Advanced Television

Scotland’s SaxaVord spaceport pays old invoices

January 8, 2024

By Chris Forrester

Following on from the granting of permissions by the UK’s Civil Aviation Authority (CAA), Scotand’s SaxaVord rocket launch facility has raised an additional £2.25 million in funding and helping to pay contractors who quit the site back in July complaining of unpaid invoices.

The CAA permission was crucial and allows SaxaVord to handle 30 launches per year from the remote location on Unst, a small island off the Northern coast of Scotland.

Reports back in November stated that SaxaVord owed more than £1 million to various contractors for work carried out.

Speaking to the Shetland News on December 17th 2023, SaxaVord CEO Frank Strang admitted that the company had run into funding troubles, which had delayed work on the spaceport.

According to filings with the UK’s Companies House, and reported by European Spaceflight, Shetland Space Centre Ltd, the company behind SaxaVord, filed a statement of capital following an allotment of shares on 15 December that indicated that it had raised £2.25 million in fresh funds. Some of this funding has begun to trickle into the accounts of the main contractor (DITT) and its subcontractors.

Categories: Articles, Business, Funding

Tags: ,