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The competition heats up: A Spanish company has gotten a $2.4 million grant from the European Commission to develop a smallsat rocket.
The EC Horizon 2020 funds bring the Elche, Spain-based startup to more than 9 million euro raised to build the Arion 1 sounding rocket and the Arion 2 orbital rocket. PLD Space co-founder and chief business officer Raúl Verdú said in a Jan. 10 statement that the company anticipates “the closing of an A2 investment round of 8 million Euro very soon.
PLD Space anticipates a first launch of Arion 1 in 2019, followed by the Arion 2 rocket in 2021. Both debut missions have slipped by one year from the company’s previous estimates. Around 70 percent of the technology needed for Arion 1 will overlap with Arion 2, according to PLD Space. The company hopes to make both rockets reusable using a mixture of parachutes and propulsive landing.
I haven’t done a detailed survey, but I think this brings the number of smallsat rockets under development right now to at least six: Rocket Lab, Japan’s SS-520, China’s Kaituozhe-2, Vector, Interorbital and PLD Space. Russia and India have also said they plan to develop a small rocket for this market, though no details yet exist.
I have been repeatedly told by other space experts that it makes no financial sense to launch smallsats on single small rockets. Yet, we now have numerous companies and investment dollars going to develop such rockets. I think that this only illustrates how little trust everyone should place in experts (even me!).