Libra Group, a privately owned global business group whose subsidiaries own and operate assets in nearly 60 countries, has launched the world’s first space leasing company dedicated to the full spectrum of space assets. Building on the Group’s 20 years of aviation leasing experience, Space Leasing International (SLI) will own and lease assets critical to the space economy. Group’s new aerospace subsidiary aims to accelerate projected $1 trillion space economy by leasing broad portfolio of space assets; acquires Arctic-based ground station and commits to building additional 20 ground stations around the world.
SLI’s first investment includes the construction of a ground station in the geo-spatially critical Alaskan Arctic, which is vital for polar orbits that monitor climate change, for lease to Redmond, Washington-based operator RBC Signals. SLI has also committed to acquire or build an additional 20 ground stations around the world within the next three years, which will also be leased to RBC Signals as part of an ongoing business partnership. In the near future, SLI’s diversified portfolio of space assets will also expand to large and small assets critical to the space economy, including satellites, spaceports, and other space infrastructure.
According to The Space Foundation, today’s commercial space industry is experiencing rapid growth, with the space economy projected to exceed $1 trillion by 2040. The European Space Agency highlights that the space sector’s development has positive ripple effects on many global industries, such as transport, renewable energy, agriculture, and urban development, and can aid in monitoring crops, erosion, and climate change mitigation. However, the space sector’s growth can be limited by the high costs associated with creating and maintaining space assets and limited supply and access to space infrastructure.
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By applying Libra Group’s proven leasing model used within its aviation and maritime subsidiaries, SLI is positioned to support and accelerate the space industry by bridging the divide between manufacturers and operators of space assets. Currently, there are no lessors dedicated to the full range of space assets. By adding a new role of a wholly-dedicated owner/lessor into the value chain, SLI will support innovation and asset creation while providing non-dilutive capital, which is critical to scaling assets vital to the space economy.
George Logothetis, Executive Chairman of Libra Group, said, “Thanks to far-reaching human ingenuity, our society continues to push the bounds of possibility. The power of space is limitless and is revolutionizing how we communicate, navigate, gather information, fight climate change, and is beyond what we can imagine.” He continued, “SLI is helping to democratize the space economy by investing in building and maintaining a portfolio of space assets that will spark paradigm-shifting technologies and help to test and create market access at scale. This is the next exciting step for our Group, which is committed to advancing innovation, sustainability, and social impact while advancing the future in global sectors, including aerospace, maritime, and beyond.”
Alejandro Kerschen, Chief Executive Officer of SLI, said, “SLI is building out an end-to-end portfolio of space assets available for lease to operators, providing a critical, otherwise missing link between the manufacturer and operator. This helps grow production capacity, strengthens the product to the market value chain, and ultimately spurs critical innovation and development of space assets.” He continued, “Building on the strong leasing legacy of Libra Group subsidiaries within other transport sectors, SLI is positioned to unlock the transformational power of leasing to support our customers from across the world to access space. We are pleased to be working with RBC Signals as we launch this exciting initiative.”
Christopher Richins, Founder and Chief Executive Officer of RBC Signals said, “By enabling businesses to access high-quality assets used in space, SLI is breaking down barriers to entry and unlocking new opportunities for growth and development. RBC Signals is proud to partner with SLI, and we look forward to a successful long-term relationship as they build a diverse portfolio of space assets. We are also very excited to gain access to the greater and global Libra Group platform as we continue to grow our business around the world.”
SOURCE: PRNewswire