Shetland Space Centre States That The £2 Million Investment Is Legitimate

28th Apr 2020
Shetland Space Centre States That The £2 Million Investment Is Legitimate

In a recent development of the Leonne International scandal, the team behind the management of the Shetland Space Centre (SCC) have publicly stated that they are delighted with the £2 million into the project and are fully satisfied that the arrangement is legitimate.

According to the SCC Chief Executive, Frank Strang, Leonne International was subjected to ‘due diligence’ that has been carried out on the firm, and SCC’s major partners raised ‘no issues.’ According to a spokesperson, an investment of £2 million in cash will be received in installments for ten months by the Shetland Space Centre.

They defended the investment in a statement published on their website:

Strang stated that Leonne International has managed to meet all the required obligations, and the flow of funds into the SCC would be done according to the legally binding agreement.

How Would Shetland Space Centre Benefit From Leonne International?

With the help of the £2 million investment by Leonne International, plans to build and operate the only satellite launch site in the area (Shetland Space Centre) will be boosted significantly. In return, Leonne International receives a 20% stake in the business. The cash injection would help develop the ground station and the launch site on the island of Unst, which is the UK’s most northern location.

The Shetland Space Centre has previously been identified as the best location for launching small satellites into the Earth’s orbit. SCC has been planning on this development for more than two years. Now, the organization is working towards the development of a fully functioning ground operation and launch site by the end of next year.

Frank Strang states that the partnership between Shetland Space Centre and Leonne International will provide a lot of benefits for the country by revitalizing the economy, attracting tourists, and creating new jobs.

Earlier this month we published findings that were reported in the Sunday Mail and by a user on Twitter…

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