PLD Space secures euro 11 million loan to advance MIURA 5 launch site

PLD Space secures euro 11 million loan to advance MIURA 5 launch site
by Hugo Ritmico
Madrid, Spain (SPX) Dec 10, 2024

PLD Space, the Spanish aerospace company specializing in reusable space launchers, has obtained euro 11 million in financing from COFIDES to propel the development of its MIURA 5 rocket launch site at the Guiana Space Centre (CSG) in Kourou, French Guiana. The total planned investment for the project, encompassing development, construction, and operations, stands at euro 16 million. This strategic location is managed by the French Space Agency (CNES) in collaboration with the European Space Agency (ESA).

The financing was arranged through COFIDES' Fund for Foreign Investment (FIEX), which is designed to facilitate the international growth of Spanish businesses. This move strengthens PLD Space's efforts to deliver competitive, autonomous access to space for Europe while enhancing its space infrastructure.

PLD Space's MIURA rocket family supports a broad range of payload launches, from small satellites to larger payloads of up to 50 tonnes. The company has also set ambitious goals to enable Europe's first commercial manned spaceflights through its LINCE capsule by 2030.

The agreement for this funding was formalized at COFIDES' headquarters, with Secretary of State for Trade Amparo Lopez Senovilla in attendance.

Expressing gratitude, Ezequiel Sanchez, Executive President of PLD Space, remarked, "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."

Secretary Lopez Senovilla underlined the importance of public-private collaboration, stating, "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."

COFIDES Chairperson Angela Perez reiterated the institution's commitment to innovation, saying, "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."

The MIURA 5 complex at CSG spans 15,765 square metres and includes three core areas: a launch pad, preparation facilities, and a control centre. Preparations for the first flight campaign of MIURA 5 are scheduled to begin in late 2025.

PLD Space's plans also emphasize local economic contributions, with over 10 direct and 50 indirect jobs to be created initially in Kourou. These figures are expected to grow as the frequency of launches increases. The company is also working to establish a network of regional industrial suppliers to build a robust local supply chain.

Deloitte, KPMG, and Hogan Lovells played advisory roles in this transaction, supporting PLD Space and COFIDES with legal and financial expertise.