Italy’s largest bank has invested in SpaceX. Intesa Sanpaolo said the aerospace sector can play a decisive role in the development and growth of the global economy, and SpaceX has demonstrated a leading vision for the future in this area.
Intesa Sanpaolo announced in a press release that it is investing in SpaceX (Space Exploration Technologies Corp), the world’s leading provider of launch services. The company said the move is in line with the Bank’s business plan for 2022-2025. In the new plan, innovation represents one of the most important aspects of value creation.
Intesa Sanpaolo said the aerospace sector could play a decisive role in the development and growth of the global economy. The bank noted that SpaceX has demonstrated a leading vision for the future in this area, making it an attractive investment.
Intesa Sanpaolo noted that SpaceX has attracted the attention of the whole world thanks to a number of historical milestones:
- only private company capable of returning a spacecraft from low-Earth orbit
- in 2012, its Dragon spacecraft became the first commercial spacecraft to deliver cargo to and from the International Space Station
- in 2020, SpaceX became the first private company to take humans to the International Space Station
- its Falcon 9 is the world’s first and only orbital class reusable rocket, driving down the cost of space access
In addition, the bank noted the achievements of SpaceX in the development of Starship. This is a new generation of fully reusable launch vehicles capable of delivering people and cargo to Mars and other destinations in the solar system. At the moment, the company is already at the testing stage and made its first attempt to reach orbit in the spring of 2023. The next test flight date has not been set yet.
SpaceX designs, manufactures, and launches advanced rockets and reusable spacecraft, and has delivered more payload into orbit than any other aerospace company ever. The company recently received its first contract from the US Space Force to provide specialized satellite communications for the military as part of the company’s new Starshield program.