To support the growth and competitiveness of European space companies, ESA is broadening its access-to-finance activities beyond equity investment to include debt and project financing
The new Space Debt Catalogue provides companies with practical information to help them navigate the debt financing landscape and engage with potential financing partners.
The solution: making debt financing more accessible
As European space companies move from technology development towards commercialisation, scale-up and larger infrastructure projects, access to the right forms of finance is becoming increasingly important. ESA is therefore expanding its support to cover a broader range of financing instruments, including equity, debt and project finance.
The Space Debt Catalogue is a practical tool developed to improve companies’ visibility of available debt financing solutions and relevant financial institutions. It provides information on financing providers and helps companies better understand the type of requirements and criteria they may face when approaching lenders.
“The Space Debt Catalogue is an important step in developing closer collaboration between the European space sector and financial communities. As a pilot initiative, it will continue to evolve in partnership with participating lenders and industry stakeholders to better address the needs of the sector,” states Gianluigi Baldesi, Head of ESA’s Ventures and Financing Office.
The initiative was officially announced on 16 September 2026 during Industry Space Days at ESA-ESTEC, where Head of Ventures and Financing Office at ESA joined representatives from the European Investment Bank, Intesa Sanpaolo and Euronext for the panel ‘Scaling European Space Champions: Financial Solutions Across the Growth Journey’, discussing the financial instruments needed to support European space companies as they scale.
The need: responding to companies’ financing challenges
The development of the Catalogue responds directly to a need highlighted by European space companies. While equity remains an important source of capital, companies increasingly need access to debt as they scale, finance assets and infrastructure, and build predictable revenues.
For many companies, however, accessing debt can be challenging. Understanding which financing solutions are available, what lenders look for and how to prepare for discussions with financial institutions can be as important as identifying potential sources of capital.
“For many SMEs, understanding lender expectations can be as important as identifying financing opportunities. The Space Debt Catalogue provides valuable insight into the criteria commonly considered by financial institutions, helping companies prepare for discussions with potential financing partners,” highlights Hans Bracquené, Chair of SME4Space.
The enabler: strengthening the financing ecosystem
ESA’s increased focus on debt financing follows the announcement at Ministerial Council 2025 (CM25) of the Space Lending Envelope, developed with the European Investment Bank (EIB) to increase the availability of financing for the European space sector. A concrete step in putting this ambition into practice was the agreement between ESA, the EIB and Intesa Sanpaolo, establishing a risk-sharing mechanism designed to facilitate new lending to space companies.
This represents an important step in creating additional financing capacity as companies and projects move towards larger-scale commercial activities.
“Europe’s space sector has enormous potential for innovation and growth. Access to appropriate financing is essential to help companies scale and turn this potential into successful businesses. The Space Debt Catalogue is a practical tool to improve the visibility of financing opportunities and bring space companies and the financial community closer together,” shares Catherine Bender, Head of Financial Institutions Western Europe at European Investment Bank.
The Space Debt Catalogue is part of ESA’s broader effort to bridge the gap between the space sector and the financial community, helping European companies access the financing instruments they need at different stages of their development. By bringing together equity, debt and project financing, ESA aims to strengthen the European space ecosystem and support companies in scaling their activities, attracting private capital and competing in international markets.
Go to the Space Debt Catalogue