A recent development in the area of space technology has revealed that a consortium of Spanish banks, including Banco Santander and EBN Banco, have extended a substantial loan of 31.2 million euros to finance PLD Space’s Miura 5 space launch initiative. This endeavor, which has also received involvement from the Instituto de Crédito Oficial (ICO), is aimed at facilitating the company’s ambitions in the sector.
The funds provided through this syndicated loan are specifically allocated for the development of the Miura 5 smallsat launch vehicle, including enhancing technology, expanding industrial capabilities, and erecting the necessary infrastructure. With a view towards progress, PLD Space has set its sights on conducting the first Miura 5 launch by the end of 2025 from the esteemed spaceport located in French Guiana.
In recognizing the uniqueness of this financial arrangement, PLD Space has highlighted the scarcity of bank financing available to emerging space enterprises in Europe. This milestone funding forms an integral component of Spain’s PERTE Aerospace plan, poised to amplify investment within the nation’s aerospace industry.
It is worth noting that PLD Space’s Executive President, Ezequiel Sanchez, expressed the company’s profound gratitude in securing the support of renowned banking institutions such as Banco Santander, EBN Banco, and ICO, alongside obtaining insurance from Cesce. This collaboration, deemed exceptional within the space launcher sector, not only propels the company’s strategic advancements but also guarantees the preservation of the shareholders’ investment.
As the world eagerly watches the progress of PLD Space and the Miura 5 launcher program, the infusion of this substantial financing serves as a testament to the unwavering commitment towards propelling the capabilities of space technology. With the backing of esteemed financial institutions, the future seems promising for PLD Space and its ambitious foray into the realm of space exploration.