Spain: EIB finances with €30 million PLD Space’s small satellite launcher MIURA 5

This article is published in association with European Investment Bank.

• EIB`s financing supports the final development stage of MIURA 5 and the scaling of PLD Space’s industrial and launch capabilities.
• Support for MIURA 5 rocket boosts Europe´s capabilities to deploy small satellites for civil, commercial and defence applications.
• Backed by InvestEU, operation takes form of venture debt and marks EIB’s first direct investment in small space launchers.

Audiovisual material

• Video soundbite by EIB Group President Nadia Calviño about the financing 20260407_President_PLD_Space_Spain_English_Clean.mp4 – Google Drive
• Video images of signing event and PLD Space facilities https://drive.google.com/file/d/1xf7Auba9tKjin47FP_wio4CSUbfhrc_o/view?usp=sharing

The European Investment Bank (EIB) has signed a €30 million venture debt loan with PLD Space, an international space transportation company headquartered in Elche, Spain, to support the final development stage of MIURA 5, the company’s rocket designed to deploy small satellites into orbit.

The operation represents the EIB’s first direct investment in small launchers for the transport of satellites into space. The financing will also support scaling of PLD Space’s industrial and launch capabilities to transition toward commercial operations.

“I am proud to announce today the signing of a €30 million European Investment Bank loan for the European company based in Spain PLD Space, to succeed in the launch of the Miura 5 rocket and to deploy small satellites into orbit, which will be key for communications, research and our security,” said EIB Group President Nadia Calviño.

The project contributes to the EIB’s goals of boosting investments in European Union technological innovation and strengthening Europe’s security and defence capabilities through enhanced European independence in the field of space.

“Europe needs strong, independent launch capabilities to secure its autonomous access to space,” said EIB Vice‑President Robert de Groot. “With its innovative rocket technology and infrastructure, PLD Space is taking important steps in this direction. The EIB is proud to support PLD Space in scaling its launch services to reach globally competitive price levels, strengthening Europe’s autonomy in this critical segment.”

Positioned in the small lift launch vehicle segment, MIURA 5 is a two‑stage rocket designed to reduce the complexity and scheduling risks associated with launches of small satellites using medium‑ or heavy‑lift launch vehicles. From a climate perspective, MIURA 5 will undergo developments to become fully reusable, offering a more sustainable solution for transporting small satellites into space. The rocket is on track for its first test flight in 2026 and it is expected to provide a highly flexible service, carrying out up to 30 missions per year from multiple spaceports, including  the Guiana Space Centre – in French Guiana, also known as the European spaceport.

“Securing this unique €30 million financing from the European Investment Bank marks a decisive milestone for PLD Space and for Europe’s space industry. It strengthens our ability to expand the industrial and launch infrastructure required to provide dependable access to space for our global pipeline of commercial and institutional customers. We are grateful to the EIB for its trust and support; this backing reinforces our long‑term vision and further consolidates Europe’s access to space,” stated PLD Space’s Executive President, Ezequiel Sánchez.  “With this new financing, PLD Space has now secured €210 million so far in 2026, following the €180 million Series C closed in March. Driven by European and international institutional and strategic backing, PLD Space continues to advance its roadmap and consolidate its position among the select group of private companies worldwide developing complete launch systems to enable reliable global access to space,” added Ezequiel Sánchez.

“Today, we take an important step forward in Europe’s position in the global launch market with this €30 million investment in PLD Space’s MIURA 5.This is one step among many in a broader effort to support a dynamic new ecosystem of European access to space companies — combining strong public backing with a stable, forward-looking environment in which innovative industries can grow, scale, and invest with confidence,” said Commissioner for Defence and Space Andrius Kubilius. “As space becomes increasingly strategic, access is no longer a luxury — it is essential to our security, our economy, and our future. That is why the European Union is committed to ensuring independent and reliable access to space. By backing innovative European companies, we are building a strong, competitive, and resilient launch industry — and securing Europe’s place as a global space power,” added Kubilius.

The PLD Space financing adds to the EIB’s diversified New Space portfolio of investments, which includes venture loans to European space challengers like Aerospacelab, Sateliot, Endurosat or D-Orbit, active across the value chain — from ground stations and satellite manufacturing to Earth observation, communications, orbital logistics, data analytics and propulsion. This complementary portfolio has been strategically sourced by the EIB to support the EU’s goal of strengthening strategic autonomy in space. In addition, through initiatives such as Space TechEU and advisory support delivered with the European Commission, ESA and the European Innovation Council, the EIB Group combines financing and expertise to foster innovation and accelerate the development of Europe’s space sector.

The PLD Space financing agreement makes a strong contribution to the eight core priorities set out in the EIB Group 2024-2027 Strategic Roadmap. In particular, the project supports the Group’s cross‑cutting initiatives of climate action, and strengthening Europe’s security and defence industry. It also contributes to the TechEU initiative, the EIB Group’s programme to accelerate EU innovation, which aims to mobilise €250 billion in investments by 2027 for startups, scale-ups and innovative companies across Europe. This EIB loan is guaranteed by InvestEU, the flagship EU programme to mobilise public and private sector investment to support EU policy goals.

Background information

EIB Group

The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investments union. Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations. The EIB Group completed financing and investment operations in Spain totaling around €11 billion last year, which came alongside an additional €2.9 billion under the Regional Resilience Fund (NextGenerationEU loans).

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs. In 2023, the EIF together with six Member States (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative (ETCI), a fund-of-funds to scale up innovative startups. This initiative has already enabled the creation of 14 European venture capital mega funds and scaled up 40 companies, including 11 unicorns (with more than €1 billion in capital).

Photos of the EIB Group management and headquarters, logo files and video B-roll for media use are available here.

InvestEU

The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps crowd in private investment for the European Union’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

PLD Space

PLD Space is an international company on a mission to transport satellites and people into space, vertically integrating the engineering, testing, manufacturing, and operations of its reusable and sustainable rockets. Headquartered in Elche (Spain) and founded in 2011 by Raúl Torres and Raúl Verdú, PLD Space has established itself as a global benchmark in the small satellite launch sector. Its family of MIURA launchers and LINCE crewed capsule position the company as a leader in European technological sovereignty for space transportation, covering the full spectrum of space missions. 

With a team of more than 450 employees, PLD Space operates over 188,000 m² of facilities in Elche, Teruel (Spain), Kourou (French Guiana), and Duqm (Oman), enabling the company to provide comprehensive satellite and payload launch services into space.