PLD Space
Spanish private space company developing partially reusable launch vehicles and launch services for suborbital research and small satellites.
Last updated August 24, 2026
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Overview
PLD Space, legally Payload Aerospace S.L., is a privately held Spanish space company founded in 2011 in Elche by Raúl Torres, Raúl Verdú and José E. Martínez. The company develops liquid-propellant launch vehicles, propulsion systems and associated launch infrastructure, with a focus on providing dedicated access to space for scientific payloads, technology demonstrations and small satellites. Its launch-vehicle program is centered on the Miura family. Miura 1 is a single-stage suborbital rocket designed for research and technology-development missions in microgravity and the upper atmosphere. It is also intended to serve as a technology demonstrator for the larger Miura 5 orbital launcher. Miura 1 uses the TEPREL-B liquid engine, developed and manufactured by PLD Space, and was designed from the outset with recovery and reusability in mind. The vehicle’s first launch took place from the El Arenosillo Test Centre in Spain on 7 October 2023. Miura 5 is the company’s planned orbital small-launch vehicle. It is designed to carry small payloads, including CubeSats and other spacecraft requiring a dedicated or flexible launch opportunity rather than rideshare capacity on a larger rocket. Reference material describes a two-stage architecture using five TEPREL-C engines and a target payload capacity in the approximate range of 900 to 1,080 kilograms to low Earth orbit, depending on the stated vehicle configuration and source. PLD Space has pursued launch-site and infrastructure arrangements in French Guiana and Spain to support the program. The company’s technical base includes propulsion testing at Teruel Airport, where it conducted Spain’s first liquid rocket-engine test in 2015. Its facilities have expanded from engine testing toward complete-vehicle testing, manufacturing, integration and launch operations. PLD Space has also worked with Spanish, European and French institutional organizations, including the Instituto Nacional de Técnica Aeroespacial, the European Space Agency, the European Commission, the German Aerospace Center and France’s CNES. Beyond Miura 1 and Miura 5, the company has described longer-term concepts including the Miura Next family of larger partially reusable launch vehicles and Lince, a proposed cargo and crewed spacecraft concept. These projects indicate an ambition to progress from small-launch services into broader launch-system and space-transportation capabilities, although their development and operational status differ from the more established Miura programs. PLD Space has financed its development through private investment, public research support and institutional programs. Reported funding has included investment rounds, Spanish government-backed technology support, European Commission grants and ESA projects. The company’s positioning is that of a European launch-vehicle developer combining proprietary liquid propulsion, domestic industrial capabilities and dedicated small-payload launch services. It remains a private, active aerospace company headquartered in Elche, with engineering, manufacturing, propulsion-testing and launch-site activities distributed across Spain and partner facilities in Europe.
History
PLD Space was established in 2011 in Elche, Spain, by Raúl Torres, Raúl Verdú and José E. Martínez. From its beginning, the company concentrated on liquid-propulsion technology and the development of launch vehicles intended to serve the emerging small-satellite market. Its strategy combined proprietary propulsion development with the design of recoverable or partially reusable launch systems. A major early technical milestone came at the company’s propulsion test facilities at Teruel Airport. On 1 July 2015, PLD Space tested a liquid-fuel rocket engine there. The test was described as the first liquid rocket-engine test conducted in Spain and the first such test by a private European company at its own facilities. The Teruel site subsequently became an important part of the company’s propulsion-development and launcher-qualification activities. PLD Space’s early development was supported by a mixture of private investment and public or institutional programs. In 2013, the company completed an investment round that included a Spanish government-backed seed contract through the Centre for the Development of Industrial Technology. In 2015, it became a partner in the Small Innovative Launcher for Europe program involving the European Commission and the German Aerospace Center, with work focused on testing liquid-propulsion engines. In 2016, Spain’s TEPREL reusable-launcher-engine program