Department of War's Office of Strategic Capital Signs $150 Million Conditional Loan Commitment with Stoke Space Technologies, Inc.

The Department of War's Office of Strategic Capital (OSC) announced today a $150 million conditional loan commitment with Stoke Space Technologies, Inc., a U.S.-based space launch company developing fully reusable rockets, to provide low-cost, high-cadence access to orbit. The proposed loan from OSC, alongside private capital, would support the buildout of the company's second launchpad at its existing launch complex at Cape Canaveral Space Force Station.

The OSC commitment to Stoke Space more broadly supports the expansion of U.S. launch capacity, which is required to meet the rising demand for commercial and national security space launch by the United States Space Force. Space launch is a designated critical technology category that is vital to national security and economic resilience.

"OSC's conditional investment with Stoke Space aligns with President Donald J. Trump's National Space Transportation Policy, which calls for expanded U.S. launch infrastructure. By expanding domestic launch facility capacity, this investment enables launch service providers to ensure our commercial and defense partners have reliable, high-cadence access to space," said David A. Lorch, Director of the Office of Strategic Capital and Senior Advisor to Deputy Secretary of War Steve Feinberg.

"This conditional commitment would enable Stoke Space to scale its Cape Canaveral infrastructure and facilities efficiently. The company's existing launch complex infrastructure supports its Nova Pathfinder medium-lift rocket, while the new launchpad infrastructure would support the systems and facilities required for the larger Nova Block 2 rocket, which is currently in development. By supporting the construction of additional launch infrastructure, this commitment would enhance the overall capacity and resilience of the commercial space industrial base," said Jordan Sebold, Senior Managing Director (Investments) at OSC.

The conditional loan commitment specifies additional steps Stoke Space must complete before financial close, including satisfying various financial, legal, technical, investment, due diligence, and other requirements.

"I applaud the Office of Strategic Capital for investing in critical space launch infrastructure. Fulfilling President Trump's mandate for American space superiority requires scaling commercial launch capacity for our warriors at the Space Force," said Under Secretary of War for Research and Engineering Emil Michael. "This OSC financing would help provide the robust infrastructure needed to maintain American dominance in the cislunar domain."