Ispace borrows $35 million
Resilience’s landing zone in Mare Frigoris
The Japanese lunar lander startup Ispace announced last week that it has obtained a new bank loan totaling $35 million from the Japanese bank Mizuho to help pay its ongoing expenses as its Resilience lunar lander attempts the company’s second try at soft landing on the Moon.
The loan is intended to secure working capital for development of mission and other related expenses. Through this financing, ispace intends to strengthen the company’s liquidity position and stabilize its financial foundation, thereby enabling agile management decisions.
In other words, the company had started to run short of cash, and needed this loan to keep operating. It had previously gotten a government loan of almost $6 million, but that did not have to be paid back for ten years. Back in 2018 it raised $90 million in investment capital, followed by an additional $53 million in 2024.
This loan suggests that Ispace might be in serious financial trouble if Resilience fails to soft land on June 5, 2025, as presently planned. The company already has two future lander contracts, one with NASA and one with Japan’s space agency JAXA, but a second failure now might cause those agencies to have second thoughts.
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Resilience’s landing zone in Mare Frigoris
The Japanese lunar lander startup Ispace announced last week that it has obtained a new bank loan totaling $35 million from the Japanese bank Mizuho to help pay its ongoing expenses as its Resilience lunar lander attempts the company’s second try at soft landing on the Moon.
The loan is intended to secure working capital for development of mission and other related expenses. Through this financing, ispace intends to strengthen the company’s liquidity position and stabilize its financial foundation, thereby enabling agile management decisions.
In other words, the company had started to run short of cash, and needed this loan to keep operating. It had previously gotten a government loan of almost $6 million, but that did not have to be paid back for ten years. Back in 2018 it raised $90 million in investment capital, followed by an additional $53 million in 2024.
This loan suggests that Ispace might be in serious financial trouble if Resilience fails to soft land on June 5, 2025, as presently planned. The company already has two future lander contracts, one with NASA and one with Japan’s space agency JAXA, but a second failure now might cause those agencies to have second thoughts.
Readers!
My annual February birthday fund-raising drive for Behind the Black is now over. Thank you to everyone who donated or subscribed. While not a record-setter, the donations were more than sufficient and slightly above average.
As I have said many times before, I can’t express what it means to me to get such support, especially as no one is required to pay anything to read my work. Thank you all again!
For those readers who like my work here at Behind the Black and haven't contributed so far, please consider donating or subscribing. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
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