Spanish space technology company PLD Space has raised €78 million in funding to further its goal of launching the Miura 5 mission by the end of 2025.
This builds on the €42 million awarded in late January 2024 through PERTE (Strategic Project for Economic Recovery and Transformation), a new initiative bringing together the Spanish government, companies and research institutions to collaborate on important projects. This latest funding brings the total amount secured by the company to more than €170 million.
This aerospace company develops reusable rockets. It was founded in 2011 by Raul Torres and Raul Verdú. It is based in Elche (Alicante) and has technical facilities in Teruel, Huelva and French Guiana. The company has a team of more than 190 professionals.
“We are thrilled to be working with PLD Space on this exciting new platform,” said Raúl Verdú, co-founder of PLD Space.
“Fundraising our work was one of the most challenging tasks in developing the Miura rocket family.
Nonetheless, the successful launch of MIURA 1 has strengthened our position as an industry leader and our achievements have been recognized by investors and customers.
We are committed to making the first orbital launch of Miura 5 a reality, which would only be possible with the trust of our shareholders, customers, team and suppliers.”
Building Europe’s largest civil space technology infrastructure
Owning our own facilities shortens development time and improves cost efficiency.
The funds will enable the company to expand its facilities five-fold, from 169,000 square meters to 834,000 square meters, and its testing facility from 154,000 square meters to 800,000 square meters.
Construction will also begin this year on the launch pad at the CNES-owned European CSG spaceport in Kourou (French Guiana), which will cover an area of over 15,700 square metres and will host the first launches of MIURA 5.
PLD Space plans to open Spain’s first mass-production space rocket factory in mid-2024. The facility will also allow for the vertical integration of rocket launchers.
Together, these industrial facilities give PLD Space the largest civilian infrastructure in Europe for designing, building, testing and launching space rockets.
The company plans to increase its workforce.
Throughout 2025, the focus will be on testing and launching the first flight of Miura 5. The company plans to begin commercial operations in 2026, aiming to achieve 30 launches per year by 2030.
