Stoke Space secures $150M conditional Pentagon loan for second Cape Canaveral pad

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. The pad would serve the Nova Block 2 rocket, designed to carry up to 15 metric tons to low Earth orbit, with a debut slated for 2029. The loan is not final until Stoke meets financial, legal, technical and due-diligence requirements, and comes less than two months after the company raised roughly $1 billion in a Series E round.