Venture part of tech firm’s Series B investment round for space vehicle development
PLD Space already attracted over €18 million [$21.3 million] in private investment and institutional support in addition to new deal involving Arcano
Arcano Partners a leading financial advisor in Iberian market
ELCHE, Spain, 15 September 2020 (PLD Space) — Spanish reusable launch vehicle developer PLD Space today announced the closure of further financing through a tie-up with independent financial advisory and alternative asset management group Arcano Partners. The €7 million [$8.3 million] venture will fund the build out of the PLD Space aerospace project in a deal forming part of its Series B investment round.
TEPREL B is the regenerative engine, designed by PLD Space, that will be used on MIURA 1 flights
The two-minute test has been successfully achieved at PLD Space Propulsion Test Facilities in Teruel Airport.
Key milestone in MIURA 1 Engine Qualification Campaign, as the company achieved a full-time engine validation
ELCHE, Spain, February 26, 2020 (PLD Space PR) — In May 2019 PLD Space suffered a catastrophic engine failure, which provoked material damage, including the loss of the first flight version of the TEPREL-B liquid rocket engine, developed by PLD Space for MIURA 1 launch vehicle. Therefore, the company decided to pause the qualification process and analyse the root causes of the failure to solve the problems found.
After eight months of hard work, PLD Space successfully achieved a full mission duration hot test of the flight engine. This allowed the company to validate the nominal engine performance during the full mission duration burn of two minutes, the necessary time to boost MIURA 1 launch vehicle into space.
“This milestone is a huge step forward for PLD Space, for the Spanish space sector and the European small launcher competitiveness, and allow us to be one of the few companies in the world that has successfully developed, tested and qualified propulsion technologies for space launch vehicles. Achieving this important milestone implies a turning point in the commercial space race and take us a step closer for launching MIURA 1 into space. With this result, PLD Space has a rocket engine capable of reaching space soon”, Raúl Torres, CEO and co-founder of PLD Space.
ELCHE, Spain (PLD Space PR) — MIURA 1, the suborbital rocket developed by PLD Space, will be launched from “El Arenosillo” Experimentation Center (CEDEA), of INTA, during the third quarter of 2019. This technological demonstrator, whose development began in 2011, is designed to provide scientific and commercial access to space from Spain.