Glasgow-based satellite company Spire Global has received one of the largest funding packages ever awarded by Scottish Enterprise.

First Minister Nicola Sturgeon made the funding announcement on a recent visit to the company. The company will use the investment to facilitate its move into new 40,000sq ft premises at Glasgow’s Skypark facility, and will expand its staff from 60 to 320 over the next five years.

The planned expansion will also focus on satellite platform development, satellite payload development, constellation software development and product software development and data science.

Spire Global operates one of the largest constellations of private nanosatellites and ground station networks in the world.

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 £14.7 million investment will help Spire Global develop its infrastructure and technologies, which in turn will create dozens of high-tech and highly skilled jobs and training opportunities in Scotland’s space sector.

“Spire Global’s expansion sends a strong message that even in these uncertain times, Scotland remains open for business and has the potential to be Europe’s leading space nation.”

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The funding includes a £6.7m Regional Selective Assistance (RSA) award from Scottish Enterprise and an £8m commercial convertible loan note from the economic agency’s investment arm, the Scottish Investment Bank.

CEO of Spire Global, Peter Platzer, said: “We will continue to scale the company and grow our workforce in Glasgow, along with our global product offering, to help countries across all industries, as well as governments tackle ever more frequent and extreme weather events in this era of climate change.

“Glasgow has been a fantastic location for us, with exceptional talent and people with a phenomenal ‘can-do’ attitude and true grit. We are excited to substantially expand our presence here and look forward to the continuation of strong partnerships within Scotland, the UK Space Agency, and the wider UK space ecosystems.”

Charlie Smith, MD, International Development, Strategy and Technology at Scottish Enterprise, said: “This total support package of almost £15m for Spire Global underscores our commitment to make Scotland Europe’s leading space nation.

“Spire Global’s expansion plans for Glasgow are incredibly exciting and will provide a huge boost to the Scottish economy.

“Scottish Enterprise looks forward to continuing to work in partnership with Spire Global as the company significantly enhances its presence in Glasgow.”