The CDTI Joins the Capital of PLD Space5th Jan 2021
The Technological and Industrial Development Center (its acronym in Spanish CDTI) becomes a partner in the space start-up PLD Space, an operation that has been carried out jointly with the JME Venture Capital and ALZIS funds.
The Center for Technological and Industrial Development, which belongs to the Government of Science, has entered the capital of PLD Space by way of its Innvierte project, with a contribution of €450,000. It could be complemented by future contributions of up to €15,000,000 if requested by investors in the next round of investment, the B series.
The centre has already supported the business several times. In 2012, it did so through a Neotec loan and later through financial assistance, with ERDF funds, to help with the development of the TEPREL-b liquid motor fuel through the Spanish Multi-Regional Operational Program 2014 – 2020. It has also financed the FLPP-LPSR project, completed successfully in the year 2019 by the European Space Agency.
New PLD Space Partnership
With this contribution, the centre becomes a shareholder of PLD Space, a start-up from Elche working on the project to develop a Spanish launcher, called MIURA 5. During the latter part of 2022, PLD Space will launch the operational and technological demonstrator known as MIURA 1, which will allow the in-flight confirmation of the technologies involved in the further construction of MIURA 5, as well as the ground and flight operations necessary for the successful and safe launch of the rocket.
To date, PLD Space has obtained more than €28,000,000 of institutional support and private investment, mainly from Spanish capital, such as the recently obtained investment from Arcano Partners.
Raúl Verdú, co-founder and COO of PLD Space, said it’s a pleasure to be partners of an institution like the Technological and Industrial Development Center that has been supporting PLD Space in its evolution for seven years now. The COO would like to thank ALZIS and JME Venture Capital, PLD Space’s partners, who have co-invested with them at this time, allowing this incorporation of CDTI to the enterprise and the construction of the MIURA 5 program.