Hundreds of new jobs after satellite firm’s £15m boost

A SATELLITE company will take on hundreds of new workers after winning one of the largest grants handed out by Scottish Enterprise.

Glasgow-based Spire Global will receive £14.7million, with the firm saying the cash would allow it to expand and take on 260 workers over the next five years.

First Minister Nicola Sturgeon announced the grant, saying it showed Scotland could be ‘Europe’s leading space nation’.

Scottish Enterprise said the award – made up of £6.7million of Regional Selective Assistance funding and an £8million commercial convertible loan note from the Scottish Investment Bank – was an ‘unprecedented level of funding’.

Spire Global, which currently employs 60 people, builds, tests and operates nanosatellites that monitor aviation, maritime and weather patterns.

The additional money will help fund a move to new 40,000sq ft premises in the city’s Skypark centre, as well as supporting an increase in the workforce to 320.

Miss Sturgeon said: ‘Our space sector is already punching above its weight, with almost one-fifth of all UK jobs in this industry based north of the Border and Scotland producing more small satellites than any other country in Europe.

‘This £14.7million investment will create dozens of high-tech and highly skilled jobs and training opportunities in Scotland’s space sector.’

Spire Global chief executive Peter Platzer said: ‘Glasgow has been a fantastic location for us, with exceptional talent and people with a phenomenal “can-do” attitude. We’re excited to substantially expand our presence here.’

Charlie Smith, of Scottish Enterprise, said: ‘Spire Global’s expansion plans for Glasgow are incredibly exciting and will provide a huge boost to the Scottish economy.’