- Maritime Launch Services (NEO:MAXQ) announced a pivotal step forward in the development of Canada’s first commercial orbital spaceport
- The space launch industry company has received a conditional term sheet for a C$12.9 million contribution from the Government of Canada and the combined funding for the project would total C$26.0 million
- This funding is designed to support the ongoing development and commercialization of spaceport Nova Scotia
- Maritime Launch Services last traded at $0.08 per share
Maritime Launch Services (NEO:MAXQ) announced a pivotal step forward in the development of Canada’s first commercial orbital spaceport.
The space launch industry company has received a conditional term sheet for a C$12.9 million contribution from the Government of Canada’s Strategic Innovation Fund.
This funding is designed to support the ongoing development and commercialization of spaceport Nova Scotia, near the community of Canso.
Managed by Innovation, Science and Economic Development Canada, the fund works to foster innovative projects across various sectors and aims to enhance Canada’s competitiveness as a key player in the space industry.
Last year, Maritime Launch Services received a significant boost with a C$13.1 million investment from the Province of Nova Scotia through the Capital Investment Tax Credit. With the anticipated approval of the fund term sheet, the combined federal and provincial funding for the project would total C$26 million.
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 is developing Spaceport Nova Scotia, Canada’s first commercial launch site, near Little Dover, Nova Scotia.
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. 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 (NEO:MAXQ) last traded at $0.08 per share.
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