PLD Space Secures EUR 11 Million for MIURA 5 Launch Site Development

: Dec 2, 2024 - : 7:28 pm

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PLD Space, a Spanish company specialising in reusable space launchers, has secured an EUR 11 million loan from COFIDES to support the development of its MIURA 5 rocket launch site in Kourou, French Guiana. The company plans to invest a total of EUR 16 million in constructing and operating the facility, which is located at the Guiana Space Centre (CSG). This site is managed by the French Space Agency (CNES) and the European Space Agency (ESA).

The loan was granted through the Fund for Foreign Investment (FIEX), which aims to support the international expansion of Spanish businesses. This funding contributes to PLD Space’s goal of enhancing European space infrastructure and providing competitive and autonomous access to space.

PLD Space is developing the MIURA rocket family to accommodate a range of payloads, from small satellites to larger loads of up to 50 tonnes. The company also plans to introduce human missions by 2030 with its LINCE commercial manned capsule, potentially advancing European involvement in space exploration.

The agreement was formalised at COFIDES headquarters, with the Secretary of State for Trade, Amparo López Senovilla, in attendance.

“We appreciate COFIDES' confidence in PLD Space. Our mission is to provide Europe with a comprehensive payload launch capability, and this support inspires us to continue driving European space sovereignty while strengthening its strategic space infrastructure," said Ezequiel Sánchez, PLD Space Executive President.

"This initiative exemplifies the critical role of public-private collaboration in supporting strategic and innovative projects, which rely on institutional backing as an anchor investor during the early stages of technological development. This project underscores COFIDES' position as a leading institution in managing public funds to support Spanish companies' international investment ventures," said Amparo López Senovilla.

"COFIDES is committed to supporting companies that contribute to global technological transformation. PLD Space is a pioneer and a benchmark in Europe in the development of reusable rockets, and this collaboration reaffirms our commitment to innovation and the consolidation of European technological leadership," said Ángela Pérez, COFIDES Chairperson.

The MIURA 5 launch facility will cover an area of 15,765 square metres and include a launch pad, preparation zone, and control centre. The first MIURA 5 flight campaign is scheduled for late 2025.

In its initial phase, the project is expected to create more than 10 direct jobs and 50 indirect positions in Kourou, with employment opportunities anticipated to increase as launch activities expand. The company also plans to collaborate with regional industrial suppliers to establish a strong local supply chain.

Deloitte advised both PLD Space and COFIDES on the transaction, with KPMG providing financial advisory services and Hogan Lovells serving as legal counsel.

The-european-space-agency-esa / Pld-space / Miura-5 / Cnes /

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