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Space42, the UAE-based AI-powered SpaceTech company that seamlessly integrates satellite communications, geospatial analytics, and artificial intelligence capabilities with global reach, and listed on the Abu Dhabi Securities Exchange, announced the signing of a $695.5m Export Credit Agency (ECA)-backed financing facility to fund the development of its next-generation geostationary satellites, Al Yah 4 and Al Yah 5.
The financing represents a pivotal step in Space42’s strategy to establish critical connectivity capabilities across multiple orbits. The facility, arranged by Crédit Agricole CIB, Santander CIB, Societe Generale, and Natixis and backed by Bpifrance Assurance Export, demonstrates the company’s continued appeal to leading international banks and will fund the satellites scheduled for launch in 2027 and 2028. The facility provides Space42 with cost-effective, long-term financing aligned with its satellite development timeline, whilst strengthening the company’s liquidity position to support future growth initiatives.
“The Al Yah 4 and Al Yah 5 programme is underpinned by a 17-year, $5.1bn government contract commencing in 2026 and advances our goal to become the trusted leader in secure connectivity by providing multi-path critical connectivity solutions,” said Andrew Cole, chief financial officer of Space42. “This strategic pillar focuses on enhancing secure communication capabilities across defense and civil domains through multi-orbit satellite networks that ensure uninterrupted connectivity for mission-critical applications. The ECA financing structure optimises our cost of funding and provides increased financial flexibility to execute our growth agenda.”
Read: Space42 inks Dhs18.7bn satellite contract with UAE govt
Al Yah 4 and Al Yah 5 feature software-defined architecture with fully flexible payloads that can be reconfigured in orbit. This technology enables real-time optimisation of coverage, bandwidth, and frequency allocation to meet evolving operational requirements across the Middle East, Africa, Europe, and Asia.
The satellites will complement and eventually replace Al Yah 1 and Al Yah 2, launched in 2011 and 2012 respectively.
