PLD Space Secures €11 Million Funding

PLD Space, a pioneering aerospace company based in Spain, has successfully secured €11 million in funding from COFIDES, aimed at accelerating the development of its ambitious MIURA 5 rocket launch site at the Guiana Space Centre (CSG) in Kourou, French Guiana.

This funding is part of a larger €16 million investment plan that includes developmental, construction, and operational costs, marking a significant step forward for the company and European space endeavors.

The facility is managed by the French Space Agency (CNES) and closely collaborates with the European Space Agency (ESA).

Financing Arrangement and Purpose

The financing arrangement was established through COFIDES' Fund for Foreign Investment (FIEX), an initiative designed to support the international expansion of Spanish companies.

This development not only bolsters PLD Space’s aim of providing competitive, autonomous access to space for Europe but also enhances the continent's overall space infrastructure.

Versatile MIURA Rocket Family

PLD Space's MIURA rocket family is versatile, capable of launching a range of payloads from small satellites to large items weighing up to 50 tonnes.

Furthermore, the company has set audacious objectives, including plans to facilitate Europe's inaugural commercial manned spaceflights with its LINCE capsule by the year 2030.

Announcement and Industry Support

The formal announcement regarding the funding took place at COFIDES' headquarters, with notable attendance from Amparo Lopez Senovilla, Secretary of State for Trade.

Expressing gratitude for the financial support, Ezequiel Sanchez, Executive President of PLD Space, stated, "This backing reinforces our commitment to delivering comprehensive payload launch capabilities for Europe, and it inspires us to drive European space sovereignty forward while strengthening the strategic infrastructure necessary for these endeavors."

Secretary Lopez Senovilla emphasized the significance of public-private partnerships, asserting, "This initiative is a prime example of how collaborative efforts between public and private sectors can invigorate strategic and innovative projects.

Institutional support serves as a vital anchor during the crucial early stages of technological development."

Angela Perez, Chairperson of COFIDES, echoed these sentiments, noting PLD Space's pioneering role in developing reusable rockets in Europe, and reaffirmed the institution's commitment to fostering innovation and bolstering European technological leadership.

MIURA 5 Launch Complex

The MIURA 5 launch complex at CSG spans an impressive 15,765 square meters and is strategically divided into three main sections: a launch pad, preparation facilities, and a dedicated control center.

Preparations for MIURA 5's inaugural flight campaign are set to commence in late 2025, paving the way for a new era in European space exploration.

Economic Impact and Job Creation

In addition to advancing technological capabilities, PLD Space's initiatives are expected to significantly impact the local economy, with an anticipated creation of over 10 direct jobs and 50 indirect jobs in Kourou.

As launch frequency increases, these numbers are expected to expand further.

Moreover, the company is actively working on establishing a network of regional suppliers to enhance local economic contribution and build a resilient supply chain.

Advisory Support

Prominent firms like Deloitte, KPMG, and Hogan Lovells provided advisory services in this strategic transaction, ensuring that PLD Space and COFIDES were well-equipped with the necessary legal and financial expertise to navigate this landmark funding agreement.

Conclusion

As PLD Space steps into this new chapter, the future of European space exploration looks brighter than ever! Will MIURA 5 be the catalyst for a new era of private space travel? Stay tuned!