The European Investment Bank (EIB) has provided a €30 million venture debt loan to PLD Space, guaranteed by InvestEU, to aid in developing MIURA 5, a two-stage rocket by the Spanish company intended for launching small satellites into low Earth orbit. This agreement, signed on April 7 in Elche, marks the EIB’s initial direct investment in a small satellite launcher. The deal elevates PLD Space’s 2026 total fundraising to €210 million, following the €180 million Series C led by Mitsubishi Electric Corporation in March.
MIURA 5, engineered for payloads up to 1,040 kilograms, aims to cater specifically to small satellite launches, avoiding the complexities of sharing larger vehicles. Its first stage is designed for ocean recovery reuse, with its inaugural test flight slated for 2026 from the Guiana Space Centre, targeting over 30 missions annually by 2030 across various spaceports.
EIB Vice President Robert de Groot emphasized the significance of this investment in fostering European space access competitiveness. EU Commissioner Andrius Kubilius highlighted the importance of autonomous launch capabilities for EU security and economic future.
Founded in 2011 by Raúl Torres and Raúl Verdú, PLD Space launched MIURA 1 successfully in 2023. The company employs over 450 people across several locations, including Elche and French Guiana. To date, PLD Space has secured over €380 million, excluding €169 million in promised launch service contracts from the Spanish government. The Series C involved Mitsubishi Electric, the Spanish Ministry through CDTI, COFIDES, and Nazca Capital, positioning Mitsubishi as a strategic launch customer for Asia.
Ezequiel Sánchez, Executive President of PLD Space, expressed that the EIB deal is pivotal for expanding the necessary infrastructure to offer reliable space access to a global customer base.