- Maritime Launch Services (Cboe CA:MAXQ) received approval from the Province of Nova Scotia to develop a satellite processing facility
- Maritime Launch has received approval for an initial qualification of up to C$7.5 million in reimbursements under the program for the satellite processing facility project
- The new satellite processing facility, situated next to Spaceport Nova Scotia, will provide comprehensive launch service support
- Maritime Launch Services last traded at $0.075 per share
Maritime Launch Services (Cboe CA:MAXQ) received approval from the Province of Nova Scotia to develop a satellite processing facility.
The space launch company’s project is eligible for reimbursement under the Capital Investment Tax Credit program, which provides financial advantages to corporations that invest in infrastructure and capital equipment for approved projects located in Nova Scotia.
Maritime Launch has received approval for an initial qualification of up to C$7.5 million in reimbursements under the program for the satellite processing facility project. Reimbursement is eligible to begin at the start of the construction of the satellite processing facility, planned for late 2024 and follows a C$12.9 million contribution from the federal government last month, as well as a separate application in September 2023 for a project at Spaceport Nova Scotia. Maritime Launch was approved for an initial qualification of C$13.2 million to develop Spaceport Nova Scotia’s launch vehicle integration facility on site, bringing the total to C$20.2 million in qualified projects under the provincial program.
“Our vision is to build a world-class spaceport,” Maritime Launch Services’ president and CEO Stephen Matier said in a news release. “This approval, coupled with the approval we received last year, underscores our shared commitment with the Province of Nova Scotia to foster economic development in rural areas like Canso, Hazel Hill, and Little Dover. Spaceport Nova Scotia will establish Canada as a competitive player in the global space market.”
The new satellite processing facility, situated next to Spaceport Nova Scotia, will provide comprehensive launch service support, including top-tier logistics, frequency assignment help, integration expertise, and thorough testing and verification processes. These services will simplify satellite operations, improve mission efficiency, and deliver exceptional launch service support to satellite clients as they prepare for launches from Spaceport Nova Scotia.
As Maritime Launch Services prepares for its inaugural orbital mission in 2025, Spaceport Nova Scotia is initially set to support small-class launch vehicles with payloads under 1,250 kilograms. The site is planned to evolve to accommodate medium-class launchers, enhancing its capacity and market reach. This progression aligns with Maritime Launch’s vision of establishing a robust, commercially viable spaceport that caters to a wide range of launch needs.
Maritime Launch Services Inc. is a commercial space company that will provide satellite delivery services to clients in support of the growing commercial space transportation industry over a wide range of inclinations. The team is developing Spaceport Nova Scotia, Canada’s first commercial launch site, near Little Dover, Nova Scotia.
Spaceport Nova Scotia will allow small- and medium-sized launch vehicles to place their satellites into low-earth orbit. Spaceport Nova Scotia is Canada’s first commercial orbital launch complex.
Maritime Launch Services (Cboe CA:MAXQ) last traded at $0.075 per share.
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(Top image: Maritime Launch Services Inc.)
