MDA Space Makes $10 Million Investment in Maritime Launch
Becomes an Equity Owner and a Strategic Partner
A $10 million equity investment has been made by MDA Space in Maritime Launch Services Inc. at a price of $0.223 per share. The MDA Space investment in Maritime Launch Services marks a key milestone in advancing Canada’s sovereign launch capability, strengthening the country’s domestic space value chain, with complete capability from ground to orbit.
“Together, we are building a complete sovereign launch solution that strengthens Canadian innovation, drives economic growth, and enhances security in space.”
Stephen Matier, Maritime Launch Services
The equity investment will accelerate Spaceport Nova Scotia’s readiness for orbital launch operations, providing reliable domestic launch capability for commercial, civil, government, and defence clients in Canada. MDA Space expects to become an operational partner at Spaceport Nova Scotia, supporting the development and future operations of the spaceport.
“MDA Space’s investment and partnership come at a pivotal moment for Maritime Launch and for Canada’s space future,” said Stephen Matier, President and CEO of Maritime Launch Services. “By combining MDA Space’s world-class technical heritage with our operational focus at Spaceport Nova Scotia, we are creating the conditions our launch vehicle clients need: reliability, responsiveness, and integration across the full mission campaign. Together, we are building a complete sovereign launch solution that strengthens Canadian innovation, drives economic growth, and enhances security in space.”
Maritime Launch is a Canadian-owned commercial space company that is developing Spaceport Nova Scotia, Canada’s first commercial orbital launch complex. Located near Canso, Nova Scotia, on the Atlantic coast, Spaceport Nova Scotia is designed to provide responsive, cost-effective, and sustainable access to space for launch vehicle developers and satellite delivery services to low-Earth orbit over a wide range of inclinations from a single site.
“Maritime Launch has been methodically advancing the development of Spaceport Nova Scotia, focused on doing it right, with safety, community, and operational excellence, to address the needs of the domestic and global space ecosystem,” said Mike Greenley, CEO of MDA Space. “In a rapidly changing space industry, establishing sovereign launch capacity in Canada that will respond to the global demand for alternate launch capabilities on Canada’s Atlantic coast is important. This is an example of strategically located critical infrastructure that is needed. MDA Space is pleased to partner with Maritime Launch on this exciting new chapter for the Canadian space industry.”
Spaceport Nova Scotia is expected to create significant economic benefits in the Atlantic and across Canada, through high-quality jobs, local supply-chain development, and global investment attraction.
The transaction includes an Investor Rights Agreement, entered into between MDA Space and Maritime Launch, providing MDA Space with certain rights, including the right to nominate one individual to sit on the board of Maritime Launch and pro-rata participatory rights in future financings of the Spaceport. The investment will be used for applicable research and development initiatives relating to the ongoing development of Spaceport Nova Scotia and will trigger the retirement of convertible debentures.