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The first phase of the PLD Space factory project includes building a hall of between 60,000 and 70,000 square meters to support serial production of the Miura 5 rocket and development of the Miura Next launcher family.
PLD Space closed a Series C equity round.
The approximately €350 million total secured by PLD Space does not include €169 million committed by the Spanish government as part of the European Space Agency’s European Launcher Challenge.
Private equity firm Nazca Capital participated in PLD Space’s Series C funding round.
The Series C financing is intended to support PLD Space’s transition to commercial operations and the expansion of its industrial and launch capabilities.
PLD Space plans to use the €180 million in funding to ramp up production capacity and prepare for the inaugural flight of its MIURA 5 rocket later this year.
PLD Space is a Spanish launch startup.
Through its investment in PLD Space Mitsubishi Electric will gain priority access to launch services using the MIURA 5 rocket.
PLD Space is finalizing testing of its Qualification Model 1 (QM1) in Teruel, Spain.
PLD Space’s €180 million total includes a €65 million extension to the original Series C round secured more than a year after the initial raise.
On 4 March PLD Space raised €180 million to fund an industrial-scale-up intended to enable a seamless transition to commercial operations from 2027.
PLD Space’s long-term roadmap aims for a flight cadence exceeding 30 launches per year by 2030 supported by reusable first-stage technology.
The memorandum of understanding was signed at PLD Space’s headquarters in the Parque Empresarial de Elche.
PLD Space, the president of the Generalitat Valenciana Juanfran Pérez Llorca, and the mayor of Elche Pablo Ruz signed a memorandum of understanding to build a new rocket factory in the Porta d'Elx industrial estate.
PLD Space expects to reach 1,000 employees once the new factory is operating at full capacity.
PLD Space currently employs 460 workers and plans to hire 90 more this year.
The Valencian regional government committed to designate the initiative as a Proyecto de Interés Autonómico and to assign PLD Space an exclusive manager to accelerate all permits and to create a joint monitoring commission.
Banco Santander acted as financial advisor to PLD Space in the Series C transaction.
PLD Space is a Spanish launcher startup.
PLD Space transitioned to full-scale production of its orbital vehicle following the MIURA 1 technology demonstrator flight on October 7, 2023.