Spain's Miura 5 Rocket Nears First Flight as Canada Seeks Launch Cash

Two small rocket companies moved closer to orbit this month, one in Spain finishing hardware for a 2027 launch and one in Canada trying to raise enough cash to build two rockets at once, according to an October 23 Rocket Report from Ars Technica.

What is PLD Space's Miura 5 and when will it launch?

Miura 5, a small-lift rocket built by the Spanish company PLD Space, is "nearing final integration" ahead of its first flight, Aviation Week reported, as cited by Ars Technica. CEO Raúl Torres said in an October 19 program update that the company now targets a first flight before mid-2027.

How many rockets has PLD Space built?

Three. One is the vehicle meant to actually fly; the other two exist to qualify individual systems before that flight happens. "Manufacturing these three vehicles has allowed our teams to work continuously across different stages of production and integration, applying the lessons learned from each qualification campaign directly to the launch vehicle," Torres said.

The second stage of the flight rocket is fully integrated and sitting at PLD's Teruel test facility in Spain, where it will go through a wet dress rehearsal and a static hot-fire test — standard steps before any rocket is cleared to launch.

What is Reaction Dynamics raising money for?

Reaction Dynamics, a Canadian launch startup, is trying to raise $350 million, according to spaceQ, as cited by Ars Technica. The money would let the company grow its staff from 68 employees to more than 350.

What rockets is the Canadian company building?

Two. The first, called Aurora, is a small-lift rocket the company hopes will reach orbit in 2028. The second, a medium-lift rocket called Borealis, is planned for a 2031 debut and is designed to carry 6 tons to low-Earth orbit — a little under half of what Rocket Lab advertises for its Neutron rocket.

"We founded Reaction Dynamics because we believe Canada should be able to reach orbit on its own terms," founder and chief executive Bachar Elzein said. "Aurora is how we get to orbit in 2028. Borealis is how we deliver sovereign access to orbit, at scale, by 2031."

Ars Technica's report noted both target dates "appear to be highly aspirational."

By the numbers

• $350 million — funding target for Reaction Dynamics
• 68 to 350+ — planned staff growth at the company
• 6 tons — Borealis payload capacity to low-Earth orbit
• 3 — Miura 5 test and flight vehicles built so far

What happens next for each company?

For PLD Space, the near-term milestone is the wet dress rehearsal and static fire at Teruel, the final ground tests before a launch attempt. For Reaction Dynamics, the next step is closing the $350 million round, since both the 2028 Aurora launch and the 2031 Borealis debut depend on hiring and building out before either rocket can fly.

Neither company has set a specific launch date beyond the windows cited above, and both face the general risk every new rocket program faces: first flights of small-lift vehicles are routinely delayed by months or years industry-wide.

Full rocket-by-rocket details, including other items in this week's roundup, are available in the original Ars Technica Rocket Report.

Artiglio is A coming-soon iPhone chief of staff for briefings and drafts. Not on the App Store yet.