By Michael Sheetz | CNBC
PARIS – The U.S. export credit agency is working through a $5 billion pipeline of applications related to the space industry, as companies look to fund projects in orbit in a tighter capital market.
The Export-Import Bank of the United States, or EXIM, is no stranger to financing space projects such as satellite and rocket products. EXIM generally sees more applications during tougher economic times, as the previous bulk of its financing for the space sector came between 2010 and 2015.
“In our pipeline related to this industry, about $1.3 billion are likely to come to fruition within a year and another $4 billion that we’re looking at are a little less further along,” Judith Pryor, EXIM’s first vice president and vice chair of the board of directors, said on Monday at the 2023 World Satellite Business Week conference.
“Venture capital (VC) funding isn’t the sole financing option available to aerospace startups. EXIM is enthusiastic about supporting the industry, offering an excellent avenue for companies to secure funding and win contracts.” Shruti Gurudanti, Rose Law Group partner and director of the firm’s space law department
