PHOENIX - Trinity Capital Inc . (NASDAQ: NASDAQ:TRIN), a provider of financial solutions to growth-stage companies, has committed to a $120 million equipment financing deal with Rocket Lab USA, Inc. (NASDAQ: RKLB), a company at the vanguard of space launch and satellite technology services.
The new debt facility from Trinity is earmarked for supporting Rocket Lab's expansion plans. This includes financing for increased manufacturing capacity, testing equipment, and research and development initiatives. Rocket Lab, headquartered in Long Beach, California, has a proven track record in the space industry, having integrated its technology into over 1,700 satellites and conducted 43 launches to date.
Kyle Brown, Trinity's CEO, emphasized the significance of the partnership, stating that it aligns with Trinity's commitment to advancing space innovation technologies. The financing follows Rocket Lab's recent $515 million contract with the Space Development Agency for the production and operation of 18 satellites, highlighting the company's growth trajectory and its role as a satellite prime contractor.
Cory Cramer, Trinity's Director of Equipment Financing, expressed enthusiasm about collaborating with Rocket Lab, citing the company's contributions to making space access more efficient and cost-effective. Adam Spice, Rocket Lab's CFO, acknowledged the partnership as a catalyst for accelerating the company's expansion to meet the increasing demand for space services from commercial and government customers.
This financing arrangement is based on a press release statement and showcases Trinity's strategic investment approach, focusing on companies that are pioneering significant technological advancements.
Trinity Capital Inc. is an internally managed business development company specializing in term loans, equipment financings, and equity-related investments. Rocket Lab, an established space company since 2006, offers comprehensive space solutions, including the Electron orbital launch vehicle and the Photon satellite platform.
The company is also developing the larger Neutron launch vehicle for constellation deployment. Rocket Lab's services are integral to various sectors, including national security, scientific research, and Earth observation.
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