Maritime Launch Services is planning Spaceport Nova Scotia around a crowded launch schedule.
The Halifax company said Friday its longer-term goal is to support multiple launch companies operating their vehicles multiple times per year. To get there, it will keep building infrastructure for medium-class rockets alongside smaller ones. The outlook came with third-quarter results showing revenue of $5.6 million and net income of $3.5 million, compared with no revenue and a net loss of $5.7 million a year earlier.
Why it matters: Ottawa's Defence Industrial Strategy lists space launch among Canada's key sovereign capabilities. Spaceport Nova Scotia is a dual-use site built for both civil and defence missions, and the Department of National Defence is already a tenant.
Bigger rockets
The company calls capacity for medium-class vehicles a primary goal in the spaceport's development. It said that focus matches the broader growth of launch vehicles across the industry, and the Province of Nova Scotia has already approved it for construction.
Current site plans call for four launch pads. One is operational. The other three are being co-developed with customers in 2026 and 2027. The company said more pads could be added to support concurrent launches or different types of vehicles, including medium-class rockets.
The first orbital launch is targeted for 2028.
Waiting list
Maritime Launch said it's in active talks with multiple launch vehicle companies, more than the number of pads in the current phase. Their vehicles range in payload capacity from 150 kilograms to more than 15,000 kilograms.
Most of those companies need similar facilities, the company said, so construction of launch support infrastructure can keep moving while new contracts are negotiated.
"Demand for reliable launch capacity continues to grow rapidly, reinforcing the strategic importance of sovereign access to space," said Stephen Matier, president and CEO.
Beyond satellites
Over time, the company said, the spaceport could expand into ancillary markets. Those include launching larger vehicles, space tourism, and research and development for advanced propulsion systems and hypersonic vehicle launches.
Paying for it
Matier said the company feels it's well funded, with more than $29 million in cash and contractual payments coming from its launch partners.
Two deals signed this year anchor that revenue:
In March, Maritime Launch signed a 10-year, $200-million launch pad lease with National Defence, its first major long-term government customer commitment.
In July, it finalized a 10-year, US$112.5-million facilities usage agreement with Germany-based Isar Aerospace to build and operate a dedicated launch complex for Isar's Spectrum vehicle. The deal secured four payments of US$3.75 million in the first year, followed by a 30-month gap before payments resume.
In September, the two companies finalized the statement of work and programmatic milestones, moving the partnership into the infrastructure build-out phase. Contractor Nova Construction finished the road to the Isar launch pad on Nov. 1, meeting the contractual deadline.
For the nine months ended Sept. 30, revenue reached $12.1 million and net income was $5.7 million, compared with no revenue and a net loss of $6.9 million a year earlier. The company credited revenue from its new long-term agreements, covering both spaceport lease and launch services revenue.
Market moves
Maritime Launch began trading on the Toronto Stock Exchange this month. It expects to call a special shareholder meeting in the first quarter of 2027 to approve a share consolidation, with the ratio to be set by its board. The company said a consolidation could make its shares more marketable, expand its financing options and improve liquidity.
"Our focus is on executing for our existing customers, adding new launch partners and building Spaceport Nova Scotia into Canada's gateway to space," Matier said.
