AST SpaceMobile has secured a $100 million equipment financing facility to support the satellite operator's manufacturing and network deployment goals during 2025 and 2026.

In an announcement last week, the low Earth orbit satellite provider revealed that the non-dilutive financing facility has been led by alternative asset manager Trinity Capital Inc.

Non-dilutive funding is funding that ensures the business maintains complete ownership of the business and isn't obliged to sell new shares or a stake in the business.

“This new non-dilutive financing enables AST SpaceMobile to continue its strong momentum executing against its accelerated operational plans,” said Andrew Johnson, chief financial officer of AST SpaceMobile.

“This facility is the first such type of financing agreement for the company and reflects our stage of rapid growth and transition from research and development to full-scale manufacturing and network deployment.”

According to the company, the financing provides an additional $100m of long-term liquidity, including $25m drawn at closing against previously purchased equipment, available through 2031.

Founded in 2017, AST's first test satellite, Bluewalker 1, was launched in 2019; Bluewalker 2 was canceled. Its latest test satellite, Bluewalker 3, launched in 2022.

AST was planning a constellation of almost 170 satellites; the first 20 were originally due to enter operation by 2023, with another 90 deployed through 2024. According to more recent press releases, it seems to have revised its constellation plans down to 100.

Verizon and AT&T, along with Vodafone, are all investors in AST SpaceMobile, rivaling Elon Musk's SpaceX Starlink and Amazon's Project Kuiper.

Last month, the company outlined a settlement term sheet with Ligado Networks LLC, Viasat Inc, and Inmarsat Global Limited, enabling long-term access to up to 45MHz of lower mid-band spectrum in North America for direct-to-device satellite applications.

Once ratified, the agreement will unlock additional capabilities for AST’s assets, joining up the permissions to use premium spectrum with a large space-based network to enable superior penetration and coverage characteristics.