this week that current EU estimates put the cost of Iris² at around $6.6 billion USD . The EU hopes the proposed constellation could be operational by 2027.The European Union will provide $2.64 billion USD to the project with additional funding set to come from the European Space Agency and private investment.
"IRIS² establishes space as a vector of our European autonomy, a vector of connectivity and a vector of resilience," Commissioner for Internal Market of the European Union Thierry Breton wrote in aThe partnership also includes communications giants Deutsche Telekom, Hispasat, OHB, Orange, Hisdesat and Telespazio, who have said that the proposed megaconstellation will encourage startups in the European space sector to join the coalition.
Named after the figure from Greek mythology said to be the messenger of the gods to humans, the Iris satellite constellation will provide connectivity for the whole of Europe, including areas currently not supplied by broadband Internet. In addition to this, Breton said in his Nov. 2022 statement that IRIS² will also provide connectivity to the whole of Africa, using the satellites' North-South orbits.
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