Maritime Launch Services (MLS), the company looking to build a spaceport in Nova Scotia, has received a letter of intent from an undisclosed launch company to use the spaceport, the company announced in a newsletter update today.
In the newsletter the company said “MLS has a signed Letter of Intent from a client that intends to use our spaceport for the launch of their own rocket. This company sees the market potential our site offers to launch smaller payloads into low earth orbit. While their launch vehicle is still under development, their intention is to tap the services MLS provides to be able to launch their rocket beginning in 4 to 5 years.”
The company also stated that it “is also working closely with new satellite clients that plan to put their payloads aboard the Cyclone 4M with new Letters of Intent being signed.”
It was a month ago that SpaceQ reported that MLS was close to submitting their environmental assessment report to the Nova Scotia government. Today the company said “Strum Consulting of Nova Scotia has completed all the data collection required for the environmental assessment and has compiled the report, which is currently being submitted to Nova Scotia Environment. Once submitted and accepted by Nova Scotia Environment, the government conducts a 50-day review which includes a 30-day period for public input.”
With respect to financing the company said “pacing MLS’s overall initiative is the capital raise required to construct a $100 million dollar launch complex. To that end, MLS is pleased to announce the engagement and partnership with Jacob Capital Management Inc (JCMI), based in Toronto, to lead the team of strategic and financial advisory services associated with MLS’s investor strategy. JCMI’s leadership has a strong track record globally and has participated in over $10 billion in equity financing across industries that include energy, mining, power & infrastructure, and technology solutions.”
MLS said it is making progress with working its Ukrainian suppliers. Specifically MLS reports that it “has also finalized its first phase of contracts with launch vehicle suppliers, Yuzhnoye and Yuzhmash. These contracts will continue the development of the Cyclone 4M and the launch complex design. Also in conjunction with Yuzhnoye, MLS has compiled a comprehensive design input document for the launch complex. This is an end-to-end design criteria for the development of the spaceport.”
The company also mentioned that it had intended to begin construction this spring but that “respectful of the time required in the process for site approval and mindful of the need to ensure capital is well secured, the schedule has been adjusted by a few months and updates will be provided as progress continues.”