Kent, Wash.-based Stoke Space has secured a conditional commitment for a $150 million loan from the Department of War’s Office of Strategic Capital to build a second launch pad at Cape Canaveral for a larger version of its fully reusable rocket.

The loan isn’t final until Stoke meets a list of financial, legal, technical and due-diligence requirements. The announcement Monday comes less than two months after Stoke raised roughly $1 billion in a Series E round, bringing its total funding to about $2.3 billion.

The new pad would serve Stoke’s Nova Block 2 rocket, which is designed to carry up to 15 metric tons to low Earth orbit. That’s five times the capacity of Nova Pathfinder, which Stoke plans to launch for the first time from its existing pad in early 2027. Block 2 is slated to debut in 2029.

The loan would be paired with private capital to pay for the pad, according to the Department of War. Jordan Sebold, senior managing director for investments at the Office of Strategic Capital, said in a statement that adding launch infrastructure would “enhance the overall capacity and resilience of the commercial space industrial base.”

The Office of Strategic Capital was set up in 2022 to draw private investment into technologies seen as critical to national security. The following year, Congress gave it the power to make loans and loan guarantees to companies in those fields. Space launch is one of the technology categories it targets.

“By expanding domestic launch facility capacity, this investment enables launch service providers to ensure our commercial and defense partners have reliable, high-cadence access to space,” David Lorch, the office’s director, said in the news release.

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