Government Invests £14m into Spaceport Cornwall Post-COVID Recovery Project

UK government pledges over £14m to help Cornwall spaceport recover after COVID pandemic. Private and public sectors should also support this initiative, investing over £44 million in the facility.

The Government’s Getting Building Fund will allocate over 14 million pounds to Cornwall Spaceport in the next 18 months. These funds are meant to support several promising projects, with a total worth of £59 million, helping the facility recover after COVID-19 pandemic.

Cornwall spaceport projects to receive funding

Spaceport Cornwall is home to many exciting projects, and these ones will be entitled to GBF funding.

Lithium recovery plant: this project will deal with lithium extraction from old batteries, as well as its production from geothermal brines. If successful, it will prove that lithium can be obtained without any carbon footprint. Geothermal Engineering Ltd (GEL) and Cornish Lithium at GEL are leading this initiative and are in line for £4m.

Space ‘AI’ institute and receiver factory: Goonhilly Earth Station Ltd will receive £3.77m for space AI research and development. This initiative should boost data analysis opportunities and keep Cornwall spaceport ahead in the modern space race.

Spaceport Cornwall redevelopment project: an impressive £26.2m will go to accelerate the spaceport redevelopment. This program presupposes youth outreach initiative, building a new theatre, as well as opening new bars and cafes.

Saputo Dairy UK creamery expansion: this initiative will secure work opportunities for over 300 local farmers. The expanded creamery will produce more cheese while emitting less CO2. Creamery located in Davidstow should help the local population get steady job opportunities, thus boosting the area’s economy.

Truro and Penwith College STEM Skills Centre: this facility will get £6.3m and should create new educational opportunities in engineering, digital, and health science spheres. This facility can, in the long run, attract young talent to the region.

Airport Newquay development: more business facilities should launch on the basis of the already existing Newquay airport in spaceport Cornwall vicinity. After investing £1.25m into this project, the UK Space Agency plans to lease these facilities to private businesses dealing with horizontal launches.

Renewable solar energy project to retrofit social housing: Cornwall Council will get over 4 million pounds to install solar panels on 600 homes. A full housing retrofit is planned for 42 other properties.

GBF investment of £14.3m will lead to an additional investment of £44.6m from private and public companies. In total, Spaceport Cornwall will receive almost £59m of funds, which should help this promising facility recover after the COVID-19 pandemic.