HALIFAX, NS, May 12, 2021 /CNW/ – Maritime Launch Services Ltd. (“MLS” or the “Company”), owner of Canada’s first commercial spaceport, is pleased to announce 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 state-of-the-art complex near Canso, Nova Scotia. With construction to begin this fall, Maritime Launch’s commercial launch complex will be the first of its kind in Canada.
“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 of 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.”
Maritime Launch provides the necessary skills, assets, launch vehicle technology, and infrastructure to serve the rapidly growing commercial space launch requirements for satellites. Leveraging highly reliable and mission-proven launch vehicles designed by Yuzhnoye, Maritime Launch will offer the most efficient lift capacity to address the launch requirements of the fast-growing LEO space industry worldwide. The medium class launch vehicle, the Cyclone 4M, is right sized for today’s market with its 5-ton satellite payload capacity and 4-meter fairing.
“We have selected the most optimal location for our launch complex” said Matier. “Near the town of Canso, our launch site will provide a wide range of launch inclinations including optimal polar and sun-synchronous launch trajectories. Along with the creation of the launch site, we are looking forward to hiring a talented team and contributing indirectly to economic growth, including local infrastructure improvements and increased tourism”.
About Maritime Launch Services
Maritime Launch is a Canadian-owned commercial aerospace company based in Nova Scotia that has been executing a plan to establish a commercially controlled, commercially managed, launch site that would provide rocket launch services to clients, in support of the growing commercial space transportation industry over a wide range of inclinations. The development of this facility will allow the Cyclone 4M and other prospective launch vehicles to place satellites into low-earth orbit, building to a launch tempo of eight to ten launches per year. This will be the first commercial orbital launch complex in Canada.
Maritime Launch’s supplier, Yuzhnoye and Yuzhmash, are the developers of the Cyclone 4M rocket, and are proven leaders in the aerospace industry with over 65 years of experience. This expertise was most recently demonstrated with the successful Arianespace Vega launch on April 28, 2021 and the Northrop Grumman Antares launch on February 20, 2021. Both launch vehicles deploy significant Ukrainian technology; the 4th stage propulsion system and the first stage core, respectively.
About PowerOne Capital Markets
PowerOne is a fully integrated merchant bank and a long-term investor focused on providing early stage capital and advisory services to emerging growth companies. Since inception in 2003, PowerOne has assisted private and public companies across an array of sectors globally. Through a strong reputation in the investment community, broad network within the global markets, a unique “Partnership Approach” to assisting clients and a dedicated group of experienced professionals, PowerOne has been able to offer its clients exceptional advantages.
PowerOne is an Exempt Market Dealer and is registered in Ontario, British Columbia, Alberta, Saskatchewan, Manitoba, Nova Scotia and Quebec.
About Primary Capital Inc.
Primary Capital Inc is a Toronto based merchant banking organization that provides advice to Canadian growth companies. Primary Capital’s principals draw on decades of experience in the Canadian capital markets.
SOURCE Maritime Launch Services
For further information: Sarah McLean, NATIONAL Public Relations, email@example.com, 902.332.8040