The Office of Strategic Capital (OSC) recently awarded Washington-based Stoke Space Technologies, Inc. a space launch company developing fully reusable rockets, a $150 million conditional loan commitment to provide low-cost, high-cadence access to orbit.
The company will use the loan along with private funding to build the company’s second launchpad at its existing launch complex at Cape Canaveral Space Force Station. The conditional loan commitment specifies additional steps the company must complete before financial close such as satisfying financial, legal, technical, investment, due diligence, and other requirements.
“This conditional commitment would enable Stoke Space to scale its Cape Canaveral infrastructure and facilities efficiently,” Jordan Sebold, OSC senior managing director (investments), said. “The company’s existing launch complex infrastructure supports its Nova Pathfinder medium-lift rocket, while the new launchpad infrastructure would support the systems and facilities required for the larger Nova Block 2 rocket, which is currently in development. By supporting the construction of additional launch infrastructure, this commitment would enhance the overall capacity and resilience of the commercial space industrial base.”
Space launch has been designated as a critical technology that is vital to national security and economic resilience.
The loan commitment broadly supports the expansion of U.S. Space Force launch capacity.