Rocket Lab USA (Nasdaq: RKLB) will receive $120 million in equipment financing from Trinity Capital (Nasdaq: TRIN), a provider of venture debt financing to venture capital-backed companies.
The new debt facility will be used to support Rocket Lab’s expansion plans and finance the procurement of testing equipment and development of additional manufacturing and research and development capacity, Trinity said Tuesday.
“This partnership enables us to build on the strong momentum as an established leading launch provider, and now also a satellite prime contractor, delivering reliable space services to a growing base of commercial and government customers,” said Adam Spice, chief financial officer at Rocket Lab.
Rocket Lab designs and produces 18 satellites for the Space Development Agency under a $515 million contract awarded in December 2023.
The company was also selected to deploy a pair of small satellites into low Earth orbit for a NASA mission aimed at understanding how warming climate affects ice shelves in the Arctic and Antarctica.
