Inbizzy, Abu Dhabi, UAE – UAE-based space technology leader Space42 has secured a $695.5 million Export Credit Agency (ECA)-backed financing facility to develop its next-generation geostationary satellites: Al Yah 4 and Al Yah 5. The funding marks a significant milestone in Space42’s mission to expand secure and critical connectivity across the Middle East, Africa, Europe, and Asia.
The facility was arranged by leading global banks—Crédit Agricole CIB, Santander CIB, Societe Generale, and Natixis CIB—and backed by Bpifrance Assurance Export, a prominent French export credit agency. The financing strengthens Space42’s liquidity and aligns with its long-term satellite deployment strategy, with launches planned for 2027 and 2028.
“The Al Yah 4 and Al Yah 5 program is underpinned by a 17-year, $5.1 Billion 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.
Driving Strategic Connectivity Across Orbits
This financing reinforces Space42’s four-pillar growth strategy, aimed at establishing critical connectivity infrastructure for defense, civil, and commercial use. The Al Yah 4 and Al Yah 5 satellites will eventually replace Al Yah 1 and Al Yah 2, which were launched in 2011 and 2012 respectively.
Equipped with software-defined architecture and fully reconfigurable payloads, the satellites will allow for real-time optimization of coverage, bandwidth, and frequency allocation. This flexibility ensures agile response to changing operational demands across vast geographic territories, including high-demand regions in the Middle East and beyond.
UAE’s Emerging SpaceTech Powerhouse
Founded in 2024 through the strategic merger of Yahsat and Bayanat, Space42 (ADX: SPACE42) is a public SpaceTech company integrating satellite communications, geospatial analytics, and AI-powered decision-making. The company operates two core business units: Yahsat Space Services and Bayanat Smart Solutions.
With backing from major stakeholders such as G42, Mubadala, and International Holding Company (IHC), Space42 is at the forefront of the UAE’s transformation into a global hub for sovereign connectivity and space-based intelligence.
