Spanish rocket startup PLD borrows $35 million
The Spanish rocket startup PLD, which hopes to complete its first orbital launch of its Miura-5 rocket this year, has now obtained a $35 million loan from the European Investment Bank (EIB), in addition to the more than $400 million in investment capital it had previously raised, and a variety of government grants totaling around $200 million.
The European Investment Bank (EIB) has signed a €30 million [$35 million] venture debt loan with PLD Space, an international space transportation company headquartered in Elche, Spain, to support the final development stage of MIURA 5, the company’s rocket designed to deploy small satellites into orbit. The operation represents the EIB’s first direct investment in small launchers for the transport of satellites into space. The financing will also support scaling of PLD Space’s industrial and launch capabilities to transition toward commercial operations.
Considering how much actual capital and government grants PLD has raised, one wonders why it also needs to take out this loan. It suggests the company has cash flow issues, despite the funding obtained.
Though the company appears to be on schedule for its planned launch of Miura-5 this year from French Guiana, no launch date has been announced.
The Spanish rocket startup PLD, which hopes to complete its first orbital launch of its Miura-5 rocket this year, has now obtained a $35 million loan from the European Investment Bank (EIB), in addition to the more than $400 million in investment capital it had previously raised, and a variety of government grants totaling around $200 million.
The European Investment Bank (EIB) has signed a €30 million [$35 million] venture debt loan with PLD Space, an international space transportation company headquartered in Elche, Spain, to support the final development stage of MIURA 5, the company’s rocket designed to deploy small satellites into orbit. The operation represents the EIB’s first direct investment in small launchers for the transport of satellites into space. The financing will also support scaling of PLD Space’s industrial and launch capabilities to transition toward commercial operations.
Considering how much actual capital and government grants PLD has raised, one wonders why it also needs to take out this loan. It suggests the company has cash flow issues, despite the funding obtained.
Though the company appears to be on schedule for its planned launch of Miura-5 this year from French Guiana, no launch date has been announced.














