SaxaVord Spaceport has finalised a £60 million investment split between the UK government and Wild Ventures Ltd, marking a significant milestone in the development of the country's first licensed vertical launch spaceport. According to reporting from the Shetland Times, the funding will support completion of three launch pads, mission management infrastructure and a second integration hangar.

The announcement coincides with changes to SaxaVord's board structure. Debbie Strang, one of the spaceport's founding members, has stepped down as a director, though she remains deputy chief executive. Scott Hammond, chief executive and the only remaining founding director, described the investment as evidence of confidence in both SaxaVord and the broader UK space industry.

Funding secured for infrastructure completion

SaxaVord said the £60 million investment provides the "financial security needed to establish SaxaVord as a sustainable commercial spaceport." The capital will go towards completing the three launch pads, mission management infrastructure, and a second integration hangar.

Scott Hammond, SaxaVord's chief executive, said: "It is an enormous vote of confidence in what we have achieved and in the future of the UK space industry. We have built the country's first licensed vertical launch spaceport, and now we have the backing to turn that achievement into a successful long-term business."

He added: "We have always said that we are building SaxaVord for the thousandth launch as much as the first. Our ambition is to provide a safe, secure and trusted home for launch companies for decades to come."

Wild Ventures and UK Government partnership

Wild Ventures Ltd, a private investment company ultimately owned by Danish billionaire and Scottish landowner Anders Holch Povlsen, has been involved in SaxaVord since 2020. Lise Kaae, chief executive of Heartland (Wild Ventures' parent company), said: "We are very pleased to welcome UK government as an investor and partner in SaxaVord. Their commitment is a strong endorsement of the ambitions for the company, the spaceport in Shetland and the potential we have believed in for many years."

The UK Government's Space Strategy places SaxaVord at the centre of Britain's domestic launch capability, with the ambition of establishing it as Europe's leading site for polar and sun-synchronous missions.

Space minister Baroness Lloyd said: "By backing SaxaVord, we're taking a major step towards the first vertical launch from UK soil and strengthening the satellite services that people and businesses rely on every day. This deal is an early example of our new Space Strategy in action – backing the infrastructure, skills and technologies that will secure the UK's place as a leading space nation and open up new opportunities for investment and growth."

Launch operators and development path

SaxaVord is licensed to support up to 30 launches annually. Rocket Factory Augsburg (RFA) is working towards its first orbital test flight from the site, while HyImpulse is preparing for a sub-orbital launch campaign. The spaceport is also in discussions with additional launch service providers.

Governance changes and founding leadership

Debbie Strang, who has been involved in the project since the start, ended her term as director this week as part of changes to the company's board structure and governance arrangements. She was previously married to Frank Strang, who was the driving force behind the project before his death last year. SaxaVord said Ms Strang played a "fundamental role" in establishing the spaceport and that the company was "immensely grateful" for her contribution.

Of the three founding members, only Scott Hammond now serves as a director. SaxaVord described the board changes as reflecting "the next phase of its development."