PLD Space

Overview

PLD Space is a Spanish launch services provider developing a family of reusable launch vehicles designed to provide Europe with independent, cost-effective access to space. Founded in 2011 in Elche, Spain, the company focuses on small-to-medium lift capability with an emphasis on reusability and rapid turnaround. PLD Space's flagship vehicle, Miura 5, is a two-stage orbital launcher designed to deliver up to 1,000 kg to low Earth orbit, with the first stage designed for recovery and reuse.

The company's development approach began with Miura 1, a single-stage suborbital demonstrator intended to validate core technologies including propulsion, avionics, and recovery systems. PLD Space manufactures its own TEPREL-C kerosene-LOX engines in-house, targeting production rates of one engine every two weeks by the end of 2025. The company has established a launch complex at the Guiana Space Centre in Kourou, French Guiana, with €35 million invested in infrastructure development through 2026.

PLD Space has secured over €350 million in total funding, including a €180 million Series C round in March 2026 led by Mitsubishi Electric Corporation, which also became a strategic customer. The company represents a significant European private space initiative, positioning itself as a commercial alternative to traditional institutional launch providers and supporting Europe's strategic autonomy in space access amid increasing global competition.

MIURA 1

Miura 1 is a single-stage suborbital reusable rocket designed to validate technologies for the orbital Miura 5 vehicle. The vehicle serves as a testbed for propulsion, recovery systems, and flight dynamics. Miura 1 is designed for vertical takeoff and landing, enabling payload missions to suborbital altitudes for microgravity research and technology demonstration. First flight: 7 October 2023 (SN1, suborbital test flight from El Arenosillo — 306s flight, ~46km apogee; booster recovery failed on splashdown).

MIURA 5

Miura 5 is PLD Space's orbital launch vehicle, a two-stage reusable rocket designed to deliver small-to-medium payloads to orbit. Payload capacity: 1,000 kg to LEO; 700 kg to SSO. The first stage is designed for powered descent and recovery, enabling reuse to reduce operational costs. Miura 5 is powered by TEPREL-C engines burning kerosene and liquid oxygen. The vehicle has completed Stage 1 burst testing (September 2025) and is targeting a first flight in late 2026 from the Guiana Space Centre. Launch site: Kourou, French Guiana. Status: In development; first test flight expected late 2026.

MIURA Next Family

In October 2024, PLD Space unveiled an expanded product roadmap including three additional rockets and a crew capsule. The Miura Next family includes configurations designed for heavier payloads and eventual human spaceflight capability, with the Miura Next Super Heavy variant targeting up to 53,000 kg to LEO. Status: Concept phase; development timeline not disclosed.

TEPREL-C Engine

PLD Space's in-house developed rocket engine burning RP-1 kerosene and liquid oxygen. The company set a production cadence target of one engine every two weeks by end of 2025, supporting serial production for Miura 5. Application: Miura 5 first and second stages.

Heritage

2011: PLD Space founded in Elche, Spain, by Raúl Torres and Raúl Verdú.

2019: Company announced development of Miura 1 suborbital vehicle and began testing of TEPREL propulsion systems.

2021-2023: PLD Space conducted extensive ground testing of engines and vehicle subsystems, securing European Space Agency contracts and early commercial customers.

September 2025: Completed Miura 5 Stage 1 burst test, a critical structural validation milestone.

October 2025: Announced a target of one TEPREL-C engine every two weeks by the end of 2025, demonstrating manufacturing scalability plans.

February 2026: Secured first commercial launch contract with Sateliot for two 5G direct-to-device satellites on a dedicated Miura 5 flight in 2027.

March 2026: Closed €180 million Series C funding round led by Mitsubishi Electric Corporation, the largest European space funding round announced that year. Total disclosed funding exceeded €350 million.

April 2026: Secured €30 million loan from the European Investment Bank to support ongoing development.

June 2026: Announced €35 million investment in launch complex infrastructure at Guiana Space Centre in Kourou, bringing total facility investment through 2026 to that amount. Construction began in 2025 with completion expected in 2026.

Roadmap

PLD Space is targeting the inaugural flight of Miura 5 in late 2026 from the Guiana Space Centre in Kourou, French Guiana. The company is completing construction of its dedicated launch complex at CSG with €35 million invested through 2026.

The first commercial mission is contracted with Sateliot for 2027, launching two 5G direct-to-device satellites on a dedicated Miura 5 flight. PLD Space is ramping serial production of its TEPREL-C engines and Miura 5 vehicles to support anticipated launch cadence.

Beyond Miura 5, the company has announced the Miura Next family of heavier-lift vehicles, including a Super Heavy variant capable of delivering 53,000 kg to LEO and a crew capsule for human spaceflight. Development timelines for these systems have not been publicly disclosed.