EIB provides PLD Space with a loan of €30 million to complete the construction of its MIURA 5 rocket.

      The venture debt facility, secured through InvestEU and signed on April 7, increases PLD Space’s total fundraising for 2026 to €210 million after its €180 million Series C funding round in March. The MIURA 5 rocket is scheduled for its first test flight later this year from the Guiana Space Centre.

      The European Investment Bank has finalized a €30 million venture debt loan with PLD Space to aid in the final development phase of MIURA 5, the Spanish firm’s two-stage rocket intended for launching small satellites into low Earth orbit.

      The agreement, established on April 7 in Elche, Spain, and backed by InvestEU, represents the EIB’s initial direct investment in a small satellite launcher. This funding boosts PLD Space’s total fundraising for 2026 to €210 million, following the company's €180 million Series C completed on March 4, which was led by Mitsubishi Electric Corporation.

      MIURA 5 is a two-stage rocket in the small lift category, capable of carrying payloads of up to approximately 1,040 kilograms to low Earth orbit. Its design emphasizes dedicated small satellite launches rather than sharing capacity with medium- or heavy-lift vehicles, thus minimizing the complexities and risks associated with scheduling for constellation operators when their payloads are secondary.

      The first stage of MIURA 5 is designed to be reusable, with recovery occurring in the ocean post-separation. PLD Space has indicated that the rocket is on schedule for its initial test flight in 2026 from the Guiana Space Centre in French Guiana, aiming for a commercial launch frequency of over 30 missions annually by 2030, operating from various spaceports.

      The EIB financing will facilitate the completion of the final development program for MIURA 5 and enhance PLD Space’s industrial and launch infrastructure as it moves into commercial operations. EIB Vice President Robert de Groot noted that the bank is supporting PLD Space to achieve globally competitive pricing in a sector where European autonomous access to space has become a strategic priority.

      EU Commissioner for Defence and Space, Andrius Kubilius, emphasized that independent launch capability is crucial for security, economic stability, and future growth, positioning this investment as part of a wider EU initiative to create a competitive European launch industry.

      Founded in Elche in 2011 by Raúl Torres and Raúl Verdú, PLD Space is Spain's first private rocket company. It successfully launched the MIURA 1 suborbital technology demonstrator on October 7, 2023, and has since experienced significant growth.

      The company now employs over 450 individuals and operates across more than 188,000 square meters of facilities in Elche, Teruel, Kourou in French Guiana, and Duqm in Oman. With the EIB agreement, PLD Space has raised over €380 million to date, excluding €169 million in launch service contracts pledged by the Spanish government through ESA’s European Launcher Challenge, for which PLD Space was chosen in 2025.

      The March Series C round, led by Mitsubishi Electric, included a €50 million contribution and established Mitsubishi as a strategic launch customer, securing PLD Space’s small satellite launch services for Japan and other Asian markets. Co-investors in that funding round included the Spanish Ministry of Science, Innovation and Universities via CDTI and its INNVIERTE fund, the public funds management company COFIDES, and Nazca Capital through its Nazca Aeroespacial y Defensa INNVIERTE I FCR fund.

      Ezequiel Sánchez, Executive President of PLD Space, referred to the EIB agreement as a “decisive milestone” that enhances the company’s capacity to develop the necessary infrastructure for reliable access to space for its diverse global customer base.