Visit U.S. SiteAstroscale Japan Signs Loan Agreement with Bank of Tokyo-Mitsubishi UFJ and Japan Finance Corporation for JPY 3 Billion
The funds will accelerate Astroscale Japan’s novel active debris removal technologies, launching in 2023.
Tokyo, Japan, Jan. 31, 2022 – Astroscale Japan Inc. (“Astroscale Japan”), a subsidiary of Astroscale Holdings Inc. (“Astroscale”), the market leader in satellite servicing and long-term orbital sustainability across all orbits, today announced it has signed a loan agreement with the Bank of Tokyo-Mitsubishi UFJ, Ltd. and Japan Finance Corporation valued at JPY 3 billion (approx. USD $24 million). The loan falls under the New Business Development Loans plan, which was launched by Japan Finance Corporation in 2000 to support small and medium sized businesses with high growth potential.
The loan will be used to fund Astroscale Japan’s Active Debris Removal by Astroscale-Japan (ADRAS-J) spacecraft, which was selected by the Japan Aerospace Exploration Agency’s for Phase I of its Commercial Removal of Debris Demonstration Project mission, one of the world’s first technology demonstrations of removing large-scale debris from orbit. ADRAS-J is currently in the assembly phase and is scheduled to launch in 2023. Once in orbit, ADRAS-J is designed to rendezvous with a Japanese upper stage rocket body, demonstrate proximity operations, and obtain images, delivering observational data to better understand the debris environment.
With tens of thousands of satellites set to launch in the next ten years, the on-orbit servicing market is projected to generate USD $14.3 billion in revenue through 2031, with growth anticipated across all applications driven by innovative technology and increasing demand for maintaining secure and sustainable orbits. In addition to active debris removal, Astroscale is developing end-of-life, in situ space situational awareness, and life extension services to create a sustainable ecosystem for the future space economy.
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