SaxaVord secures £60m funding to expand its launch capability

SaxaVord Spaceport has welcomed UK Government plans to invest £30 million as part of a wider £60 million public-private investment programme to accelerate the UK’s orbital launch capability.

SaxaVord CEO Scott Hammond said: “This is a hugely significant vote of confidence in SaxaVord and in the UK’s determination to establish its own launch capability.

“We have transformed a former RAF radar station in Unst into the UK’s first licensed vertical launch spaceport. This government investment, which will unlock a matching amount of private investment, will help us take the next step – establishing regular launch operations from the UK and building a sustainable commercial spaceport for the long term.

“We are building the spaceport for the thousandth as much as the first launch, creating a safe, secure and trusted home for our client launch providers for many years to come.”

How UK space strategy underpins investment to enhance launch infrastructure

The Government investment, which is subject to due diligence, is being announced as part of the UK’s updated space strategy published today and will be complemented by £30 million of planned private investment.

The programme will support completion of key infrastructure at SaxaVord as it moves towards regular commercial launch operations, specifically all three launchpads, mission management infrastructure and second integration hangar required by international launch companies keen to bring their business to the UK.

The UK’s only licensed vertical launch spaceport, SaxaVord has regulatory approval for up to 30 launches a year and is being developed to accommodate multiple launch providers.

Increasing support for space launches from Shetland

Lise Kaae, CEO of Heartland, which through its investment arm Wild Ventures has a majority stake in the spaceport, said: “We are very pleased to welcome the UK Government as an investor and partner in SaxaVord. Their commitment is a strong endorsement of the ambitions for the company, the spaceport in Shetland and the potential we have believed in for many years. As long-standing supporters and partners, we are proud of the development so far and look forward to continuing the journey alongside the UK Government.”

Rocket Factory Augsburg (RFA) is working towards the first vertical orbital test flight from UK soil, while HyImpulse is preparing for a sub-orbital launch campaign. SaxaVord is also in discussions with further launch service providers.

The UK Government investment is subject to due diligence and final sign-off. SaxaVord Spaceport intends to make a further announcement, including details of the investment programme, once the agreement has been settled.