Powerhouse Ventures (ASX:PVL) invested AU$500,000 in spaceport and test range facility Southern Launch's oversubscribed private fundraising, according to a Tuesday filing with the Australian bourse.
Southern Launch has two sites in South Australia for space launch missions. Powerhouse Ventures' investment comes in the context of the increasing market need for infrastructure facilities that support space launches, per the filing.
The investment on Southern Launch will be transferred into the recently announced "Critical Infrastructure Opportunities Fund," the filing stated.
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