TL;DR / Executive Summary
- Space Leasing International (SLI) has signed a heads of agreement to purchase two AscendArc Ka‑band GEO satellites valued at over 200 million dollars.
- This marks remarkable commercial traction for a seed‑stage company, especially given that AscendArc secured its first anchor customer only in September.
- The partnership strengthens AscendArc’s mission to lower barriers to entry for GEO missions and improve access to high‑performance satellite technology.
Aerospace asset finance specialist, SLI (Space Leasing International), has signed heads of agreement for the purchase of two of AscendArc’s next-gen Ka-band satellites with a combined value of over $200 million. This deal is part of a wider partnership that lets AscendArc, a Seraphim portfolio company, offer its satellites on leasing terms instead of requiring an outright purchase. Through the SLI finance platform, satellite operators can access the latest technology as operating expenditure rather than capital expenditure. The partnership supports AscendArc’s mission to lower the barrier to entry for securing a geostationary orbit (GEO) satellite.
Praveen Vetrivel, CEO of SLI, commented “We have strong conviction in the value of this satellite class and the step-change it represents for operators. AscendArc’s approach to design and manufacturing meaningfully improves the economics and throughput performance in GEO, delivering a cost per Mbps that stands out and aligns well with what operators are asking for. We expect operators to appreciate both the performance profile and the ability to access this technology through leasing terms that allows them to grow in a capital-efficient way and free up capital for other priorities.”
Chris McLain, founder and CEO of AscendArc, expressed his appreciation to the SLI team, and the partnership that will allow all future AscendArc customers the option to lease their satellites from SLI. “SLI and its parent company, Libra Group, bring a long history of success in high value asset leasing, along with the credibility and financial strength needed to complete a deal of this scale. Their backing gives our clients a key financing pathway as they plan their missions. We value SLI’s confidence in the AscendArc design and in our team’s ability to deliver – this is an agreement where all parties succeed.”
