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Rocket Lab

Rocket Lab gets $120 million equipment and expansion financing

Published

9 months ago

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Rocket Lab Rocket Development Center Long Beach

Trinity Capital on Tuesday announced the commitment of $120 million in equipment financing to Rocket Lab space launch service provider.

The latest financing announcement comes after the Space Development Agency (SDA) contracted $515 million to Rocket Lab to develop and operate 18 of its satellites.

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The rocket maker designs and produces satellite technologies in-house and integrates them into more than 1,700 satellites. The company has also deployed 176 satellites through 43 launches as of February 2024.

Rocket Lab Electron Rocket on Pad B at Rocket Lab's Launch Complex 1 in New Zealand

Rocket Lab Electron Rocket on Pad B at Rocket Lab’s Launch Complex 1 in New Zealand (Credit: Rocket Lab)

Expansion:

The new $120 million financing will allow Rocket Lab to expand its manufacturing facility, bring new test equipment, and conduct more research and development.

These new activities will help the rocket company to grow its operations around the globe and help it increase its launch capacities.

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(source – Trinity Capital)

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Timothy started learning about game development and electronics at the age of 17. After involvement in different projects, he switched to Android app development and began pursuing smart hardware mechanics. Later on, he became fond of writing and tech journalism. Timothy covers major topics about internet personality, business, EV, Space, Social Media, and more. He loves to watch survival videos and try to find out new facts about the ocean and animals.

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