Halifax, Nova Scotia: Maritime Launch Services Inc. (Cboe CA: MAXQ; OTCQB: MAXQF) announced that Export Development Canada (EDC) has provided a $10 million senior credit facility to accelerate development of Spaceport Nova Scotia in support of its move toward first orbital launch operations.
“This commitment by EDC marks another major step forward for Maritime Launch and Canada’s growing commercial space sector,” said Stephen Matier, President and CEO of Maritime Launch Services. “EDC’s support helps us advance the build-out of Spaceport Nova Scotia as we prepare for orbital launch operations. Together, we’re demonstrating that Canada can achieve sovereign launch capability, an essential milestone in building a competitive and resilient space ecosystem in Canada.”
EDC—Canada’s export-credit agency founded in 1944—provides trade financing, insurance and market expertise to help Canadian firms grow globally. As part of its strategy, EDC commits strategic risk capital to infrastructure projects that enable trade and national resilience. The financing support for Spaceport Nova Scotia is intended to bolster Canada’s defence and security posture, where space plays an increasingly vital role.
“EDC is focused on deploying our capital to sectors and projects of strategic national importance to Canada, which is why we are proud to support Maritime Launch as it develops Canada’s first commercial spaceport,” said Alison Nankivell, President and CEO of EDC. “This critical infrastructure will help Canada achieve sovereign launch capability for satellites, which will support a range of needs such as defence and security, telecommunications, weather monitoring and more.”
The terms of the agreement provide development funding for Spaceport Nova Scotia’s next phase of infrastructure construction, including launch-pad facilities and supporting assets necessary for future orbital missions. The $10 million facility includes an initial $5 million advance at closing, with the remaining balance available via drawdowns aligned with construction and development costs.
“The support is proof that Nova Scotia is becoming a hub for innovation, technology and opportunity,” said Jaime Battiste, Member of Parliament for Cape Breton-Canso-Antigonish. “The continued progress at Spaceport Nova Scotia will bring new economic activity to our rural communities, inspire young people and position Canada as a leader in the global space ecosystem.”
Located near Canso, Nova Scotia, Spaceport Nova Scotia will offer reliable and cost-effective satellite-launch services for Canadian and international clients.
Maritime Launch Services, headquartered in Nova Scotia and listed as MAXQ and MAXQF, is developing Canada’s first commercial orbital-launch complex and operates globally. EDC, as a Crown financial corporation, supports Canadian firms in export-driven growth and strategic infrastructure.
Convenience retail is becoming an increasingly data-driven business, with operators balancing tight margins, shifting consumer…
As enterprises have moved more workloads into virtualised environments, the hypervisor has become a critical…
Rally Saudi Arabia will not form part of the 2026 FIA World Rally Championship due…
Outdoor footwear is increasingly expected to do more than perform on a trail. Consumers move…
The non-alcoholic beverage market is beginning to move beyond the simple promise of drinking less.…
For clean-energy technology companies, sustainability reporting is increasingly moving beyond a compliance exercise. Investors, customers…