$10M investment advances Canada’s sovereign space-launch capacity in Newfoundland and Labrador

News release

Federal, provincial, and private investments strengthen Atlantic Canada’s role in a global space economy expected to reach $2 trillion by 2040

August 27, 2026 · St. Lawrence, Newfoundland and Labrador · Atlantic Canada Opportunities Agency (ACOA) 

Access to space is becoming increasingly important to Canada’s security, sovereignty, and economic future. As countries around the world invest in their own launch capabilities, Canada is building the capacity to launch from Canadian soil and compete in the rapidly growing global race to space. Atlantic Canada is emerging as a key part of that effort.

Today, the Honourable Sean Fraser, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency, announced federal support for a $10 million investment to advance NordSpace’s Atlantic Spaceport Complex (ASX) in St. Lawrence, Newfoundland and Labrador. ASX is expected to host Canada's first commercial space launch vehicles and help secure Canada's sovereign access to space.

The Government of Canada is investing $1 million in the project, building on the $8.3 million in federal support announced for NordSpace earlier this year. The Government of Newfoundland and Labrador is contributing $4 million, while NordSpace is investing $5 million of its own capital, bringing the total investment announced today to $10 million.

Together, this investment will help ASX:

  • generate high-skilled jobs in rural Newfoundland and Labrador;
  • create new opportunities for Canadian businesses and grow space and advanced-manufacturing supply chains; and,
  • advance Canada’s commercial space-launch capacity and ability to compete in the rapdily growing global space race.

With major space-launch projects advancing in Newfoundland and Labrador and Nova Scotia, Atlantic Canada is increasingly becoming a destination for investment in Canada’s growing commercial space sector. These investments are helping Canada build greater control over its access to space, attract private investment from around the world, create highly skilled jobs, and ensure Canadian businesses can compete in an industry expected to reach $2 trillion by 2040.

Quotes

“Countries around the world are moving quickly to build their own space capabilities, and Canada cannot afford to be left behind. Space is becoming more important to our economy, our security and our sovereignty. By investing in NordSpace, we are helping build Canadian launch capacity, attract private investment to Newfoundland and Labrador and create highly skilled jobs in a global industry expected to reach $2 trillion by 2040.”

The Honourable Sean Fraser, P.C., K.C., Member of Parliament for Central Nova, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency


“Newfoundland and Labrador is geographically positioned to play a strategic role in Canada’s defence industrial strategy, including the need for a sovereign space launch capability. Through this investment, we are supporting a project that will create high-skilled jobs, attract private-sector investment, and open new opportunities for businesses and suppliers throughout our province. The Atlantic Spaceport Complex will help diversify our economy and strengthen the province’s presence in a rapidly growing global industry.”

- The Honourable Lin Paddock, Minister of Jobs, Growth and Rural Development


“This investment in the Atlantic Spaceport Complex is a major moment for Canada. It is about more than building a spaceport; it is about building a future where a sovereign Canada leads in space exploration and innovation, with critical national infrastructure to launch Canadian vehicles, from Canadian soil, carrying Canadian payloads. NordSpace is building Newfoundland and Labrador into Canada's gateway to space, launching satellites on Canada's own terms to support farmers, predict wildfires, connect remote communities, and monitor wildlife across our great nation. This investment will create new economic opportunities while bolstering our national defence. We are grateful for this support from the Atlantic Canada Opportunities Agency and the Government of Newfoundland and Labrador.”

- Rahul Goel, Founder and CEO, NordSpace Corporation

Quick facts

  • In addition to today’s announcement, the Department of National Defence conditionally approved $8.3 million over three years to NordSpace Corporation (NordSpace), one of three Canadian companies selected for funding through its Innovation for Defence Excellence and Security (IDEaS) Launch of the North Challenge, earlier this year. This initiative is designed to accelerate Canadian space launch-related innovation and to strengthen the foundations needed for future sovereign launch capability.

  • Founded in 2022, NordSpace is a Canadian aerospace company developing end-to-end space mission services, including launch vehicles, satellite systems and spaceport infrastructure. The company is building Canada’s first orbital-class launch vehicle, Tundra, along with advanced space technologies designed to support commercial, scientific and defence-related missions.

  • The Atlantic Spaceport Complex (ASX) in St. Lawrence, NL represents critical infrastructure that will support new Canadian space capabilities that will benefit key sectors, including fisheries/oceans, agriculture, forestry, climate change monitoring, remote broadband connectivity, national security, and public safety.

  • NordSpace aims to create 30 high-skilled jobs in rural Newfoundland and Labrador by 2028, with the potential for more than 200 jobs by 2035. The project is also expected to generate employment opportunities in construction, transportation, professional services and tourism.

  • Canada’s Defence Industrial Strategy identifies space as one of the country’s 10 Key Sovereign Capabilities, with space launch recognized as a priority area.

  • Also earlier this year, the Government of Canada announced a $200-million investment supporting Spaceport Nova Scotia, further advancing Canada’s sovereign space-launch capacity and Atlantic Canada’s growing role in the sector.

  • The funding announced today is provided through the Atlantic Canada Opportunities Agency’s (ACOA) Regional Economic Growth through Innovation (REGI) program.

Associated links

Contacts

Jeanne Joannie Fogue Mgamgne
Press Secretary
Office of the Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency
joannie.fogue@justice.gc.ca

Media Relations    
Atlantic Canada Opportunities Agency   
mediaroom-salledesmedias@acoa-apeca.gc.ca  

Allison King
Director of Communications
Department of Jobs, Growth and Rural Development
AllisonKing@gov.nl.ca

Jennifer Gawor
Public Relations Manager
NordSpace Corporation
contact@nordspace.com

Page details

2026-08-27