The Department of War's Office of Strategic Capital Signs $150 Million Conditional Loan Commitment With Rocket Lab

Nov. 9, 2026 |

The Office of Strategic Capital (OSC) announced today a $150 million conditional loan commitment with Rocket Lab USA, Inc., the principal operating subsidiary of Rocket Lab Corporation (NASDAQ: RKLB) and a global leader in launch services and space systems. The loan would support Rocket Lab's efforts to increase the flight rate of its reusable Neutron rocket beyond first launch to meet growing commercial and national security demand for access to space.

OSC's conditional loan commitment to Rocket Lab is intended to support a critical national security priority: scaling America's space launch capabilities and supporting economic resiliency. The proposed loan would support faster vehicle delivery and processing and allow Rocket Lab to expand its fleet of maritime vessels with additional equipment for Neutron recovery and transport. It would also enable manufacturing upgrades to increase the production of composite structures and engines, and support infrastructure that would reduce turnaround time between launches once the reusable rocket makes its operational debut.

Rocket Lab's Neutron rocket is a reusable launch vehicle designed to deliver payloads of approximately 13,000 kg to Low Earth Orbit. Engineered for rapid constellation deployment, national security payloads, and future interplanetary missions, the Neutron rocket would provide the U.S. government with a capable new medium-lift launch platform, ensuring uninterrupted access to space. 

"This conditional commitment would enable Rocket Lab to create more launch opportunities for commercial and government customers using its Neutron rocket and strengthen the United States' launch capacity with a repeatable and reliable new space launch platform," said Peter F. Anderson, Senior Vice President (Investments) at OSC.

The conditional loan commitment specifies additional steps that Rocket Lab must complete before financial close, including satisfying various financial, legal, technical, investment, due diligence, and other requirements.

"I applaud the Office of Strategic Capital for investing in critical space launch capabilities. President Trump's vision makes it clear that space superiority is vital to America's strength and security," said Emil Michael, Under Secretary of War for Research and Engineering. "This OSC transaction supports that vision by building the resilient, capable domestic launch network required to safeguard our national security interests."

Defense Logistics Agency Adds $2 Billion in Critical Material Support to National Defense Stockpile

Nov. 6, 2026 | By Christopher Goulait, DLA Public Affairs |

The Defense Logistics Agency strengthened domestic industrial capacity and supported national security priorities by committing $2 billion to acquire strategic and critical materials during fiscal year 2026. As the organization responsible for supporting the stockpile, DLA Strategic Materials improved access to materials important to the nation's industrial readiness, said Eric Mata, DLA Strategic Materials director.

The national defense stockpile reduces the risk of material shortages that could affect national defense and essential civilian industries. Strategic and critical materials are those needed to meet military, industrial and essential civilian requirements during a national emergency, but aren't available commercially in sufficient quantities to meet those needs. 

Most of the critical mineral contracts awarded through DLA's Contracting Services Office were targeted demand signals to enable domestic production and to support the National Defense Strategy emphasis on resilient, secure supply chains, Mata said. 

"Domestic sourcing is especially important when a material is essential to national defense, is subject to concentrated or vulnerable supply chains, is difficult to replace, and is not readily available from reliable sources in the quantities or forms required," Mata explained. "In those cases, domestic acquisition and stockpiling can help reduce single-point-of-failure risks, sustain U.S. industrial capability and preserve material availability during disruption."

Materials sourced for the stockpile can range from high-purity aluminum to vanadium pentoxide, with many elements, metals and compounds in between. In addition to mining, approaches like recovery, recycling, refining and processing can also produce these materials. Where technically and economically feasible, domestic reclamation strengthens supply resilience by providing secondary sources of critical materials, Mata said. 

The National Defense Strategy calls for supporting the defense industrial base through reshoring strategic industries and expanding domestic production.

DLA's acquisitions for the national defense stockpile direct demand toward American material suppliers and processors, strengthening industrial readiness and resilience, Mata said. 

"These materials support a range of industrial capabilities across aerospace, maritime, ground, space, communications and munitions-related sectors," he said.

Stockpiled materials reduce uncertainty for the defense industrial base and provide demand signals that help sustain specialized capabilities, Mata said. They work alongside other War Department and federal projects to strengthen domestic critical-material supply chains to complement — rather than replace — other investment options. 

