PLD Space secures first-of-its-kind EIB backing
The European Investment Bank (EIB) has agreed to provide €30 million in venture debt to Spain’s PLD Space, a move that signals growing institutional support for Europe’s emerging small-launch sector. The financing, supported by the EU’s InvestEU programme, is intended to help the company complete development of MIURA 5, its two-stage orbital rocket designed to place up to 1,000 kilograms into low Earth orbit.
From MIURA 1 milestone to an orbital push
PLD Space, founded in 2011 in Elche by aerospace engineers Raúl Torres and Raúl Verdú, drew attention in October 2023 when its suborbital demonstrator MIURA 1 launched from a military test site in Huelva. The flight produced data the company says will directly inform the design and qualification of MIURA 5, giving it a technical head start in a competitive European field.
Why MIURA 5 matters for small satellite operators
Small satellite customers often fly as secondary payloads on larger rockets, which can mean long waits and limited control over schedules and orbits. A dedicated launcher such as MIURA 5 could offer more tailored access—at price points that may undercut Europe’s heavy-lift options like Ariane 6 and Vega C.
Timeline, launch sites, and reusability plans
PLD Space is targeting a first test flight in 2026 and commercial missions starting in 2027, with an ambition to exceed 30 launches per year by 2030. The company plans operations from multiple sites, including the Guiana Space Centre in French Guiana and a new location in Oman, to broaden orbital access. Early flights are expected to use a non-recoverable configuration, with later iterations aiming for a recoverable first stage as part of a broader reusability roadmap.
Strategic implications for Europe’s access to space
The deal marks the EIB’s first direct investment in a small-satellite launcher, reflecting a policy shift that increasingly frames launch capacity as a strategic security and defence priority. For PLD Space, the funding is a high-profile validation—but the next decisive step will be successfully delivering a paying customer’s satellite into orbit.
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