Maritime Launch Services to launch vehicle and site construction
Maritime Launch Services (MLS) Ltd. announced that it has closed financing for gross proceeds of $10.5 million.
The financing was led by PowerOne Capital Markets Limited and Primary Capital Inc. The proceeds of this financing will enable MLS to achieve first flight heritage in 2022 of a small class launcher and mature the site and the Cyclone 4M medium class launch vehicle for launch in 2023 from its complex near Canso, Nova Scotia.
“We are thrilled with today’s announcement as it advances our initiative to disrupt the launch industry by giving our clients an affordable price per kilogram and just as importantly, the ability to deliver their payloads to space when they want them and where they want them,” said Steve Matier, President and CEO, MLS. “We are grateful for the dedication and support of many, beginning with the people of Canso and the surrounding community to our investors, customers, government, suppliers and engineering support teams that have backed our initiative from the beginning. We are looking forward to starting construction, ramping up operations and finalizing our launch vehicle offerings.”
The medium class launch vehicle, the Cyclone 4M, has a five-ton satellite payload capacity and four-metre fairing.