PLD Space advances business operations in 2024

PLD Space advances business operations in 2024
by Hugo Ritmico
Madrid, Spain (SPX) Jan 03, 2025

PLD Space has concluded 2024 with remarkable progress, securing its place as a major player in the global space launcher industry. The company has raised over 170 million euros through various funding initiatives, enabling rapid development and strategic expansion.

Throughout 2024, PLD Space secured significant investments, including a 40.5 million euro grant under the Spanish small satellite launcher project, supported by the PERTE Aerospace initiative. Additionally, a syndicated loan of 31.2 million euros, backed by Banco Santander, EBN, and the Official Credit Institute, and an 11 million euro loan from COFIDES were instrumental in advancing the MIURA 5 launch complex at the CSG spaceport in Kourou, French Guiana.

Strategic Expansion and Technological Leadership

The unveiling of MIURA Next, a family of large reusable launchers, alongside LINCE, Europe's first private crewed capsule, highlights PLD Space's commitment to advancing space transportation. These developments solidify the company as a leader in European space technological sovereignty, supporting diverse mission profiles.

In 2024, PLD Space inaugurated a cutting-edge 12,500-square-meter headquarters and manufacturing facility in Elche, Alicante. This facility combines advanced production technologies with industrial efficiency, supporting the annual production of six MIURA 5 launchers and 60 TEPREL-C engines. The company has also adapted its test facilities in Teruel and expanded them to qualify MIURA 5 subsystems and components.

Additionally, PLD Space partnered with Deimos to develop the Guidance, Navigation, and Control (GNC) system for MIURA 5, offering efficient, reliable options for small payloads.

Recognition and Social Impact

PLD Space received notable accolades in 2024, including recognition as one of the 10 Spanish companies in the European Innovation Council's Scaling Club. Its leadership team, including Raul Torres, Raul Verdu, and Ezequiel Sanchez, joined Endeavor's global network for impactful entrepreneurs.

The European Space Agency (ESA) and the European Commission selected PLD Space for the Flight Ticket Initiative, enhancing institutional access to space. The company was also awarded an ESA Boost! contract to develop modular satellite accommodation systems. ESA Director General Josef Aschbacher described PLD Space as "exceptional" during a visit to its Elche facility, emphasizing its role in European space autonomy.

In addition to technological achievements, PLD Space launched the SPARK Program, granting free access to the first two MIURA 5 flights for students, researchers, and commercial entities, fostering interest in science and space exploration.

A Growing Workforce and Vision for the Future

By the end of 2024, PLD Space had grown to 276 employees from 19 countries. Reflecting on the year, Executive President Ezequiel Sanchez remarked, "2024 has witnessed very significant achievements for PLD Space and for the European and global space industry. We'll keep the goal of maintaining PLD Space's leadership in the global space industry, ensuring Europe's independence and sovereignty of access to space."

As the company looks to 2025, its focus remains on innovation, sustainability, and solidifying its position as a global leader in space launch systems.