ispace secures ¥3bn Shizuoka Bank loan for lunar mission development

(SpaceEnergy) Japanese lunar exploration company ispace has approved a ¥3bn ($20m) loan from Shizuoka Bank to provide working capital for mission development and related costs.

The three-year borrowing is expected to be drawn during September and will carry a floating interest rate comprising a benchmark rate plus a spread. It is unsecured and carries no guarantee, with principal repayable at maturity.

ispace said the financing is intended to strengthen its cash position and financial base, increase management flexibility and support continued investment while improving the quality of its technology and responding to market demand.

The company is developing multiple lunar transportation missions and describes lunar resource development and the creation of a cislunar economy as core elements of its business. Its current programme includes Mission 3, scheduled for 2028, and Mission 4 in 2029, both using the ULTRA lunar lander.

Chief financial officer and executive business director Jumpei Nozaki said the borrowing would secure working capital for mission development while increasing the company’s financial flexibility to support investment for sustainable growth.

The board approved the financing on 9 September, with the loan agreement also scheduled to be signed that day.