ispace Secures Approximately $70 Million in Bank Financing
Part of a Loan Agreement With Sumitomo Mitsui Banking Corporation
A resolution has been made by the ispace Board of Directors to secure approximately $70 Million (≈¥10.0 Billion JPY) in new financing as part of a loan agreement with Sumitomo Mitsui Banking Corporation.
"With Mission 2 in its final stage and Mission 3 onwards marking full-scale commercialization, the additional loan support from Sumitomo Mitsui Banking Corporation will surely stabilize our financial position."
Jumpei Nozaki, ispace
The loan is intended to secure working capital for development of mission and other related expenses. Through this financing, ispace intends to strengthen the company’s liquidity position and stabilize its financial foundation, thereby enabling agile management decisions. This will further accelerate the continuous improvement of technological quality and ability to effectively respond to market demand. In addition, the loan is intended to build a robust financial structure that supports ongoing investment. The execution of the loan is scheduled to be completed on May 23, 2025.
“We are deeply grateful for the high evaluation and trust we have received from Sumitomo Mitsui Banking Corporation. With Mission 2 in its final stage and Mission 3 onwards marking full-scale commercialization, the additional loan support from Sumitomo Mitsui Banking Corporation will surely stabilize our financial position. Going forward, we will continue to make flexible management decisions, respond accurately to market needs, and strive for continued growth,” said Jumpei Nozaki, CFO and Executive Business Director of ispace.
Currently, ispace is actively operating the SMBC x HAKUTO-R Venture Moon Mission 2 and has achieved 7 of the 10 mission milestones. Most recently, the RESILIENCE lunar lander successfully completed a lunar orbital insertion at on May 7, 2025, at 5:41 a.m. JST (May 6, 2025, 20:41 UTC). RESILIENCE is currently scheduled to land on the Moon on June 6, 2025 (JST).
ispace is leveraging its global presence through its three business units in Japan, the U.S., and Luxembourg, for the simultaneous development of upcoming missions. Mission 2, featuring the RESILIENCE lunar lander, is led by ispace Japan and was launched on Jan. 15, 2025. It is currently scheduled to land on the Moon on June 6, 2025 (JST). During the mission, the TENACIOUS micro rover, developed by ispace Europe SA, is set to be deployed on the lunar surface to conduct a technological demonstration of regolith extraction as well as mobility on the lunar surface. Team Draper Commercial Mission 1 is also known as ispace’s Mission 3. Mission 3, debuting the APEX 1.0 lunar lander, is expected to launch in 2027. The company’s fourth mission, which will utilize the Series 3 lander, currently being designed in Japan, is scheduled to be launched by 2027.