US Pentagon commits $150 million conditional loan to Rocket Lab
The proposed financing would help Rocket Lab expand production and recovery capacity for its Neutron rocket, subject to financial, legal and other requirements.
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The proposed financing would help Rocket Lab expand production and recovery capacity for its Neutron rocket, subject to financial, legal and other requirements.
The Pentagon’s Office of Strategic Capital announced a $150 million conditional loan commitment to Rocket Lab on 10 November, giving the launch company a proposed source of financing to expand capacity for its Neutron rocket.
The Pentagon established the office in 2022 to provide capital to companies developing technologies considered vital to national security.
The commitment follows a separate $150 million conditional loan announced on 26 October for Stoke Space, intended to support a second launch pad at Cape Canaveral Space Force Station in Florida. The loans aim to help both companies prepare rockets for military launch needs, Ars Technica said.
The office said the proposed loan would enable manufacturing upgrades to increase production of composite structures and engines. It would also support faster delivery and processing of vehicles and let Rocket Lab add vessels and equipment for recovering and transporting Neutron.
The financing would support infrastructure to shorten the time between launches once Neutron enters operational service, the office said. Neutron is a medium-lift, two-stage rocket designed to be partially reusable. Rocket Lab says its first launch is scheduled for 2027.
The commitment is not money already paid out. The office said the proposed loan remains subject to financial, legal, technical, investment, due-diligence and other requirements. Due diligence is the review carried out before a financing deal is completed.
Rocket Lab Chief Financial Officer Adam Spice discussed the loan on 9 November, calling its terms “very attractive” and saying the capital would help the company scale, particularly Neutron. The cited report does not specify the interest rate, repayment term, closing date, payment timetable or amounts allocated to each use.
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The financing must meet the office’s conditions before it can close; the planned reduction in turnaround times also depends on Neutron entering operational service.
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