The financing is expected to ramp domestic production of the company’s next-generation GEO satellites and expand capacity to build and operate satellites in the US to meet growing global demand for sovereign, dedicated connectivity.
The company also announced a partnership with stc group for a dedicated satellite for Saudi Arabia, earlier this month.
“Maintaining American leadership in space requires the capital to build fast and deliver at scale. This financing is a huge vote of confidence in Astranis to do that,” said John Gedmark, Astranis CEO and co-founder.
“This means we have capital to build more satellites in the United States and get them into orbit faster. As we sign new customers, this helps us move from contract to satellites in orbit at the speed our customers need.
“We have more than $1 billion in contracts to deliver, and now we can ramp up production to meet this demand and do our part to help re-industrialise America.”
“Astranis is delivering mission-critical infrastructure to customers around the world at unprecedented speed and scale,” said EXIM chairman John Jovanovic.
“We are confident this is just the beginning. Under President Trump’s leadership, EXIM will continue to help the United States stay ahead of the curve in developing the industries of the future and boost American competitiveness around the globe.”
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