Exclusive: Astranis lands $468M loan to expand satellite production

Thomas Novelly

Two men in white lab coats and blue gloves work at a bench beneath a large hanging American flag in a bright, blue-toned laboratory. — Satellite assembly underway. Photo: Courtesy of Astranis

The U.S. Export-Import Bank has approved a nearly $500 million loan for Astranis to boost its domestic satellite production, Axios has first learned.

Why it matters: Astranis has contracts stateside and abroad, with customers in Oman, Saudi Arabia, Taiwan and Thailand. More funding is needed to meet the growing international demand for sovereign satellite capabilities.

EXIM approved the $468 million credit facility last week to grow "Astranis' capacity to manufacture and operate satellites," the bank said in a statement.

Zoom in: Astranis makes small geostationary satellites that orbit in tandem with Earth's rotation, providing broad coverage and visibility.

By the numbers: The private San Francisco-based company has five satellites floating above Earth today.

With a backlog of more than $1 billion in commercial contracts, more sats are on the horizon.

Zoom out: EXIM's loan is the latest investment under the bank's national security-focused Make More in America Initiative.

Other recent aerospace-focused EXIM investments include Beta Technologies and CesiumAstro.

The bottom line: "In order to lead across the globe, America must lead in space," EXIM chairman John Jovanovic told Axios.

Go deeper: Four companies plot extra GPS access for U.S. military

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Exclusive: Astranis lands $468M loan to expand satellite production

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