PLD Space, a Spanish business, has raised 120 million euros in finance so far, which means it will be able to reach its next corporate and technological goals, which will culminate in the launch of the MIURA 5 mission at the end of 2025.
The company, which created history in October 2023 with the successful launch of MIURA 1, has received 78 million euros in investment since its founding from investors that have faith in its well-proven technology program and sound business plan. Furthermore, the Government of Spain is providing 42 million euros through the PERTE for a Spanish space launcher (1.5 million euros in July 2023 and 40.5 million euros at the end of January 2024).
Aciturri and the Centre for the Development of Industrial Technology (CDTI) through its Innvierte initiative, which offers both funding and strategic know-how, are examples of qualified institutional and industrial investors that fit PLD Space’s profile.
Raúl Verdú, the co-founder and CBDO of PLD Space, states, “Despite this, the successful launch of MIURA 1 has strengthened our position as leaders in the industry, an achievement acknowledged by investors and clients. We are working hard to accomplish the first orbital launch of MIURA 5, which would not be possible without the trust of our shareholders, clients, staff, and partners. PLD Space is a company that delivers on its promises.”
The majority of the funds raised will be used to support PLD Space’s corporate structure and infrastructure expansion. The company intends to expand its facilities from 169,000 to 834,000 square meters, a five-fold increase in size.
The corporation plans to open the first serial space rocket manufacturing in Spain in mid-2024 as part of this industrial expansion plan. Vertical integration of the launchers will also be possible thanks to the facilities. The facility that will produce the first MIURA 5 units and the company’s headquarters will be located at the industrial site, where construction is already underway. PLD Space will have 18,400 square meters of industrial space available to it in Elche (Alicante).
The second stage of the Spanish company’s expansion plan calls for expanding its test facilities from 154,000 to 800,000 square meters. By having its own facilities, PLD Space is strengthening one of its competitive advantages and providing flexibility in conducting testing campaigns, reducing development timeframes, and increasing cost effectiveness.
Construction on the launch base at CNES’s European CSG spaceport in Kourou, French Guiana, is also slated to start in 2024. The initial launches of MIURA 5 will take place at this location, which spans more than 15,700 square meters. PLD Space will own the biggest private space rocket manufacturing, testing, and launch capacity in Europe when these industrial sites are combined.
In terms of corporate strategy, the company is on track to reach its target of hiring 300 new staff members by the end of the year. There are currently 194 professionals on the team, up from 161 at the start of 2024. This expansion has mostly occurred in the domains of quality, supply chain management, and production.
The primary goal for 2025 will be to test and perform the first flight of the MIURA 5 unit. It is anticipated that the company would start doing business in 2026, with the ultimate objective of surpassing 30 launches annually by 2030.
