Astroscale secures JPY 3 billion loan agreement with Mizuho Bank
Astroscale Holdings Inc., the market leader in satellite servicing and long-term orbital sustainability across all orbits, has entered into a loan agreement of JPY 3 billion (approx. USD 22 million) with Mizuho Bank, Ltd. This agreement will provide Astroscale with additional financial support for its current and future projects, accelerating the company's business development efforts.
The agreement is the first for Astroscale with Mizuho Bank, and brings the cumulative debt raised to a total of JPY 11 billion (approx. USD 83 million). It is a valuable opportunity for Astroscale to secure funds through alternative means in a challenging economic environment.
“Entering this loan agreement with Mizuho Bank provides Astroscale with greater financial flexibility to achieve our objective of establishing routine on-orbit services,” stated Nobu Okada, Founder and CEO of Astroscale. “We have a strong partnership with Mizuho Bank, and I am confident that this agreement will enable us to continue to grow and innovate.”