In its push to double down on its national security and defense clientele, spacecom firm CesiumAstro has secured $200M in government financing.
The Export-Import Bank of the United States (EXIM) and JP Morgan jointly provided the batch of financing. The breakdown:
- $185M as an EXIM-authorized debt facility;
- A $15M revolving-credit facility from JPM.
“This transaction sets a new benchmark for how federal financing tools and private-sector capital can work together to reshore manufacturing, create American jobs, and strengthen US leadership in strategically vital industries,” Liam Sargent, head of securitized products group and tax-oriented investments at JP Morgan, said in a release.
According to CesiumAstro, this financing is near the top of the list of US government investment in space manufacturing, and it’s the largest single commitment to date from EXIM’s Make More in America Initiative.
Get building: With this round of financing, CesiumAstro is planning to greatly expand its presence—and manufacturing capability—in Texas. The company previously announced that it would be investing $500M in a new manufacturing facility and global HQ in Bee Cave, TX, just west of Austin.
- The new facility will be 270,000 sq. ft. and boost the company’s national security business.
- Operations are expected to begin there in 2027.
- The company also plans to create 500 jobs in the area by 2030.
“This investment enables us to continue building a business model that directly supports national security priorities, delivering best-in-class products to our commercial customers, while delivering strong returns for our investors,” CesiumAstro CFO Ken Smith said in a statement.
