PLD Space

In 2024 COFIDES supported PLD Space, a Spanish engineering and manufacturing company specialising in the development of reusable space launchers, with a Euros 11 million loan out of the FIEX to build and operate the MIURA 5 commercial vehicle launch pad at the Guiana Space Centre in Kourou. "This platform, in one of the most strategic launch bases in the world, will allow PLD Space to carry out the first commercial flights of MIURA 5, consolidating Spain as a power in the space launcher sector," explains Raúl Verdú, co-founder and Head of Business Development at PLD Space.

"With COFIDES support, we are making progress in adapting this infrastructure, ensuring that it meets the highest standards of security and operational efficiency to offer a competitive space access solution in the international market”

Raúl Verdú, co-founder and Head of Business Development at PLD Space

With PLD Space, Spain stands at the forefront of the field

"Independent access to space is a key factor for any country’s technological, industrial and strategic development. With PLD Space, Spain joins a very small group of countries with the capacity to develop, manufacture and operate space launchers," says Raúl Verdú. At the same time, this opens up great opportunities for Spanish and European industry, "enabling the creation of a specialised supply chain, the attraction of international investment and the strengthening of the national space ecosystem". It also "facilitates the launch of observation, communications and defence satellites, contributing to the technological sovereignty of Spain and Europe".

Innovation is essential to the company, as its co-founder says. "It is coded into PLD Space's DNA and is key to our leadership in the sector. We apply cutting-edge technology in the development of our launchers, using recoverable systems and advanced materials that improve efficiency and reduce costs. In the last three years, we have invested more than Euros 35 million in R&D". In addition, PLD Space is working in collaboration with strategic companies such as Repsol to develop "the first renewable rocket fuel in Europe, thus contributing to the sustainability of the space industry".

In its future plans, PLD intends to consolidate the MIURA 5 programme and successfully complete its first commercial flights.

As a result of the collaboration between COFIDES and PLD Space, the company can advance in the infrastructure necessary for Spain to have a competitive and sustainable launch capacity. In his opinion, "COFIDES's backing is a recognition of PLD Space's potential and the impact our project will have on the national and international aerospace industry. This partnership is an example of how public-private collaboration can drive innovation and growth in strategic sectors such as space".

“The analysis of this transaction has given up the opportunity for a deep dive into the technical, regulatory and strategic challenges of the space industry, providing valuable insights into the financing needs of high-tech projects. In addition, working with the PLD team has been an enriching experience. Their strategic vision, professionalism and commitment have facilitated smooth collaboration, demonstrating their ability to lead highly complex projects”

Umberto Ferrer, Joint Head of Investment Unit at COFIDES

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