PLD Space raises €78M for mission launch and Europe’s largest private spacetech infrastructure

The Spanish spacetech company PLD Space has raised €78 million in funding to advance its goal of launching the MIURA 5 mission by the end of 2025. 

This comes on top of the €42 million awarded in late January 2024 through PERTE (Strategic Projects for Economic Recovery and Transformation). PERTE is a new initiative that brings together the Spanish government, businesses, and research institutions to collaborate on important projects. With this latest funding, the total amount secured by the company surpasses €170 million.

The aerospace company develops reusable rockets. It was founded in 2011 by Raúl Torres and Raúl 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. 

According to the co-founder of PLD Space, Raúl Verdú: 

“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.

We are working hard to achieve the first orbital launch of MIURA 5, which would not be possible without the trust of our shareholders, clients, team and suppliers.”

Creating the largest private spacetech infrastructure in Europe

By possessing its own facilities, the company reduces development times and improves cost effectiveness.

The funds obtained will help the company expand the size of its facilities by five, growing from 169,000 to 834,000 square metres and extending its test facilities from 154,000 to 800,000 square metres.

Construction work also will begin this year on the launch base at the European CSG spaceport in Kourou (French Guiana), which belongs to CNES. This site, covering over 15,700 square meters, will host MIURA 5’s first launches. 

PLD Space intends to inaugurate Spain’s first serial space rocket factory in mid-2024. The facilities will also enable vertical integration of the launchers.

Together, these industrial facilities mean that PLD Space will own the largest private infrastructure in Europe for designing, manufacturing, testing and launching space rockets.

On the corporate side, the company plans to expand its workforce..

Throughout 2025, the focus will be on testing and launching the first MIURA 5 unit on its maiden flight. The company expects to begin commercial activity in 2026 and aims to achieve 30 launches a year by 2030.