iSpace Secures $45M Loan for Lunar Data Business and Lander Missions

At the 2024 Lunar Surface Innovation Consortium, Japan’s ispace officially announced its plans for a satellite communications system around the Moon. This comes after securing a $45M loan to fund three upcoming lander missions on its manifest. ispace’s US subsidiary is part of a consortium led by American firm Draper, which won a $73M NASA CLPS contract to land scientific payloads on the far side of the Moon in 2026. Two microsatellites will be placed in lunar orbit to maintain constant contact with controllers on Earth during the mission.

After the completion of the CLPS mission, ispace aims to offer connectivity to future lunar missions as a service. Other companies, such as Lockheed Martin subsidiary Crescent and Intuitive Machines, also have plans to develop orbiting communications networks around the Moon. ispace’s second lander is set to launch later this year, equipped with a micro rover to collect regolith samples for ESA. Their first attempt to reach the Moon a year ago was unsuccessful due to faulty software.

In terms of funding, ispace recently secured a $45M loan and previously raised $53.5M in equity. CEO Takeshi Hakamada highlighted the importance of diverse funding sources, including contract revenue and grants, as well as debt and equity financing. Additionally, NASA has an agreement with the Japanese government to put JAXA astronauts on the Moon in exchange for a pressurized lunar rover. NASA will be responsible for purchasing the rocket to transport Japan’s rover to the Moon in 2031 and providing most of its life support systems. Crews on the Moon will operate under a single mission commander, similar to operations on the ISS.