Today we are announcing a $468M credit facility from Export-Import Bank of the United States to fund a massive ramp in satellite
production here in America. For a New Prime like Astranis, it's a huge vote of confidence from the United States Government.
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.
Astranis's satellites serve a huge unmet need. This year we've signed some of our biggest and most important deals yet. Earlier this month we announced a partnership with stc group for a dedicated satellite for Saudi Arabia.
We have more than $1B in contracts to deliver, and now we can ramp up production to meet this demand and do our part to help re-industrialize America.
Thank you to EXIM for backing us. Now, back to building for the Expansion Era.
Why this matters for talent
A $468 million credit facility from the Export-Import Bank is capital earmarked specifically for ramping domestic satellite production, which for a hardware company usually means headcount in manufacturing, test and supply chain before it shows up anywhere else. Astranis carries more than 160 open roles on the board today, and this financing is the kind of event that tends to widen that number rather than shrink it. Worth watching their production and manufacturing postings over the next quarter.
523 likes · 28 comments · 31 shares · Read the Source link unavailable.. Curated by Larry Sherwood Jr. from company announcements; analysis above is my own.