PLD Space Receives Financial Backing from Spanish Government for Miura 5 Rocket

Insider Brief:

• PLD Space received 40.5 million euros ($43.8 million) from the Spanish government for Miura 5, a launch vehicle project.
• The funding is part of Spain’s PERTA Aerospace program, supporting post-pandemic economic recovery.
• Miura 5’s design was successfully reviewed by an independent committee, with commercial operations targeted for 2026.
• Image credit: PLD Space

PLD Space has been awarded a significant grant of 40.5 million euros ($43.8 million) from the Spanish government, earmarked for the development of the Miura 5 launch vehicle.

This investment stems from the Spanish government’s PERTA Aerospace program, designed to rejuvenate the nation’s aerospace industry. This initiative plays a crucial role as part of Spain’s broader post-pandemic economic recovery strategy.

The award, following the successful preliminary design review (PDR) of Miura 5, underscores the vehicle’s promising potential. This review, conducted by an independent committee, was a critical step in securing the funding, which is structured as a loan repayable over 10 years after Miura 5 begins commercial operations, anticipated in 2026.

“The technical decision in favor of PLD Space confirms that our technological development strategy is sound and is based on a solid business plan,” stated Ezequiel Sánchez, PLD Space’s executive president. This funding reinforces PLD Space’s leading role in Europe’s access to space. The company is set to expand its workforce significantly, from 165 to 300 employees by year-end, indicating strong future growth.

Sánchez pointed out the company’s efficient equity use, having developed the suborbital Miura 1 for 30 million euros. Currently, they are actively raising more funds, with “very good interest” from investors.

Further solidifying its stature, PLD Space was chosen for the European Flight Ticket Initiative, a collaborative project spearheaded by the European Space Agency and the European Commission. These developments, coupled with ongoing dialogue with the European Parliament, showcase PLD Space’s integral role in advancing European aerospace ambitions.

In conclusion, PLD Space’s recent funding for the Miura 5 project represents a significant leap forward in Spain’s aerospace endeavors and underscores the company’s growing influence in the European space sector.

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