New milestone for PLD Space in Elche last October marked a historic step: the first Spanish rocket to reach space, Miura 1. The company, founded by Raúl Torres and Raúl Verdú, won the second phase of the Perte Aerospacial project to advance a Spanish microsatellite launcher. The decision allocates 40.5 million euros in public funding to develop Miura 5.
This rocket program aims to make Spain a pioneer with a commercial cargo capacity. Miura 1 served as a technology demonstrator, with its inaugural flight expected through 2025, followed by promotional operations in 2026. PLD Space also plans a large factory near the Alicante Fair Authority to support its growth.
During the announcement on a Friday, Diana Morant, the minister responsible for science, innovation and universities, highlighted the support as a way for Spain to lead in a technology not yet established in Europe. Morant spoke at the closing of a conference on artificial intelligence and human development at the University of Valencia, underscoring the role of public investment in national talent and research excellence.
The launch of the PLD Space rocket in October was accompanied by remarks about the company’s already evident success and its potential to keep the public captivated as Spain witnesses a homegrown rocket lifting off. The minister stressed that investing in university talent and national competencies is essential for maintaining momentum.
The selection of PLD Space followed a tender that evaluated the company for technical excellence by independent experts from the Technological Development and Innovation Center (CDTI). Earlier, the project had already allocated 1.5 million euros in a first phase, shared with Pangea Aerospace for the looper design. Over six months, teams advanced the preliminary design, which led to PLD Space becoming the sole contractor for the second phase.
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As part of the agreement, PLD Space will receive 40.5 million euros to develop Miura 5. This funding is structured as a pre-commercial procurement, meaning repayment of the funds will occur later, through a mechanism that accounts for the first ten years of charging customers to launch microsatellites into space before transitioning to full commercial activity.
Despite the financial round, this support marks a major milestone for the company, which has already raised more than 65 million euros from investors. The new funding adds to that capital base and reinforces its growth trajectory.
Executive chairman Ezequiel Sánchez emphasized that the public decision validates the company’s technology strategy and robust business plan. He noted that securing a national contract to build strategic space capabilities strengthens Europe’s access to space and positions PLD Space as a leader in this field.
Images show PLD Space executives alongside Elche’s mayor, Pablo Ruz, after the Miura 1 success. The celebration underscores the company’s growing profile in Spain and Europe.
Following the Miura 1 achievement, PLD Space is advancing a new phase with a first factory and a new headquarters in Elche. These facilities will house development, prototypes, and the initial production units. The aim is to create a unique European industrial capacity that strengthens regional and national supply chains, providing stability, control, and agility in future operations, says Raúl Verdú, head of Business Development and co-founder of PLD Space.
The company envisions a mass-production factory spanning about 75,000 square meters, with plans to add around 30 new jobs every three months through 2024. Currently employing roughly 170 staff, PLD Space is also moving ahead with launch base construction at the European spaceport in Kourou, French Guiana, owned by CNES, and test-bench expansion at Teruel Airport in the near term.
In 2025, the focus shifts to qualification and the first flight of the Miura 5, followed by commercial activity in the early months. The long-term goal remains ambitious: around 30 launches per year by 2030. The company also faces industry-wide challenges as Europe seeks new access pathways in the wake of Ariane 5’s retirement.
Executive chairman Sánchez warned of an unprecedented crisis in Europe’s access to space and underscored the importance of national initiatives—especially after the European Space Agency and the European Commission selected PLD Space as one of five companies to participate in space missions under a broader Airfare Initiative. This momentum suggests a strong push to secure autonomous European space capabilities through homegrown technology and production.
All of these developments illustrate a continent-wide effort to build resilient, sovereign space infrastructure, with PLD Space positioned at the forefront of Spain’s burgeoning aerospace ecosystem.