provided additional support for development of a liquid engine intended to support the small-satellite launch sector. The European Space Agency selected PLD Space in 2016 as prime contractor for a Liquid Propulsion Stage Recovery project under the Future Launchers Preparatory Programme. The project examined approaches for recovering a launcher’s first stage and thereby improving reusability. In January 2017, the company closed another investment round, with GMV among the participants. GMV also took responsibility for avionics-related work covering guidance, navigation and control, telemetry and onboard software for the Miura vehicles. In 2018, PLD Space received support through the European Commission’s Horizon 2020 SME Instrument and was selected by ESA for a microlauncher feasibility study. The company expanded its physical infrastructure during this period. In August 2017, its headquarters moved to facilities in Elche Industrial Park, where Miura 1 assembly activities were located. In August 2018, PLD Space and the Teruel Airport Consortium agreed on a long-term concession covering land for launcher-technology testing. The planned infrastructure included a control room, offices, access routes, an engine-maintenance hangar and an additional test bench. In November 2018, PLD Space reached an agreement with the Instituto Nacional de Técnica Aeroespacial to use facilities at the El Arenosillo Test Centre for Miura 1 launch activities and Miura 5-related testing. International cooperation became increasingly important as the company prepared for orbital operations. In July 2019, PLD Space and CNES agreed to study Miura 5 launches from the Guiana Space Centre. The company also examined Spanish launch-site options, including El Hierro. In September 2020, PLD Space announced a reported €7 million Series B financing from Arcano Partners. The company continued developing Miura 1 as a suborbital demonstrator and Miura 5 as an orbital launcher for small payloads. Miura 1 was designed as a single-stage suborbital vehicle powered by PLD Space’s TEPREL-B engine. Its intended missions include microgravity research, upper-atmosphere experiments and technology demonstrations. It also serves as a development bridge to Miura 5, allowing the company to validate propulsion, avionics, flight operations and recovery-related technologies. The first Miura 1 flight occurred on 7 October 2023 from El Arenosillo. Miura 5 is planned as a two-stage orbital launcher using TEPREL-C engines. It is intended to provide dedicated access to low Earth orbit for small satellites and other payloads that may not fit the schedule, orbital requirements or business model of conventional rideshare launches. Reference material gives a payload objective of approximately 900 to 1,080 kilograms to low Earth orbit. PLD Space has also presented the Miura Next family, a future range of larger partially reusable vehicles, and Lince, a proposed cargo and crewed capsule concept. These concepts extend the company’s stated ambitions beyond the initial small-launcher market, but they remain distinct from the Miura 1 flight program and the planned Miura 5 service. By June 2024, reference material reported that PLD Space had raised approximately €120 million in cumulative funding. The company remains privately held and active, with its principal base in Elche and additional propulsion, launch and development activities connected with Teruel, El Arenosillo and the Guiana Space Centre.
- 2024
Reported cumulative funding reaches approximately €120 million
[1]Reference material reported that PLD Space had raised approximately €120 million in total funding by 1 June 2024.
- 2023
First Miura 1 flight
[1]Miura 1 launched from the El Arenosillo Test Centre on 7 October 2023 at 00:19 UTC.
- 2020
Series B financing
[1]PLD Space secured reported Series B funding from Arcano Partners.
- 2019
Miura 5 launch-site cooperation
[1]PLD Space reached an agreement with CNES to study Miura 5 launches from the Guiana Space Centre and continued work with Spanish institutions on launch-site options.
- 2018
Teruel testing concession and institutional studies
[1]PLD Space agreed on a long-term testing concession at Teruel Airport and participated in ESA and European Commission-supported microlauncher development work.
- 2017
Elche headquarters expansion
[1]The company moved its headquarters to facilities in Elche Industrial Park, including assembly capacity for Miura 1.
- 2016
ESA recovery-stage project
[1]ESA selected PLD Space as prime contractor for a Liquid Propulsion Stage Recovery study under its Future Launchers Preparatory Programme.
- 2015
First Spanish private liquid-engine test
[1]PLD Space conducted its first liquid-fuel rocket-engine test at its Teruel Airport facilities, described as the first liquid rocket-engine test in Spain.
