News Summary

Brampton-based MDA Space has made a significant $10 million investment in Maritime Launch Services to support the development and operations of Spaceport Nova Scotia. This strategic partnership marks a crucial step in establishing Canada’s sovereign launch capabilities. MDA Space’s investment will be utilized for research and development initiatives, enhancing the reliability and responsiveness of the launch operations. Maritime Launch, founded in 2016, is competing in the commercial space race on Canada’s Atlantic coast and aims to provide satellite launch services for both Canadian and global clients. The company has faced project delays and is actively securing capital, including a recent $10-million credit facility from Export Development Canada. MDA’s involvement includes certain rights, such as board representation and future financing participation, which underscores its commitment to the project’s success. This move comes amidst MDA facing challenges in the spacetech sector, including competition from Elon Musk’s SpaceX.