Island investment

Space centre close to lift-off after £2m private equity boost

A satellite launch site and ground station will be built at Unst

Shetland Space Centre’s plan to build and operate the UK’s only satellite launch site has been given a major boost by a £2.05 million investment from international private equity firm Leonne International.

The cash injection, which gives Leonne a 20% stake in the business, will be used to help develop the site and ground station at the most northerly tip of Britain – the island of Unst in Shetland.

This was identified in the Sceptre 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’s integrated business model creates revenues from launch, ground and tourism.

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. SSC does not anticipate any major environmental issues.

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.

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