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UK Government invests £10m into SaxaVord Spaceport

During today’s Spring Budget, the UK Government announced its plans to invest £10 million into SaxaVord Spaceport, Europe’s first and only licensed vertical launch spaceport.

Image courtesy SaxaVord

This £10 million investment proposed by the UK Government, which joins £40 million of private investment to date, will allow SaxaVord to accelerate its capital works programme to ensure it is ready to support the first ever orbital launch from UK and European soil in the summer later this year.

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As well as an historic moment, the first vertical launches from UK soil will also be a big step towards delivering on the Government’s aim of making the UK the leading provider of commercial small satellite launch in Europe by 2030.

Frank Strang, CEO, SaxaVord Spaceport, commented: “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."

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