The European Investment Bank has announced a thirty million euro venture debt loan to PLD Space to finalize the development of its Miura 5 small satellite launcher. Signed on April 7, 2026, in Elche, Spain, this agreement marks the first time the bank has directly invested in a small-scale space launcher.
This new funding brings the total capital raised by PLD Space in 2026 to two hundred ten million euros, following a massive one hundred eighty million euro Series C round led by Mitsubishi Electric in early March.
The Miura 5 is a two-stage orbital rocket designed specifically for the dedicated deployment of small satellites, offering a payload capacity of approximately one thousand kilograms to low Earth orbit. By providing a bespoke launch service rather than requiring satellites to fly as secondary payloads on larger rockets, PLD Space aims to reduce the scheduling risks and mission complexities that often plague small satellite operators. The rocket’s first stage is designed to be fully reusable, returning to the ocean for recovery to provide a more sustainable and cost-effective solution for space access.
This investment is a key component of Europe’s broader strategy to achieve strategic autonomy and sovereign access to space. As noted by EIB Group President Nadia Calviño, the success of the Miura 5 is vital for European communications, research, and security.
The project is currently on track for its first test flight later in 2026 from the Guiana Space Centre in French Guiana. By 2030, the company expects to reach a commercial cadence of up to thirty missions per year, operating from multiple global spaceports to serve an expanding pipeline of international institutional and commercial customers.
The financing is guaranteed by InvestEU, the flagship European Union program designed to mobilize public and private investment for high-priority policy goals. This deal adds to the European Investment Bank’s growing New Space portfolio, which already includes support for companies across the space value chain such as Aerospacelab, Sateliot, and D-Orbit.
By backing innovative companies like PLD Space, the European Union is working to build a resilient and competitive launch industry that can ensure independent and reliable access to orbit for years to come.
