Ispace awarded $5.83 million loan from Japanese government
The planetary lander startup Ispace today announced that it has been awarded a $5.83 million loan from the Japan Finance Corporation, a government corporation designed to issue loans to encourage Japanese businesses.
The money will be issued this month, and Ispace will have ten years to pay it back. Depending on whether the company is profitable or not, the interest rate will be either 0.5% or 4.15%.
Ispace’s one lunar landing attempt so far, Hakuto-R1, was a failure when its software thought it was close to the ground at three miles altitude and shut off its engines. The company however is going to try again, with the launch of its second lander, dubbed Resilience, scheduled for a January 2025 launch. It will also carry the company’s own Tenacious micro-rover, and will hopefully land as shown in the map to the right, in the north of the Moon’s near side.
The planetary lander startup Ispace today announced that it has been awarded a $5.83 million loan from the Japan Finance Corporation, a government corporation designed to issue loans to encourage Japanese businesses.
The money will be issued this month, and Ispace will have ten years to pay it back. Depending on whether the company is profitable or not, the interest rate will be either 0.5% or 4.15%.
Ispace’s one lunar landing attempt so far, Hakuto-R1, was a failure when its software thought it was close to the ground at three miles altitude and shut off its engines. The company however is going to try again, with the launch of its second lander, dubbed Resilience, scheduled for a January 2025 launch. It will also carry the company’s own Tenacious micro-rover, and will hopefully land as shown in the map to the right, in the north of the Moon’s near side.