The UK government has announced a significant investment of £30 million in SaxaVord Spaceport, Shetland, as part of a broader national space strategy. This funding signals strong confidence in the spaceport, expected to attract an additional £30 million in private investment.
SaxaVord, located in Unst—the northernmost point in the UK—aims to serve as a launch site for small commercial rockets. The UK government emphasizes the growing importance of space for national safety and strategic interests.
The total investment package of £60 million will be used to design and construct a second hangar and two additional launchpads. SaxaVord is the UK’s first fully licensed spaceport, with permission for up to 30 rocket launches each year.
CEO Scott Hammond noted that this investment will advance the company towards its goals, focusing on creating a successful, safe, and sustainable operation in Shetland. Two German companies, Rocket Factory Augsburg and HyImpulse Technologies, have also signed launch agreements with SaxaVord.
The UK government’s new space strategy aims to bolster economic growth, security, and technological advancement, with Scotland positioned to lead in satellite production across Europe. The investment remains subject to due diligence and final approval.
