Kent's Stoke Space lines up a $150 million Pentagon loan for a second launch pad
The conditional commitment would fund a Cape Canaveral pad for a larger reusable rocket. The loan is not final.
Stoke Space, based in Kent, Washington, has a conditional commitment for a $150 million loan from the Department of War's Office of Strategic Capital to build a second launch pad at Cape Canaveral, GeekWire reported on Monday. The pad would serve Nova Block 2, a larger fully reusable rocket designed to carry up to 15 metric tons to low Earth orbit, five times the capacity of Nova Pathfinder.
The loan is not final until Stoke meets financial, legal, technical and due-diligence requirements. The announcement comes less than two months after Stoke raised roughly $1 billion in a Series E, bringing total funding to about $2.3 billion.
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