Trinity Capital committed $120 million in equipment financing to Rocket Lab, a provider of space launch services and advanced satellite technology.

Based in Long Beach, CA, Rocket Lab is an provides launch services, satellite manufacturing, spacecraft components, and on-orbit management solutions. Rocket Lab designs and produces technology that has been integrated into more than 1,700 satellites globally and has deployed 176 satellites through 43 launches to date.

“Our partnership with Rocket Lab underscores our commitment to fostering groundbreaking technologies and advancing the capabilities of companies at the forefront of space innovation,” Kyle Brown, CEO of Trinity Capital, said. “We look forward to supporting the Rocket Lab team and providing equipment financing to further fuel the growth of manufacturing needs in the U.S.”

This financing comes on the heels of Rocket Lab’s $515 million contract with the Space Development Agency to design, develop, produce, test and operate 18 satellites.

“Rocket Lab is not only delivering reliable launch services but is also driving innovation for satellite component manufacturing and software in the aerospace industry,” Cory Cramer, director of equipment financing at Trinity Capital, said. “We are excited to partner with their team as they continue to make access to space faster, easier and more affordable.”

Rocket Lab will use the new facility from Trinity Capital for expansion plans by financing additional manufacturing capacity, testing equipment, and research and development.

“As we continue scaling our launch and space systems businesses to meet the growing demand for space services, we’re pleased to partner with the dedicated team at Trinity to accelerate our expansion,” Adam Spice, CFO of Rocket Lab, said. “This partnership enables us to build on the strong momentum as an established leading launch provider, and now also a satellite prime contractor, delivering reliable space services to a growing base of commercial and government customers.”