Export Development Canada (EDC) has provided Maritime Launch Services with a $10 million senior credit facility to accelerate the development of Spaceport Nova Scotia and advance toward first orbital launch.
“This commitment by EDC marks another major step forward for Maritime Launch and Canada’s growing commercial space sector,” Stephen Matier, president and CEO of Maritime Launch Services, said. “EDC’s support helps us advance the buildout of Spaceport Nova Scotia as we prepare for orbital launch operations. Together, we’re demonstrating that Canada can achieve sovereign launch capability, an essential milestone in building a competitive and resilient space ecosystem in Canada.”
Alison Nankivell, president and CEO of EDC, said, “EDC is focused on deploying our capital to sectors and projects of strategic national importance to Canada, which is why we are proud to support Maritime Launch as it develops Canada’s first commercial spaceport, an important project that will advance Canada’s position in the global space economy. Our financing support for Spaceport Nova Scotia underscores our commitment to helping Canada’s economy become more resilient and competitive on the world stage and to fostering the growth of innovative Canadian companies. This critical infrastructure will help Canada achieve sovereign launch capability for satellites, which will support a range of needs such as defense and security, telecommunications, weather monitoring and more.”
The terms of the agreement provide development funding for Spaceport Nova Scotia’s next phase of construction, including launch pad and infrastructure development required to support future orbital missions.
“Canada’s leadership in space innovation is driven by strategic investments that strengthen our domestic capabilities and open new frontiers for growth. By advancing our space sector, we are building an ecosystem that supports good jobs, fosters technological excellence and enhances our nation’s economic resilience and security. These efforts ensure that Canadians and Canadian businesses can thrive and lead in the global space economy,” The Honourable Maninder Sidhu at Minister of International Trade said.
Jaime Battiste, member of Parliament for Cape Breton-Canso-Antigonish, said, “This support is proof that Nova Scotia is becoming a hub for innovation, technology and opportunity. The continued progress at Spaceport Nova Scotia will bring new economic activity to our rural communities, inspire young people and position Canada as a leader in the global space ecosystem.”
The $10 million senior credit facility includes an initial advance of $5 million at closing, with the remaining balance available through drawdown requests aligned with ongoing development and construction costs.
