An innovative astrophysics and business initiative developed in Canary Islands has just begun to investigate the universe at the Observatory of the Teidein Tenerife. Among its scientific objectives are the dynamics of asteroids in order to know their trajectories and possible impacts with the planet, both on land and in water. It is the TTT project (Two-Meter Twin Telescope or Telescopio Gemelo de Dos Metros in Spanish), made up of two pairs of telescopes that achieved their first light on the 5th at the Observatory of the Instituto de Astrofísica de Canarias (IAC) in Izaña. It is a pioneering private initiative because it is supported by two of the instruments of the special tax regime of the Archipelago: the Reserve for Investments in the Canary Islands (RIC) and the Special Canary Islands Zone (ZEC). Science and economic diversification go hand in hand in these robotic telescopes that have started operations in one of the best observatories in the world.
The project consists of two types of telescopes with primary mirrors of 2 meters and 80 centimeters that will investigate many other events in the cosmos: supernovae -stellar explosions that can manifest themselves in a very notable way in space-, new exoplanets -or extrasolar plans- and associated systems or black holes. His scientific challenges also include the evolution and variability of activity cycles in stars similar to the Sun, detection and characterization of other minor bodies in the Solar System –besides the aforementioned asteroids– such as comets or early detection and monitoring of the population of objects near the earth or NEOs in its acronym in English.
A cutting-edge project
The Twin Two Meter Telescope is a cutting-edge scientific-technological project. Various entities have participated in the design and structuring of the financing that is supported by the RIC and the ZEC, the main pillars of the Economic and Fiscal Regime (REF) of the Islands. The project, in fact, has a decree of suitability of the Government of the Canary Islands and a binding report issued by the Canary Islands Tax Administration State Agency. It also has the support of Cajasiete and a group of qualified Canarian investors in the provinces of Santa Cruz de Tenerife and the palmswho at risk and venture have believed in the project from the beginning.
The principal investigator of the project for the financing and development of new business models, and a scientist at the IAC, Antonio Maudes, indicates that private investment is aligned with the Spanish Strategy for Science, Technology and Innovation 2021-2027. In particular, it indicates that “it seeks to create markets and develop bidirectional links between science and business in the Canary Islands, diversifying the local economy in a project that does not require public spending.” «The research has made it possible to design incentive mechanisms that make the aspirations of astronomers compatible with the objectives of various investors», he assures, to add: «The TTT is a work of years that would have been impossible without the help of many exceptional people and in particular the IAC astrophysicist, Miquel Serra-Ricart. Announcing first light in the Geminids, the annual meteor shower between Saint Lucia and Saint Daniel, has been especially beautiful.”
The company Light Bridges, promoter of the TTT, wanted to thank the collaboration of the Ministry of Finance of the Government of the Canary Islands, the State Tax Administration Agency in the Canary Islands, the Consortium of the Canary Islands Special Zone, the general technical secretariats of the Ministries of Science and the Treasury and the Instituto de Astrofísica de Canarias, pillars of this private project that will transfer a part of the observations to the IAC itself, as is the case with all private initiatives that are developed at the Teide Observatory.
financial project
In March of last year, the Governing Council declared the suitability of the financial project presented by Light Bridges for the execution and exploitation of a private network of professional robotic telescopes –the TTTs– in the astrophysical facilities at the top of Tenerife, so that investors interested in participating in the project could materialize funds from the RIC. The Reserve for Investments in the Canary Islands is a tax incentive that allows companies subject to Corporation Tax to reduce the tax base of the amounts that, in relation to their establishments located in the Canary Islands, they allocate from their profits to the reserve itself. This instrument was created with the intention of stimulating the investment effort charged to own resources, that is, to favor the self-financing of the investments of the companies that carry out their activity in the Archipelago.
It is also supported by the ZEC, the low tax zone created within the framework of the Canary Islands REF with the aim of promoting the economic and social development of the Archipelago and diversifying its productive structure. The TTT project foresees an investment of 15 million euros. The action has been formalized through an agreement between the company and the IAC, which gives up the land in exchange for 25% of the observation rights. The first telescopes have opened their eyes from Mount Teide to bring more knowledge to that great mystery that continues to be the universe.
