What does Europe have to offer the space industry? Groundbreaking innovations in Asia and the US—like SpaceX’s reusable rockets—set the bar high. Now, a young Spanish startup is reaching for the stars, offering an exciting alternative!
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00:00Lots of smoke, tension and cheers, all thanks to two college friends.
00:08A year ago, their Spanish start-up, PLD Space, caused quite a stir.
00:13The successful test flight of their small rocket set a new benchmark
00:17for Europe's growing private space sector.
00:20It was an incredible experience.
00:23We showed the world we could do things that seemed theoretically impossible.
00:28The heart of private space exploration beats in Elche, near Alicante,
00:34better known for its palm trees than its rockets.
00:37The firm's founders met in college.
00:42We were space geeks, and when we saw companies like SpaceX and Blue Origin
00:47emerging in the U.S., we were in college building model rockets.
00:51Going from models to a real rocket was a long and rocky road.
00:57The founders raised their first funds from friends, neighbors
01:00and even local retailers in Elche.
01:03Both private and state investors initially turned them down.
01:07They said it wasn't possible, that we lacked experience,
01:11it was too costly, too difficult.
01:14Others had tried and failed, but we chose to take the risk and keep going.
01:19Their persistence eventually impressed larger investors.
01:23The founders poured significant funds into developing their own engine,
01:28but four years ago it exploded during testing.
01:33It really damaged our trust and credibility with shareholders and the team.
01:38We faced a bitter winter and had to cut staff,
01:42which is the worst thing that can happen to an entrepreneur.
01:48The team didn't give up, improving the engine until the next test was flawless.
01:59Their relief was palpable.
02:05In 2023 they prepared for the Miura 1 launch.
02:09It kept being delayed till October when things came together.
02:13With its micro-launcher that can carry 100 kilograms,
02:16PLD Space's high-flying plans took off at last.
02:22Not just launching, but following the precisely programmed path
02:25proved to the world we can achieve anything.
02:30With newfound confidence, they paused the Miura 1 program to think bigger.
02:34Now the focus is on the Miura 5,
02:37a rocket with a cargo capacity of up to 600 kilos.
02:41Set to launch in a year, over 250 people are working on it.
02:45PLD Space's co-founder says they're the European leader.
02:50We offer the most reliable service in the industry today.
02:53In other words, we're the most reliable company in the industry.
02:57That first successful launch was no accident.
03:00We chose the most advanced and dependable technologies available.
03:05But the bigger question remains.
03:07Are private space companies just expensive experiments,
03:10or do they serve a real purpose?
03:14I think it's only leading to some significant changes,
03:17whereby government agencies are no longer relying 100% on their legacy vendors,
03:23namely Ariane or Vega, Avio,
03:26but are opening their tenders to newcomers to test and learn,
03:30and sometimes fail with them, to support them
03:32and bring a much more diversified supply base in launch.
03:36It's about independence.
03:37The European Space Agency is now working with PLD Space,
03:41while the Spanish government has allocated over 40 million euros
03:45from EU recovery funds for the Miura 5 project.
03:50While institutional support played a fairly small role,
03:54it was the necessary lever to secure private investor backing.
04:01And their ambitions don't stop there.
04:03PLD Space plans to send even heavier payloads into orbit in the coming years.
04:09By 2028, their rockets will no longer land in water,
04:13but vertically on solid ground, just like SpaceX,
04:17making their business model more profitable.
04:21They even want to send astronauts into space.
04:26The Lince project is designed to carry up to five crew members.
04:30A crazy idea?
04:34Our plans may sound crazy, but they're actually low risk,
04:37because we're progressing step by step.
04:41From Miura 1 to Miura Next and beyond,
04:44the final chapter will be a crude launch.
04:48But we're talking about a 10 to 15 year timeline, not tomorrow.
04:53This isn't just an internal vision, it's also a response to market demand.
05:01To turn these dreams into reality,
05:04PLD Space has to deliver.
05:06First up, the Miura 5, expected to lift off by late 2025.
05:11If the launch fails, they have the funds for a second attempt.
05:15If they succeed, they say orders worth 600 million euros are already waiting.