Spain’s GMV takes a stake in PLD Space’s reusable rocket quest

Spanish rocket startup PLD Space said Jan. 9 that it has raised the money it needs to continue development of its Arion 1 reusable suborbital launch vehicle thanks to a $7.1 million investment round lead by satellite ground systems provider GMV of Madrid, Spain.

Arion 1 is a kerosene-fueled, single-stage rocket designed to use a combination of parachute and propulsion to land after lofting its 200-kilogram payload into a 250-kilometer suborbital trajectory.





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