Spanish rocket company PLD Space signs deal with France's Arianespace
Reuters
Published Jun 14, 2023 15:44
Updated Jun 14, 2023 17:00
MADRID (Reuters) -Spanish startup PLD Space has signed a memorandum of understanding with France's Arianespace to develop joint services to launch small satellites into orbit, the Spanish company said on Wednesday.
The agreement will allow PLD Space to offer its customisable services to Arianespace customers, it said in a statement.
PLD Space hopes to start commercial activity in 2025 and plans to make a first suborbital test in the next days or weeks in southern Spain, after calling off a launch at the end of May due to high altitude winds.
It plans to gradually increase its capacity to 10 to 12 launches per year by the end of this decade.
Plans to deploy thousands of internet-beaming satellites in the next few years have spawned rocket companies targeting what some analysts expect will be a $1 trillion market by 2030.
Europe's efforts to develop capabilities to send small satellites into space are in focus after a failed orbital rocket launch by Virgin Orbit from Britain in January.
"Collaboration with strategic partners such as Arianespace is further proof of our commitment to increase Europe's commercial space access capability at a time when it is most needed," Ezequiel Sanchez, PLD executive president, said in the statement.
Arianespace, which launches satellites from French Guiana, is majority owned by ArianeGroup, a joint venture between Airbus and Safran (EPA:SAF).
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.