- 2013
Early investment and Spanish public support
[1]The company completed an early investment round that included a seed contract supported through Spain’s Centre for the Development of Industrial Technology.
- 2011
PLD Space founded in Elche
[1]Raúl Torres, Raúl Verdú and José E. Martínez founded PLD Space in Elche, Spain.
Products and positioning
European private launch-vehicle developer focused on partially reusable rockets, dedicated small-payload access to orbit and suborbital research missions.
Suborbital launch vehicle · 2023
Miura 1
Miura 1 is a single-stage suborbital launch vehicle intended for scientific research, technology demonstrations, microgravity experiments and upper-atmosphere work. It is powered by the TEPREL-B liquid engine, developed by PLD Space, and was designed with recovery and reusability as objectives. The vehicle also functions as a technology demonstrator for the company’s larger Miura 5 orbital launcher. Its first launch took place from the El Arenosillo Test Centre in Spain on 7 October 2023.
Orbital small-launch vehicle
Miura 5
Miura 5 is a planned two-stage orbital launcher for small payloads such as CubeSats. It is intended to offer dedicated and flexible access to low Earth orbit for customers whose requirements may not be well served by traditional launchers or rideshare missions. Reference material describes a design using five TEPREL-C engines and a payload capability of approximately 900 to 1,080 kilograms to low Earth orbit, depending on the cited configuration. PLD Space has studied launch operations from the Guiana Space Centre and Spanish sites.
Partially reusable launch-vehicle family
Miura Next
Miura Next is a proposed family of larger partially reusable launch vehicles. The concepts include a single-core base version, a three-core Heavy variant and a five-core Super Heavy variant. Reference material describes common booster architecture using multiple closed-cycle oxidizer-rich engines fueled by RP-1 and liquid oxygen, with composite-metal structural elements. The family is intended to extend PLD Space’s capabilities beyond the initial small-launcher class.
Cargo and crewed spacecraft concept
Lince
Lince, or Lynx, is a proposed spacecraft concept for cargo and crewed missions to low Earth orbit. Reference material describes a vehicle of approximately five tonnes, with capacity for up to four or five astronauts or several tonnes of cargo. It represents a longer-term expansion of PLD Space’s stated ambitions into space transportation beyond launch vehicles.
Liquid rocket propulsion
TEPREL engines
The TEPREL family comprises liquid rocket engines developed for PLD Space launch vehicles. TEPREL-B powers Miura 1, while TEPREL-C is associated with Miura 5. The propulsion program grew from Spanish reusable-launcher technology work and has been supported by engine testing at PLD Space’s Teruel facilities.
Brand decisions
2023
Fly the first Miura 1 vehicleProduct launchBackground
Miura 1 was intended to demonstrate PLD Space’s liquid propulsion, avionics, flight operations and recovery-related technologies before the company’s orbital Miura 5 program.
Action taken
PLD Space launched Miura 1 from the El Arenosillo Test Centre on 7 October 2023.
Aftermath
The flight provided an initial flight demonstration for the company’s suborbital program and its broader launcher-development roadmap.
2019
Study orbital launch operations from French GuianaStrategyBackground
Miura 5 required access to a suitable orbital launch site and institutional support for its planned small-payload service.
Action taken
PLD Space entered an agreement with CNES to study launches of Miura 5 from the Guiana Space Centre and pursued related Spanish launch-site options.
Aftermath
The company developed a European launch-site strategy spanning French Guiana and Spain.
2018
Expand Teruel Airport propulsion and launcher-testing infrastructureStrategyBackground
PLD Space needed additional facilities to progress from engine development toward integrated launcher testing and operational preparation.
Action taken
The company agreed with the Teruel Airport Consortium on a long-term concession covering space for a control room, offices, access infrastructure, an engine-maintenance hangar and a new test bench.
Aftermath
The agreement strengthened Teruel’s role as PLD Space’s propulsion and launcher-testing base.
Recent events
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