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PLD Space Announces Expansion Plans Amid Funding Support

PLD Space
Miura 5. Credit: PLD Space

Ibadan, 25th April 2024. – PLD Space has announced that it has attained 120 million euros in funding to date, thus ensuring it can meet its upcoming technological and corporate milestones, culminating in the launch of the MIURA 5 mission at the end of 2025.

The Company has received 78 million euros from shareholders who have invested in its technological program and business model. In addition to this sum, there are 42 million euros from the PERTE for a Spanish space launcher (1.5M€ in July 2023 and 40.5M€ at the end of January 2024).

PLD Space’s investor profile is industrial and qualified institutional, such as Aciturri or the Centre for the Development of Industrial Technology (CDTI) through its Innvierte program, which provides both financing and strategic know-how. Consequently, the Spanish Company will use the funding to ensure the expansion of PLD Space’s infrastructure, as well as its corporate structure. Specifically, the firm will be multiplying the size of its facilities by five, growing from 169,000 to 834,000 square metres.

Within this industrial expansion plan, the company intends to inaugurate the first serial space rocket factory in Spain in mid-2024, enabling vertical integration of the launchers. The industrial site will house the factory for the first MIURA 5 units as well as the company’s head offices. The Spanish company’s plan for growth also includes the next phase to extend its test facilities, which will grow from 154,000 to 800,000 square metres. It also plans to expand its workforce to 300 employees by the end of the year.

Raúl Verdú, the Company’s CEO, said, “PLD Space is a company that delivers what it promises, and 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.”

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