The proponent for a proposed spaceport near Canso, says it has secured $10.5 million in
A Cyclone 4M Rocket from Ukraine that will be used by Maritime Launch Services to send satellites into space from the Canso/Hazel Hill area.
financing from a Toronto investment bank. Maritime Launch Services says the funding from PowerOne Capital Markets will allow the company to achieve first flight of a small class launcher next year. The first launch using the Cyclone 4M medium class rocket will take place in 2023, according to a company news release.
Construction of the complex will begin in the fall.
The company plans to use its spaceport to place satellites into low-earth orbit. MLS intends to have eight to ten launches a year.