Ukrainian rocket company signs deal with Portuguese spaceport organization

Capitalism in space: Ukrainian startup rocket company Promin Aerospace has signed an agreement with the Atlantic Spaceport Consortium (ASC), a Portugal organization that is aimed at building launch facilities on Portuguese-controlled islands in the Atlantic.

Promin has raised $500K for what it claims will be “the smallest solid rocket capable of launching a payload into orbit.” ASC meanwhile is presently building a suborbital launch site in the Azores.

How much of this is real is entirely unknown. The reality of both appear to me to be somewhat nebulous. Nonetheless, if successful the partnership will put another new cheap orbital rocket as well as another spaceport on the map.