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Changing the economics of space

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A new venture has been launched to 'change the economics of space' by providing rapid response, low cost and highly capable space missions.

Surrey Satellite Technology (SSTL) and EADS-Astrium have announced the creation of a new 'space engineering innovation hub' in conjunction with the University of Surrey in Guildford. Once established, the new hub will see the creation of a new research chair in space engineering at the Surrey Space Centre. The new chair will be jointly sponsored by the Royal Academy of Engineering and SSTL. The UK space minister, Lord Drayson, said: "Surrey is a shining example of innovation in the UK space sector, leading the world in pioneering new and more affordable approaches to space and its applications. I applaud the imagination and commitment of the academy and SSTL in their investment in the future of Britain in space." Sir Martin Sweeting, director of the Surrey Space Centre, added: "The Royal Academy's support for this important development of Surrey's academic research in space engineering is greatly appreciated and, together with the industrial support from SSTL, will enable Surrey to be even more innovative in changing the economics of space." SSTL has built and launched 32 small satellites and has eight more under construction carrying earth observation, navigation, communications and space science payloads. The Surrey Space Centre and SSTL are currently working on a UK led small satellite mission to the Moon in 2012.