EU funding launches space project by Steve Collins PLD Space, a company based in Elche, has announced that they have now been able to raise enough money for them to continue with their latest project.
Two million euros has been provided by the European Union (EU) to allow them to carry on with developing the ARION 1 vehicle.
However, this initial funding only goes some way to the total of €8 million being sought by the company from a range of private investors.
Raul Verdú, business director of PLD Space said: “This support from the EU now confirms our position among such projects and allows us to develop further in the future.”
Chief Executive Officer, Raúl Torres, added his own comments on the news saying, “We are now much closer to developing a space rocket that allows Spain to have its contribution to the world of space explorations.
“Such an opportunity makes Spain only one of ten countries throughout the world.”
If everything goes to plan, and this funding will certainly go a long way to making it a reality, the first launch is expected for later this year, with ARION 2 launching in 2020.
“We’re expecting a very busy year with the aim of building the prototypes and testing the finished models at Teruel Airport, which although 3 hours away from Elche is the perfect location,” said Verdú.