Reaching for the stars with SpaceX
We’re investing in Space Exploration Technologies Corp. (SpaceX), a leading designer, manufacturer and operator of advanced rockets and spacecraft. This is our first investment by the Teachers’ Innovation Platform (TIP), which was launched in April 2019.
What’s the connection between space and your pension?
The world is changing. Aligning ourselves with truly disruptive companies at the forefront of their fields helps us ensure we’re positioning our portfolio well for the future. SpaceX has a proven track record of technology disruption in the launch space.
We also see significant future growth potential in the satellite broadband market. At the time of our deal, SpaceX was raising capital to fund the deployment of their Starlink satellite constellation project that will provide broadband internet to regional and under-served households.
SpaceX at a glance:
- SpaceX was founded in 2002.
- The company has more than 100 contracted launches and customers that include NASA and commercial satellite company, Inmarsat.
- SpaceX’s Falcon Heavy is the most powerful operational rocket in the world. It has the ability to lift into orbit nearly 64 metric tons – a mass greater than a 737-jetliner loaded with passengers, crew, luggage and fuel.