Pentagon backs Stoke Space with $150 million conditional loan for second Florida launch pad

The U.S. Department of Defense's Office of Strategic Capital (OSC) has announced a conditional commitment for a $150 million loan to commercial launch provider Stoke Space Technologies, Inc.

The federal financing will support the construction of a second dedicated launch pad at Cape Canaveral Space Force Station in Florida, establishing infrastructure for the company's larger Nova Block 2 reusable rocket.

Capital Strategy and Domestic Launch Resiliency

The debt financing reflects a strategic shift by defense procurement authorities toward utilizing debt instruments to finance critical industrial base infrastructure rather than relying solely on traditional launch contracts. By extending loan backing through the OSC, established to crowd in private investment for critical defense technologies, the Pentagon aims to expand domestic launch capacity as orbital transport demands climb across national security missions.

Capital History and National Security On-Ramp Lineage

The $150 million federal commitment arrives less than two months after Stoke Space closed a $1 billion funding round in September, which elevated the Kent, Washington-based launch developer's total private capital raised to $2.3 billion. That round expanded upon prior equity financing, including when Stoke Space raised $510 million to scale manufacturing of the Nova launch vehicle. The infrastructure financing also builds on government ties established when Space Systems Command awarded Stoke Space a spot on the National Security Space Launch Phase 3 Lane 1 contract to compete for defense launches.

Nova Block 2 Specifications and Launch Complex Expansion

The planned launch facility is engineered to support the Nova Block 2 vehicle, a fully reusable rocket designed to deliver up to 15 metric tons to low Earth orbit-five times the lift capacity of the company's Nova Pathfinder rocket. While the existing Cape Canaveral pad accommodates upcoming Pathfinder test flights targeted for early 2027, the second pad provides dedicated ground infrastructure to support the larger Block 2 configuration.

Due Diligence Conditions and Timeline to 2029 Debut

The loan remains conditional, requiring Stoke Space to clear exhaustive financial, legal, technical, and due-diligence evaluations before the agreement finalizes. Following closing, the government-backed debt will be paired with private capital to finance pad construction ahead of the Nova Block 2 vehicle's scheduled debut in 2029.