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Rocket Factory Augsburg (RFA) is a German company and a competitor of the Spanish company PLD Space.
Mitsubishi Electric was the lead investor in PLD Space’s €180 million Series C funding round.
Mitsubishi Electric funded the PLD Space launcher in part to secure access to orbit.
PLD Space aims to conduct more than 30 launches per year by the end of the decade.
PLD Space is developing an upgraded launch vehicle called Miura Next intended to fly a test of a larger-capacity rocket by 2028 to meet milestones in the European Launcher Challenge.
PLD Space plans to rapidly grow its launch cadence with the new funding.
PLD Space is targeting 'semi-serial' production rates of Miura 5, aiming to produce four rockets this year and six rockets next year.
The two Miura 5 demonstration flights are intended to help PLD Space gain access to launch insurance to support commercial flights beginning in 2027.
Mitsubishi Electric’s support for PLD Space includes optional technical support and the ability to secure access to a new supply of launch capabilities to support satellite deployments across Japan and Asia.
PLD Space secured €180 million in Series C funding led by Mitsubishi Electric to scale production of its MIURA 5 orbital rocket.
Mitsubishi Electric committed to offering launches at market prices, which provides validation for PLD Space’s business plan without requiring strategic concessions.
PLD Space expects to launch its first Miura 5 demonstration flight this year and plans a second demonstration flight either this year or by Q1 2027.
PLD Space raised a €180 million Series C round, bringing the company’s total funding to over €350 million.
PLD Space plans to move to a larger production facility in 2028 to increase Miura 5 output into the double digits.
PLD Space expects development of its commercial launch site at the Guiana Space Center in Kourou, French Guiana to wrap up by July.
The Dual Vocational Training programs for PLD Space will follow the model applied with the Sagunto battery megafactory.
PLD Space closed a €180 million Series C funding round led by Mitsubishi Electric Corporation, which has committed to becoming a strategic customer.
The memorandum of understanding was signed at PLD Space’s headquarters in the Parque Empresarial de Elche.
The development of the Miura Next family follows a recent award of funds from the European Space Agency to PLD Space.
Pablo Ruz considers PLD Space one of the main drivers of talent and the economy in Elche and views the agreement as ensuring the company’s growth remains in the city.