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BlackBridge Accelerates Next-Generation Satellite Development with $22M Investment

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Author:Ryan Mitchell
Michael Johnson
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BlackBridge has obtained $22 million (CDN) in financing from Bank of Montreal (BMO) and the Business Development Bank of Canada (BDC). The capital will support development of the company’s next-generation satellite program, RapidEye+, while also renewing existing credit facilities.

This funding package strengthens BlackBridge’s plans to deploy an enhanced satellite constellation designed to expand imaging performance and broaden its portfolio of geospatial products and services.

Financing to Power RapidEye+

RapidEye+ represents the evolution of BlackBridge’s Earth observation capabilities. The new constellation is intended to deliver improved imaging capacity and support a wider array of geospatial applications across global markets. By investing in advanced satellite technology, the company aims to build upon its established expertise in remote sensing and data distribution.

Richard Goode, Chief Financial Officer at BlackBridge, noted that the participation of both BMO and BDC reflects confidence in the company’s long-term growth strategy. He emphasized that securing financially strong institutional partners is a key component of sustaining expansion and innovation in the competitive satellite imaging sector.

From the lender perspective, BMO expressed pride in supporting the RapidEye+ initiative and signaled interest in maintaining involvement as the satellites move through development and deployment phases.

Matthew Kellow, Managing Director of Subordinate Financing at BDC, described BlackBridge as an ambitious and forward-looking enterprise well aligned with BDC’s mandate to foster long-term growth partnerships. He highlighted the new constellation as a catalyst for expanded business opportunities.

Expanding the Geospatial Value Chain

BlackBridge operates across the full geospatial ecosystem, delivering integrated solutions that span satellite operations, data center infrastructure, and cloud-based geospatial platforms. Through a global partner network exceeding 100 distributors, the company provides worldwide access to satellite imagery and develops value-added analytical products tailored to customer needs.

The RapidEye+ constellation is expected to reinforce this end-to-end model, enhancing data acquisition capacity while strengthening downstream services such as geocloud solutions and imagery distribution.

With this new round of financing, BlackBridge advances its strategic objective of deepening satellite imaging capabilities and expanding comprehensive geospatial solutions for customers worldwide.

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