Libra Group Launches Dedicated Space Leasing Company
JUN 21, 2023 - 7:01 am
Libra Group, a privately owned global business group whose subsidiaries own and operate assets in nearly 60 countries, launched Space Leasing International, a space leasing company dedicated to the full spectrum of space assets. According to Libra Group, Space Leasing International is the world’s first dedicated space leasing company.
Space Leasing International’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, WA-based operator RBC Signals. Space Leasing International 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, Space Leasing International’s 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 said the space sector’s development will have 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.
By applying Libra Group’s leasing model used within its aviation and maritime subsidiaries, Space Leasing International will support the space industry by bridging the divide between manufacturers and operators of space assets.
“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.” George Logothetis, executive chairman of Libra Group, said. “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.”
“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,” Alejandro Kerschen, CEO of Space Leasing International, said. “This helps grow production capacity, strengthens the product to the market value chain and ultimately spurs critical innovation and development of space assets. 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.”
“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,” Christopher Richins, founder and CEO of RBC Signals, said. “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.”
Supporting bank relationships is the centerpiece of Key Equipment Finance’s new go-to-market strategy, which fueled the bank’s recent decision to exit its commercial and municipal vendor finance business. “We had a very successful commercial vendor business that had been with... read more
“Don is a true leader who impacts so many of our lives and careers in a positive way every day. Always insightful, inspiring and courageous. He has set the bar high — a true hall of famer.” Steve Grosso, CEO... read more