Rendering of a ReOrbit GEO satellite. Photo: ReOrbit

SLI is set to purchase two small Geostationary Orbit (GEO) communication satellites from manufacturer ReOrbit for 150 million euros ($172.8 million), the companies announced in a joint statement on Thursday.

SLI, formerly known as Space Leasing International, offers asset-financing services to governments and operators. The company maintains satellite capacity in orbit and leases it to customers, in order to mitigate the costs of independently assembling and launching a satellite.

The companies said the agreement reflects rising demand for sovereign resilient space infrastructure.

“ReOrbit’s engineering approach enhances throughput and economics while numerous governments under budgetary pressure rush to attain a fully independent space infrastructure,” SLI CEO Praveen Vetrivel said. “The combination of ReOrbit’s technology and the low cost of entry via SLI’s finance platform, can swiftly contribute to national security and long-term resilience.”

This is SLI’s second satellite order in recent months. In December, SLI purchased two GEO satellites from AscendArc for more $200 million.

Separately, in September, ReOrbit closed a $53 million funding round, which it said would accelerate the manufacture of sovereign satellites and infrastructure.