Astranis Receives $468 Million EXIM Financing to Ramp Production of Next-Generation GEO Satellites

EXIM launches first of its kind credit agreement to support expansion of domestic manufacturing jobs and production of mission-critical satellite infrastructure

SAN FRANCISCO--(BUSINESS WIRE)--Astranis announced the Export-Import Bank of the United States (EXIM) approved a $468 million credit facility to fund domestic satellite production and the launch of global space infrastructure. The transaction expands Astranis’ capacity to manufacture and operate satellites within the United States to meet increasing demand from highly-sophisticated commercial and government customers around the world.

“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.”

As countries around the world are increasingly seeking sovereign, dedicated connectivity infrastructure, Astranis delivers a faster, more secure, and more scalable alternative for markets long underserved by traditional commercial satellite providers. EXIM’s domestic financing will help Astranis ramp production in the United States as it both fills current orders and wins new services contracts worldwide, adding to its existing global customer base including Gulf Space Technology in Thailand, Chunghwa Telecom in Taiwan, MB Group in Oman, stc group in Saudi Arabia, and the US government.

“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, CEO and cofounder of Astranis. “EXIM’s backing provides us with the capital to ramp up production at home, deliver connectivity to customers around the world, and expand our work securing our country’s most valuable assets in GEO.”

EXIM is coordinating with the National Aeronautics and Space Administration’s (NASA) Office of Strategic Space Finance (OSSF) as it expands its support of domestic space technologies. NASA OSSF aligns, attracts, and scales private capital investment into supply chains essential to maintaining the United States’ preeminence in aeronautics and space exploration.

J.P. Morgan’s Securitized Products Group served as the sole Arranger and Structuring Agent for the transaction, demonstrating the firm’s commitment to supporting key American manufacturers and jobs in industries critical to national security and the economy through innovative public-private financing structures.

From its 153,000 sq. ft. Northern California headquarters, Astranis has manufactured and launched five satellites in orbit today, with many more set to launch to support more than $1.2 billion in commercial contracts.

About EXIM

As the United States government’s official export credit agency, the Export-Import Bank of the United States (EXIM) supports American jobs by facilitating U.S. exports. As an independent agency, EXIM plays a critical role in supporting economic growth, securing critical supply chains, and ensuring American businesses are given a fighting chance. To achieve this mission, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. Learn more at www.exim.gov.

About Astranis

Astranis builds advanced satellites for high orbits, expanding humanity’s reach into the solar system. Today Astranis satellites provide dedicated, secure networks to highly-sophisticated customers across the globe — large enterprises, sovereign governments, and the US military.

With multiple satellites now on orbit serving customers around the world, the company is servicing a backlog of more than $1 billion of commercial contracts. Astranis is the preferred satellite communications partner for buyers with stringent requirements for uptime, data security, network visibility, and customization.

Astranis has raised over $1.2 billion from some of the world’s best investors, including Andreessen Horowitz, BlackRock, Fidelity, Franklin Templeton, and Snowpoint, and employs a team of 500 engineers and entrepreneurs. Astranis designs, builds, and operates its satellites out of its 153,000 sq. ft. headquarters in Northern California, USA.