For several years now, new players from all over the world have been involved in the future of aerospace. This includes Intesa Sanpaolo, which will in future invest in US billionaire Elon Musk’s space company SpaceX.
• Aerospace sector could play a crucial role in the development and growth of the global economy
• Investment in SpaceX is in line with the major bank’s business plan, which envisages strong and sustainable value creation for all stakeholders
• Amount of investment not yet known
Investment in aerospace sector
Intesa Sanpaolo SpA, one of the largest Italian credit institutions based in Turin, will in future be merged into Space Exploration Technologies Corp. (SpaceX) invest. The major bank announced this in a public announcement on the company website. That from Elon Musk The space and telecommunications company is the world market leader in space research and, among other things, pursues the goal of turning humanity into a multiplanetary society.
In a public announcement on the Intesa Sanpaolo homepage, the credit institution stated that the investment in SpaceX was in line with the business plan for 2022 to 2025. Innovation represents one of the most relevant aspects for value creation. Intesa Sanpaolo recognizes that the aerospace sector can play a crucial role in the development and growth of the global economy. This step is justified by the fact that SpaceX has already shown a groundbreaking vision for the future in this area and has achieved global attention through a number of historical milestones, the statement continues. According to the international news agency Reuters, it was agreed not to disclose the amount of the investment.
SpaceX historical milestones
To date, SpaceX is the only private company capable of sending a spacecraft into low-Earth orbit and returning it to Earth. SpaceX achieved an important milestone in 2012 when the first commercial spacecraft, Dragon, delivered cargo to and from the International Space Station (ISS). In 2020, SpaceX became the first private company to transport people to the same station. The Falcon 9, the world’s first and only reusable space module, allows SpaceX to reuse the vehicle’s most expensive components, reducing the cost of access to space travel, the company announced on its website. Based on these experiences, SpaceX is developing, among other things, Starship, a next generation of fully reusable launch vehicles that the company says will be capable of carrying people to Mars and other destinations in the solar system.
Recognizing these successes, Intesa Sanpaolo has decided to invest in a player at the forefront of the aerospace sector, important for the development of the global economy.
M. Schausbreitner/editorial team finanzen.net
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