Space sector ‘first’ for investment in Scotland

A strategic partnership has been announced to help drive more international investment into Scotland’s growing space sector.

Scottish Space Network has partnered with New York-based consultancy Sustainable Alpha to provide the global investment community with opportunities to support early-stage space technology companies in this country and beyond. The collaboration is believed to be a first for the Scottish sector and will initially focus on the industry’s financial needs and the development of a comprehensive investment strategy.

The announcement follows news in April that Moray-based rocket company Orbex had secured further funding of £16.7 million to complete work on the Prime microlaunch vehicle and spaceport, which is under construction in Sutherland. Last month, Edinburgh-based Aurora Avionics received more than £320,000 to further develop an off-the-shelf electronic navigation system to help reduce the cost of getting rockets to their destinations.

READ MORE: Orbex secures multi-million pound funding for Scottish rocket technology

Andy Campbell, who founded the Scottish Space Network in 2022, said the partnership with Sustainable Alpha would be the first of several “key collaborations” aimed at boosting support for the sector. It is also asking companies to share their future investment requirements to help the network tailor support for the industry.

“This partnership marks a significant milestone in our mission to position Scotland as a global leader in space innovation and financing,” he said.

“Combining our deep understanding of the local space ecosystem with Sustainable Alpha’s extensive investment network and venture capital expertise, we are committed to providing investment solutions that will drive technological progress and economic growth in this sector in Scotland and around the world.”

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Scotland’s space sector is expected to grow significantly, with expected revenues of £4 billion over the next six years. This is expected to create over 12,000 new jobs by 2030, bringing the number of workers in the country to around 20,000.

“We are excited to be working with the Scottish Space Network to create investment opportunities for the Scottish space sector,” said Ross Hamilton, founder of Sustainable Alpha.

“The global space supply chain is evolving and innovating rapidly, so it is imperative that we look across the UK, Europe and internationally to understand best-in-class solutions and where Scottish companies can be world-class leaders in the global ecosystem “.