Spaceport in Scotland scrapes overdue financial obligations
The rocket launch facility at SaxaVord, located on Unst - a small island off the Northern coast of Scotland - has received a much-needed boost, following the granting of permissions by the UK's Civil Aviation Authority (CAA). The CAA's approval, reported by European Spaceflight, has paved the way for SaxaVord to handle 30 launches per year and to launch rockets from a remote location. This permission is crucial for SaxaVord's operations, as it marks a significant step forward in the development of Scotland's spaceport. Shetland Space Centre Ltd, the company behind SaxaVord, recently filed a statement of capital following an allotment of shares on 15 December. This move resulted in the raising of £2.25 million in fresh funds, a fact reported by European Spaceflight in their news report. These new funds are helping to address the financial troubles at SaxaVord, which had delayed work on the spaceport. Shetland Space Centre Ltd is distributing these funds to the main contractor (DITT) and its subcontractors, with some of this funding already trickling into their accounts. This distribution is ongoing, and it has helped SaxaVord pay off the contractors who quit due to unpaid invoices, as reported in November. SaxaVord owes more than £1 million to various contractors for work carried out, and the additional funding has been instrumental in addressing this issue. The name of the main contractor involved in the payment of these unpaid invoices, however, remains undisclosed. SaxaVord's CEO, Frank Strang, admitted that the company had run into funding troubles, but the recent developments suggest that the spaceport is now on a more stable footing. With the CAA's approval and the new funds in hand, SaxaVord is well-positioned to continue its work in the burgeoning field of space travel.
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