) for multiple players in this industry, he told Fortune that being European allows ClearSpace “to work closely with the ESA and other European partners on regulatory and funding matters, which can give us an edge in the European market.” 

This also resonated with investors; in 2023, ClearSpace raised a €26 million Series A round of funding led by Swisscom Ventures and OTB Ventures, an Amsterdam- and Warsaw-based venture capital firm which is itself backed by the European Investment Fund and NATO Innovation Fund. OTB is also an investor in Kurs Orbital, an Italy-based satellite servicing startup founded by the former head of Ukraine’s space agency.

Beyond these European endeavors, though, the effort to ensure space remains clean is global, and so is ClearSpace. With teams in Germany, Luxembourg, Switzerland, and the U.K., the startup has been collaborating with the U.K. Space Agency, which recently awarded it a new contract following successful completion of a previous phase. Meanwhile, Astroscale has several foreign subsidiaries to collaborate with various governments and organizations.

Good relationships with prospective customers are essential; there aren’t many, and the journey isn’t without challenges. Earlier this year, ClearSpace had to pivot its ClearSpace-1 mission for the ESA due to a collision of the removal target with untraceable debris; the parties agreed to change the target, which will also make for a more cost-effective approach.

For ClearSpace, this meant reorganizing its team, making 2024 “an intense year for the company,” Piguet said. He and his cofounder Muriel Richard, an aerospace industry veteran, believe that the company is now on track to demonstrate its capability in active debris removal by successfully launching its ClearSpace-1 mission.

However, this is just the beginning. Just like sustainability in other industries has meant more waste reduction in the first instance, ClearSpace wants to prevent debris thanks to a range of in-orbit services such as satellite servicing, refueling, and life extension. This was what brought Piguet to this problem in the first place, as he realized that space debris was “a side effect of an industry that does not have servicing embedded in its economic model.”

Unlike his cofounder, Piguet didn’t come into this field with a deep background in space. But as an entrepreneur with a belief in space’s immense potential for humanity, he saw the necessity to make sure it remains clean for future generations. “Our aim,” he said,” is to foster a worldwide movement for change, developing products and services that operators across the globe can and will adopt, ultimately benefiting the entire space industry.”

About the Author
By Anna Heim
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Tech

kalshi
CryptoKalshi
Kalshi’s ‘chronically online’ war room figured out World Cup virality — and realized AI might be bringing back the monoculture
By Nick LichtenbergJuly 21, 2026
4 hours ago
fl
North AmericaElections
Trump-backed hopeful to succeed DeSantis unveils plan to protect local water, electricity from data centers
By Matt Brown and The Associated PressJuly 21, 2026
4 hours ago
Bolt CEO Ryan Breslow
CommentaryHuman resources
The CEO who fired HR was right. About the wrong thing.
By KeyAnna SchmiedlJuly 21, 2026
5 hours ago
‘We all failed’: Former Disney CEO Michael Eisner on Hollywood, video games and the big question of IP
Arts & EntertainmentDisney
‘We all failed’: Former Disney CEO Michael Eisner on Hollywood, video games and the big question of IP
By Joshua HongJuly 21, 2026
5 hours ago
Jersey Mike's Subs restaurant.
C-SuiteCFO Daily
Jersey Mike’s tests how far investors will stretch on restaurant IPO valuations
By Sheryl EstradaJuly 21, 2026
5 hours ago
all five founders of SkyPilot pose for a photo
Startups & VentureTerm Sheet
SkyPilot, from Databricks’ cofounder, raises $20M to be the Switzerland of AI compute
By Lily Mae LazarusJuly 21, 2026
5 hours ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
22 hours ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
1 day ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
3 days ago
Current price of silver as of Monday, July 20, 2026
Personal Finance
Current price of silver as of Monday, July 20, 2026
By Joseph HostetlerJuly 20, 2026
1 day ago
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
Retail
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
By Sasha RogelbergJuly 20, 2026
1 day ago
The Treasury is walking a tightrope on U.S. debt by relying so much on short-term rates that are at the mercy of a suddenly very hawkish Fed
Economy
The Treasury is walking a tightrope on U.S. debt by relying so much on short-term rates that are at the mercy of a suddenly very hawkish Fed
By Jason MaJuly 20, 2026
24 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.