Thursday, May 22nd 2014
BlackBridge (formerly RapidEye)
| Berlin, Germany
A new generation of RapidEye Satellites is underway
BlackBridge has secured $22 million (CDN) in funding from the Bank of
Montreal (BMO) and the Business Development Bank of Canada (BDC) for the
development of its next generation of satellites, RapidEye+, and for
the renewal of existing credit facilities. This financing will
contribute to the development of a new satellite constellation that will
enhance BlackBridge’s already remarkable imaging prowess, allowing the
company to expand its current range of geospatial solutions.BlackBridge CFO Richard Goode says of the investment, "We are pleased that both BMO and BDC have joined us in the development of our next generation of satellites. We are seeking strong long-term partners as we continue to grow our business, and both BMO and BDC provided the financial strength and commitment we were looking for.”
Mr. Braun, BMO, is enthusiastic about the project, “We are proud to be a part of BlackBridge’s RapidEye+ project, and we look forward to continued involvement as the new satellites are built.”
Matthew Kellow, Managing Director, Subordinate Financing with BDC states, “BlackBridge is a dynamic, growth-oriented, and forward-thinking company that is a great example of the type of company we are looking to partner with over the long-term. We are excited about furthering our partnership with the company and the new business opportunities that will result from RapidEye+.”
source: directionsmag.com
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