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Shetland Space Centre satellite launch site receives £2million from Leonne International

Air February 24, 2020

The Shetland Space Centre (SSC) satellite launch site has received £2million in funding from private equity firm Leonne International.

The SSC plans to build a satellite launch site and has received the funding in exchange for Leonne International owning a 20% stake in the business. The cash injection will be used for the future growth of the company, such as the development of the launch site and ground station in Unst.

This was identified in the Sceptre Report, an independent report commissioned for the UK Space Agency, as the optimal location in the UK for launching small satellites into space, a rapidly growing sector of the international economy. SSC intends to create an international exemplar by developing a green space centre and showcasing that space and its numerous applications are a ‘force for good’ as well as creating employment and attracting new business opportunities to Shetland in particular.

CEO of the SSC, Frank Strang, said: “We are delighted to have Leonne International as a partner in realising the benefits of space exploration for the UK, and for Shetland’s economy: bringing jobs, revitalising the economy, attracting visitors and establishing Shetland as a northern hub supporting vertical launch and ground station activity.”

“Mike Haston and his team at Leonne International bring tremendous enthusiasm, drive and belief to the business which will turbo charge an already dynamic and fast moving project. Just as his grandfather Dougal, a thoughtful visionary and one of Scotland’s legendary rock climbers, pioneered Scottish winter climbing and conquered the world’s biggest and most dangerous mountains, I have no doubt that Mike will lead the way into this next frontier and help us conquer the new space economy for Britain.”

For the last two-and-a-half years SSC has been developing its plans and collaborating with space industry giants such as Lockheed Martin, Aecom and ArianeGroup and also working closely with legitimate industry newcomers such as Rocket Factory Augsburg and Skyrora, the Edinburgh-domiciled Scottish Launch Provider, Raptor Aerospace, B2Space and C6 as well as Scottish Enterprise, Strathclyde and Edinburgh universities and the Technical University of Munich. SSC’s integrated business model creates revenues from launch, ground and tourism.

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Post written by: Ciara Houghton