Spanish launch vehicle startup PLD Space has taken a significant step towards the development of its Miura 5 rocket by securing a loan aimed at funding the construction of its launch facility in French Guiana. This financial boost comes through an 11 million euro loan ($11.6 million) from COFIDES, a Spanish financing agency, allowing the company to accelerate its ambitions within the competitive space industry.

On December 2, PLD Space announced that the funds would be utilized for developing launch infrastructure at the Guiana Space Center in Kourou, a premier launch site for aerospace activities. The overall investment in the launch facility is expected to amount to around 16 million euros, confirming the company's commitment to establishing a world-class site for its Miura 5 small launch vehicle, which is on track for its inaugural launch as early as late 2025.

"We appreciate COFIDES’ confidence in PLD Space," stated Ezequiel Sánchez, executive president of PLD Space. He expressed optimism about strengthening European space sovereignty and infrastructure through continued investment and innovation.

The site will be located at the now-available former Diamant launch pad, which was previously in use by the French space agency CNES. The facility offers 15,765 square meters for PLD Space to construct necessary structures including a launch pad, an integration facility, and a mission control center. This shared-use arrangement aims to enhance collaboration and efficiency among small launch vehicle developers operating in the region.

This funding announcement follows the company's rollout of a comprehensive roadmap for its development plans. The Miura 5 project is just the first step in a broader vision that includes creating a series of medium- to heavy-lift launch vehicles called Miura Next, and an ambitious crewed spacecraft named Lince.

Raúl Torres, CEO of PLD Space, previously indicated that the company has successfully raised approximately 155 million euros to finance Miura 5's development, but anticipates needing to secure at least 700 million euros for the additional development of Miura Next and the first iteration of Lince.

As companies around the globe compete to capture a share of the ever-expanding space market, PLD Space is poised to make a significant impact with its innovative designs and strategic investments. The eyes of the aerospace community will be on French Guiana as preparations for Miura 5 ramp up in the months and years ahead.