Alicante, Spain-based PLD Space, a company specialising in the development of reusable space launchers, announced on Tuesday that it has secured an €11M loan from COFIDES, a state-owned finance company, through a co-investment loan from the Fund for Foreign Investment (FIEX).
To date, the company has raised €170M in funding.
Ezequiel Sánchez, PLD Space Executive President, states, “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.”
Fund utilisation
The company will use the funds to support the development of the launch site for its MIURA 5 rocket in Kourou, French Guiana.
This loan will help PLD Space invest in the MIURA 5 launch complex at CSG, which spans 15,765 square meters. The first MIURA 5 flight is scheduled for late 2025.
PLD Space plans to generate over 10 direct jobs and 50 indirect jobs in Kourou, with expectations for more as launches increase. The company also aims to collaborate with local suppliers to strengthen the supply chain.
The Spanish company will initially invest a total of €16M in the development, construction, and operation of this launch base, located at the CSG—Europe’s spaceport in Kourou—operated by the French Space Agency (CNES) and the European Space Agency (ESA).
The project was formalised at COFIDES headquarters in the presence of the Secretary of State for Trade, Amparo López Senovilla.
Amparo López Senovilla highlights, “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. This project underscores COFIDES’ position as a leading institution in managing public funds to support Spanish companies’ international investment ventures.”
PLD Space: Developing reusable rockets
Founded in 2011 by Raúl Torres and Raúl Verdú, PLD Space is an aerospace company that develops reusable rockets.
Currently, the company is working on creating MIURA launch vehicles and the LINCE manned capsule, making Spain one of the few countries capable of launching various payloads into space.
Last October, the company launched the first private European rocket, MIURA 1. The rocket has recovery and reuse requirements that only three companies in the space industry have achieved
The flight lasted 306 seconds in which MIURA 1 reached apogee at an altitude of 46 kilometres. The mission concluded with the rocket landing in the Atlantic Ocean.
With this launch, Spain becomes the tenth country in the world to have direct space capability.
Located in Elche, Spain, with additional facilities in Teruel and Kourou (French Guiana), PLD Space aims to make space more accessible.
The company employs over 250 people.
The investor
COFIDES is a state-owned trading company that manages state funds, as well as its resources and those of third-party institutions.
COFIDES’s mission is to support the internationalisation of the Spanish economy, attract foreign investment into strategic sectors in Spain, promote the impact economy, and contribute to global economic development.
COFIDES’s shareholders include the Spanish State, Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF-Development Bank of Latin America.
Ángela Pérez, COFIDES Chairperson, says, “COFIDES is committed to supporting companies that contribute to global technological transformation. 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.” She also thanked the Secretary of State for Trade for attending the formalisation of this project.
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