Shetland Space Centre’s (SSC) plan to build and operate the UK’s only satellite launch site has gained £2.05m investment from Leonne International, an international private equity firm.
The investment gives Leonne a 20 per cent stake in the business. SSC’s integrated business model creates revenues from launch, ground and tourism. Shetland’s space economy is seen as a unique asset to the UK where it can support the work done by the other sector initiatives and clusters in the rapidly growing “New Space” economy.
SSC also has support from within the Unst and broader Shetland communities, as well as a proactive and supportive relationship with the local authority, Shetland Islands Council. Critically, the landowner and crofting community have recognised the benefits both locally and to Scotland and the UK and have agreed to lease the required land to the project and SSC does not anticipate any major environmental issues.
Frank Strang MBE, CEO of Shetland Space Centre, comments: “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.”
Developing a green space
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.
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 has also partnered with Goonhilly and the Cornwall Space Centre, ensuring the UK makes the most of its geography by having a space footprint at both its northern and southern tips. SSC is also working very closely with Faroese Telecom as it seeks to build relationships around the Arctic economy.