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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.