Rocket and spacecraft maker Firefly Aerospace (FLY.O) is expected to secure a $110 million U.S. Export-Import Bank (EXIM) loan that would help fund the company's expansion of spacecraft production facilities in Texas, according to a document reviewed by Reuters.
The bank's three board members are poised for a Tuesday morning vote on the loan, which is part of an EXIM initiative to help U.S. firms compete globally with foreign companies in artificial intelligence, space and other areas, according to the document.
Austin, Texas-based Firefly last year became the first private company to successfully land a spacecraft on the moon with its uncrewed Blue Ghost. It also launches customer satellites to orbit from the U.S. with its Alpha rocket and builds satellite platforms that can host an array of onboard missions in space.
The loan would have a 12-month availability period and a 10-year repayment period, according to a person familiar with the terms. Firefly's planned expansion in Texas is expected to create about 200 jobs, the person said on condition of anonymity because the information is not public.
A Firefly spokesperson did not respond immediately to a request for comment.
Satellites and spacecraft platforms have been a key area of international competition for companies in recent years as China's fast-growing space industry targets foreign customers. Many European countries have also increasingly sought sovereign or nationally owned space systems that have proven critical in conflicts and for everyday connectivity.
EXIM's "Make More in America Initiative" is part of a broader Trump administration effort to boost U.S. companies' competitive footing abroad via executive orders and a multibillion-dollar program meant to lure foreign buyers to high-tech U.S. products like AI tools.
Elon Musk's SpaceX (SPCX.O), with its Starlink satellite production line and its Starshield variant for governments, has shaken global satellite competition with quickly produced, lower-cost satellites. Other U.S. firms such as Firefly, Jeff Bezos' Blue Origin, Rocket Lab (RKLB.O) and dozens of smaller companies have expanded into spacecraft production.
