SaxaVord seals £60m deal to finish UK's only licensed spaceport
What's the deal? SaxaVordDealroom has a profile for this one. Try Dealroom → Spaceport has finalised a £60 million public-private funding package to complete infrastructure at its Lamba Ness site on Unst, Shetland. The deal combines £30 million from the UK Government with a matching £30 million from Wild VenturesDealroom has a profile for this one. Try Dealroom →, SaxaVord's largest shareholder. It confirms an agreement first outlined in September.
Where the money goes: The funding will finish three launchpads, mission management facilities, and a second integration hangar to support multiple rocket operators. SaxaVord holds regulatory approval for up to 30 launches a year at the UK's only licensed vertical launch spaceport.
Who's backing it? Wild Ventures, the investment arm of HeartlandDealroom has a profile for this one. Try Dealroom →, has supported SaxaVord since 2020, helping convert a former RAF radar station into launch infrastructure. Its commitment underwrites the programme in full but is structured so other investors can take up part of it. "We are very pleased to welcome UK Government as an investor and partner in SaxaVord," said Lise Kaae, chief executive of Heartland.
Why now? The UK Government's Space Strategy, published in September and backed by £7.8 billion through 2030, places SaxaVord at the centre of Britain's domestic launch capability. The Shetland site featured in recent talks between the UK Prime Minister and German Chancellor in Berlin, which named it as a potential hub for European launch capability.
What could go wrong? The financing backs infrastructure, not a proven launch business — SaxaVord has yet to host a rocket launch. Germany's Rocket Factory Augsburg postponed its planned 2026 test flight after identifying an issue during preparations. HyImpulse, which secured its UK launch operator licence in October, is targeting spring 2027 for its first flight.
The signal: The deal materially improves SaxaVord's readiness and signals government intent to secure sovereign access to space. But its commercial payoff will depend on launch providers delivering flights and winning repeat missions — a milestone the site has not yet reached.
Read more: industrialnews.co.uk
Image credit: Generated with Gemini
