Libra Group Launches World’s First Dedicated Space Leasing Company
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
[June 20, 2023, New York, New York] — 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.
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.
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.”
SLI builds on Libra Group’s strong track record within its transport subsidiaries, including aviation and maritime, which have more than 45 years of leasing experience in acquiring and maintaining high-value capital assets across multiple industries. This includes more than $15 billion in international transactions across transportation sectors in the last 15 years. SLI expands Libra’s aerospace sector holdings into space. It also joins the Group’s leading aerospace subsidiary, LCI, which upon delivery of pending orders, will have a fleet of approximately 350 helicopters, electric vertical take-off and landing vehicles (eVTOLs), automated drones, and fixed-wing planes. Libra’s maritime subsidiary, Lomar, has completed close to $2 billion of vessel sales within the shipping sector since 2020.
About Libra Group
Libra Group is a privately owned, global business group that encompasses 30 operating entities: 20 businesses predominately focused on aerospace, renewable energy, maritime, real estate, hospitality, and diversified investments, as well as 10 independently run philanthropic initiatives. With assets and operations in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross-sector insights and growth at scale. Libra’s social responsibility programs, housed under Libra Philanthropies, include 10 philanthropic initiatives created to address unmet needs and grantmaking that helps people worldwide. For more information, visit www.libra.com.
About Space Leasing International (SLI)
Space Leasing International (SLI) is the world’s first dedicated space leasing company, which owns and leases assets vital to the space economy. SLI is one of the aerospace subsidiaries of Libra Group, a global business group with assets and operations in nearly 60 countries, 20 years of aviation leasing experience, and more than $15 billion of international transport transactions in the last 15 years. Among the Group’s 20 businesses are LCI, a leading aviation company that provides aviation leasing services to a diverse range of clients, and Lomar Shipping, a leading ship-owning and management group with a diversified mixed-sector fleet. For more information, visit www.spaceleasing.com.
About RBC Signals
RBC Signals is an innovative provider of global satellite data communication products and solutions. They offer secure space communication solutions in every major frequency band, utilizing a worldwide network of both company-owned and partner-owned systems. RBC Signals delivers dynamic solutions offering affordability, flexibility, and resiliency. Their diverse products and services enable them to be a complete end-to-end solution provider for every organization that needs best-in-class multi-network solutions. For more information, visit www.rbcsignals.com.