Banco Santander and EBN Banco provide financing to PLD Space. Photo: PLD Space

A group of Spanish banks have backed PLD Space with a 31.2 million euro ($34 million) loan to fund the company’s Miura 5 space launch program. Banco Santander and EBN Banco are co-lead banks for the syndicated loan, which includes participation from the Instituto de Crédito Oficial (ICO). 

This financing is earmarked for the Miura 5 smallsat launch vehicle, including developing technology, expanding the company’s industrial capabilities, and building associated infrastructure. PLD Space is working to conduct the first Miura 5 launch by the end of 2025 from Europe’s spaceport in French Guiana. 

PLD Space noted this loan is a significant milestone in Europe as bank financing for startup space companies is rare. The financing is part of Spain’s PERTE Aerospace plan to mobilize investment in the nation’s aerospace industry. 

PLD Executive President Ezequiel Sanchez said: “Securing the support of major banks like Banco Santander, EBN Banco and ICO, along with insurance from Cesce, is a significant achievement for us. This rare operation in the space launcher sector enables us to advance our plans while safeguarding our shareholders’ investment.”