PLD Space of Spain accelerates 'Miura 5' development with a €31.2 million loan

 

 

 

PLD Space, Spain's innovative rocket startup, is accelerating its space development plans after securing substantial financial support.

On the 12th, PLD Space announced that it had received a total of €31.2 million in a syndicated loan from Banco Santander, EBN Banco, the Instituto de Crédito Oficial, and insurance company Cesce.

The secured funds will be primarily used for the development of the company’s next-generation rocket, 'Miura 5'.

Miura 5 is PLD Space's flagship project, with the first launch aimed for late 2025 at the Kourou launch site in French Guiana, South America.

PLD Space plans to begin full-scale commercial operations in 2026, targeting 30 launches annually by 2030. Through this, the company aims to establish itself as a leader in Spain’s space industry.

Raul Torres, co-founder and CEO of PLD Space, stated, "This funding is a crucial turning point for our rocket development," adding, "Through Miura 5, we will significantly improve space accessibility."

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PLD Space of Spain accelerates 'Miura 5' development with a €31.2 million loan