“This latest investment will help us capitalise on the rapid pace of construction as we work towards the first-ever orbital launch from UK and European soil.”

The Government has revealed plans to invest £10 million into SaxaVord Spaceport, positioning the UK as Europe’s first and sole licensed vertical launch spaceport for a groundbreaking milestone.

The proposed £10 million government investment, alongside £40 million of private funding accumulated to date, is set to expedite SaxaVord’s capital works program.

The funding will help facilitate the first-ever orbital launch from UK and European soil, scheduled for this summer.

The inaugural vertical launches from UK territory are not only historic but also signify a significant stride towards fulfilling the government’s vision of positioning the UK as the premier provider of commercial small satellite launches in Europe by 2030.

Frank Strang, CEO of SaxaVord Spaceport, expressed gratitude to the government and highlighted their unwavering support for SaxaVord, underscoring the significance of this week’s investment in propelling the UK to the forefront of European spaceflight.

Mr Strang said:

“I would like to thank the Secretary of State for Science Innovation and Technology, the Minister of State for Science Innovation and Technology, the Chancellor, the Secretary of State for Scotland and the UK Space Agency for their confidence in SaxaVord. 

“Their support today for both the new space economy and ourselves at SaxaVord will help ensure that the UK leads the way in European spaceflight. The global space industry is valued at $530bn annually and rocket company Rocket Factory Augsburg’s launch at SaxaVord this summer will put the UK at the forefront of what is one of the world’s fastest growing sectors – bringing jobs, investment and opportunity.”

The infusion of £10 million from the UK Government into SaxaVord Spaceport stands as a testament to the nation’s commitment to fostering innovation, driving economic prosperity, and securing a prominent position in the global space race. As SaxaVord gears up to mark a historic milestone with the inaugural orbital launch, the UK reaffirms its status as a trailblazer in space exploration and commercial satellite deployment.

Image courtesy SaxaVord

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