Insider Brief:
- PLD Space has secured a total of 120 million euros in funding to date.
- The financing will contribute to ensuring the launch of the MIURA 5 mission which is set to take off at the end of 2025.
- The company plans to increase the size of its facilities fivefold, from 169,000 to 834,000 square meters. This expansion includes establishing the first serial space rocket factory in Spain, scheduled to open in mid-2024.
PLD Space, a Spanish aerospace company, has secured a total of 120 million euros in funding. The financing ensures many of the company’s objectives can be met including the launch of the MIURA 5 mission that is set to take off at the end of 2025.
Since its establishment, PLD Space has received 78 million euros in investment from shareholders, coupled with an additional 42 million euros from the Spanish Government’s Plan for Recovery and Transformation (PERTE) for a Spanish space launcher. The company’s investors include Aciturri and the Centre for the Development of Industrial Technology (CDTI) through its Innvierte program, with the latter providing both financing and strategic expertise.
According to Raúl Verdú, CBDO and co-founder of PLD Space, “The funding for our work has been one of the most difficult tasks in developing our MIURA family of rockets. Despite this, the successful launch of MIURA 1 has bolstered our position as leaders in the industry, an achievement acknowledged by investors and clients.”
To accommodate its growth, PLD Space will utilize the funds primarily for expanding its infrastructure and corporate structure. The company plans to increase the size of its facilities fivefold, from 169,000 to 834,000 square meters. This expansion includes establishing the first serial space rocket factory in Spain, scheduled to open in mid-2024. These facilities will also facilitate the vertical integration of launchers.
Additionally, PLD Space will enhance its testing capabilities by expanding its test facilities from 154,000 to 800,000 square meters. This move reinforces one of the company’s key strengths by providing in-house facilities for testing, thereby enhancing flexibility, reducing development times, and improving cost-effectiveness.
Construction will also commence in 2024 on the launch base at the European CSG spaceport in Kourou (French Guiana), which will be operated by CNES. This site, covering over 15,700 square meters, will host the initial launches of MIURA 5.
With these expansions, PLD Space will boast the largest private infrastructure in Europe for designing, manufacturing, testing, and launching space rockets.
On the corporate front, the company aims to increase its workforce to 300 employees by the end of the year. Currently, the team has grown from 161 to 194 professionals, with significant growth in production, the supply chain, and quality assurance departments.
Looking ahead, PLD Space’s focus will be on testing and launching the first MIURA 5 unit by 2025, with commercial activities expected to commence in 2026. The company aims to exceed 30 launches per year by 2030.
Image credit: PDL Space
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