The microlauncher is as tall as a three-storey building, has a
100-kg (220-lb) cargo capacity and can also be used to carry
zero-gravity experiments.
PLD Space aims to launch the rocket in Huelva in southern Spain,
paving the way for commercial launches further down the road,
but no date has been set.
Unveiling the rocket at the launch site at a military base on
Saturday, PLD Space's executive president, Ezequiel Sanchez,
said it demonstrated Spain's "technological leadership in
Europe".
London-based Orbex is also working to deliver small satellites
into low Earth orbit from Scotland, with no launch date
scheduled yet.
Prime Minister Pedro Sanchez, who was present on Saturday,
hailed the microlauncher's development as an important step
towards fulfilling the country's space ambitions.
"This is something we should share among the whole of Spanish
society which will put Spain at the vanguard of this emerging
but potent industry," he said.
Spain launched its own state space agency on March 7 amid a push
by European countries to keep pace with global rivals.
The Spanish Space Agency, based in the southern city of Seville,
will have a budget of 700 million euros ($745 million) in its
first year and a staff of 75.
In November, European nations agreed to boost spending on space
by 17% to keep on the heels of the United States and China.
Spain's international position in the aerospace sector has been
bolstered not only by increased public spending but by the
European Space Agency's recruitment of the first two Spanish
astronauts in 30 years, Pablo Alvarez and Sara Garcia.
(Reporting by Graham Keeley, Emma Pinedo and Elena Rodriguez,
editing by Inti Landauro and Nick Macfie)
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