Shetland spaceport project secures £30m of UK government investment
The funding will be used to build two more launchpads.
Shetland spaceport project secures £30m of UK government investment
The funding will be used to build two more launchpads
The UK government has announced a £30m investment in SaxaVord Spaceport in Shetland as part of a new national space strategy.
A spaceport spokesperson described the funding as a "hugely significant" show of confidence and said it would unlock a further £30m of private investment.
Several companies are hoping to use SaxaVord in Unst, the UK’s northernmost point, as a launch site for small commercial rockets.
A government spokesperson said space was "an increasingly important domain" for keeping the country safe.
The spaceport sits on a former RAF base in Unst
SaxaVord is the UK’s first fully-licensed spaceport and has regulatory approval for up to 30 rocket launches a year.
The company said the £60m public-private investment package would go towards designing and building a second hangar and two additional launchpads.
Chief executive officer Scott Hammond said the funding would move the company to the next stage of its development.
"We are building the spaceport for the thousandth as much as the first launch," he said.
"We're trying to create a successful, safe and sustainable business. This is direct investment into Shetland."
Two German companies have signed launch agreements with the spaceport.
Rocket Factory Augsburg (RFA) is working towards its first vertical orbital test flight from UK soil. In August, SaxaVord paused plans for a test launch after RFA said it had "encountered an issue".
A five-week "launch window" had been due to start, with temporary traffic restrictions put in place in case of a flight attempt.
A second company, HyImpulse Technologies GmbH (HyImpulse), plans to carry out the second flight of its SR75 suborbital launch vehicle from Shetland this year.
The German firm recently secured investment of more than €50m (£43)
HyImpulse is one of two German companies with launch agreements
SaxaVord Spaceport has confirmed that it is in discussions with other companies.
The UK government said the new space strategy would "drive growth, strengthen security and back the technologies that underpin modern life".
Ministers said they wanted to create jobs and help Britain and its partners launch satellites without relying on countries "further afield".
The money for the Shetland project is part of a £148m investment across Europe which ministers said would help UK space technology firms secure more work.
Scottish Secretary Douglas Alexander said: "Scotland already builds more satellites than anywhere else in Europe, and with a £30m UK government investment boost, SaxaVord is now poised to deliver up to three-quarters of the continent's orbital launch slots."
He added that defence, security and economic growth were at the heart of the plan.
Lise Kaae, chief executive of Heartland, which has a majority stake in SaxaVord Spaceport through its investment arm Wild Ventures, said: "We are very pleased to welcome the UK government as an investor and partner."
The investment is subject to due diligence and final sign-off.