Chancellor announces £10m for SaxaVord Spaceport in budget

SaxaVord Spaceport has welcomed a £10m UK government funding boost.

Chancellor Jeremy Hunt confirmed the funding in today’s (Wednesday) budget speech.

SaxaVord said the funding would help accelerate its work to ensure it is ready for the UK’s first ever vertical orbital launch later this year.

Chief executive Frank Strang thanked government ministers and the UK Space Agency “for their confidence in SaxaVord”.

“Their support today for both the new space economy and ourselves at SaxaVord will help ensure that the UK leads the way in European spaceflight,” he said.

“The global space industry is valued at $530bn annually and rocket company Rocket Factory Augsburg’s launch at SaxaVord this summer will put the UK at the forefront of what is one of the world’s fastest growing sectors – bringing jobs, investment and opportunity.” 

SaxaVord was granted its spaceport licence in December.

It has already secured around £40m in private investment.


Add Your Comment
  • Alan Carroll

    • March 6th, 2024 17:10

    Not before time. To think that a strategically critical asset has had to rely entirely on Anders Povlsen, a Danish national, and private investment illustrates all too graphically the absence of strategic thinking by government at all levels. An absolute travesty.

    • Neil Williamson

      • March 6th, 2024 19:01

      He only funded this to hinder it happening on his land in mainland Scotland – No travesty, except for us in Shetland.

      • Alan Carroll

        • March 8th, 2024 14:49

        Ridiculous assertion. Saxavord is the optimum site in the UK. Povlsen’s other properties would never be considered suitable for a licence to launch.

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