He also noted the national security benefits of stockpiling reduce exposure to foreign supply risk by lowering reliance on overseas producers, long transportation routes and geographically concentrated supply chains. 

"These efforts are helping domestic companies plan production, retain skilled workers and expand capacity where economically viable," Mata said. "By pairing targeted acquisitions with domestic sourcing and broader industrial-base investments, DLA Strategic Materials is helping build a more resilient supply chain for materials important to national defense."

Department of War's Office of Strategic Capital Signs $150 Million Conditional Loan Commitment With LeoLabs, Inc.

Nov. 4, 2026 |

The Department of War's Office of Strategic Capital (OSC) announced today a $150 million conditional loan commitment with LeoLabs, Inc., a leading provider of Space Domain Awareness (SDA) and Space Traffic Management (STM) solutions. This financing would accelerate the deployment of critical radar infrastructure and advanced decision science software, helping sustain American leadership in the increasingly contested space domain.

In alignment with OSC's mission to attract private capital to national security priorities, the conditional loan is matched dollar-for-dollar with co-investment, resulting in a capital infusion of $300 million. The financing would scale production and deployment of multi-mission phased array radars, significantly expanding U.S. radar manufacturing capacity and sensing infrastructure.

This financing would directly support Department of War priorities by expanding LeoLabs' global footprint and accelerating the production and deployment of advanced sensor hardware, including the company's mobile "Scout" radar units.

"To maintain our strategic advantage, we must leverage the innovation and agility of the American commercial sector," said David A. Lorch, Director of the Office of Strategic Capital and Senior Advisor to Deputy Secretary of War Steve Feinberg. "This financing equips the Department of War with unparalleled Space Domain Awareness capabilities and demonstrates our commitment to unleashing private capital to solve our most pressing national security challenges. By supporting the expansion of a globally distributed, wholly domestic space radar architecture, this transaction bolsters U.S. resilience against geopolitical disruptions in orbit and ensures that next-gen technologies are powered by secure, domestically sourced data."

As the only commercially available provider of ground-based radar space domain awareness in the United States, LeoLabs is uniquely positioned to deliver this critical infrastructure and enhance space monitoring capabilities. LeoLabs' globally distributed radar network allows for rapid, continuous cloud-based data updates and unclassified information sharing, making it a critical commercial capability for national defense and for allied partners.

"High-precision orbital tracking is integral to the U.S. economy and the defense industrial base, and its importance is only going to grow on account of the rapid commercialization of space," said Jordan B. Sebold, Senior Managing Director (Investments) at OSC. "OSC's investment in LeoLabs will help ensure we maintain persistent custody of the objects that matter most."

The conditional loan commitment specifies additional steps LeoLabs must complete before financial close, including satisfying various financial, legal, technical, investment, due diligence, and other requirements.

"I applaud OSC for another strategic investment in the important space domain sector," said Emil Michael, Under Secretary of War for Research and Engineering. "Maintaining American space superiority means we must scale commercial capabilities that enhance decision-making for the Joint Force. This OSC financing ensures the United States and our allies control the data needed to maintain our decision advantage in orbit."

Department of War's Office of Strategic Capital Signs Conditional Loan Commitment of up to $450 Million With Neros, Inc.

Nov. 2, 2026 |

The Department of War's Office of Strategic Capital (OSC) announced today a conditional loan commitment of up to $450 million to Neros, Inc., a U.S.-based developer and manufacturer of dual-use small unmanned aircraft systems (sUAS).

This investment is intended to support Neros' domestic manufacturing expansion and reduce reliance on foreign-made components.

OSC's conditional loan commitment to Neros directly advances President Donald J. Trump's Executive Order 14307, Unleashing American Drone Dominance. OSC financing alongside additional private capital will support Neros' planned expansion of vertically integrated domestic manufacturing capacity to produce dual-use sUAS platforms, ground control systems, and critical components like motors, radios, flight electronics, sensors, and batteries.

"Neros has already demonstrated an ability to design, manufacture, and deliver exceptional small unmanned aircraft systems," said David A. Lorch, Director of the Office of Strategic Capital and Senior Advisor to Deputy Secretary of War Steve Feinberg. "OSC's investment will turbocharge Neros' ability to manufacture drones and components critical for the production of drone systems."

Neros designs and produces low-cost, high-performance drones. The company's manufacturing facility in Torrance, California will help onshore the production of complete drone systems as well as critical subcomponents including propulsion motors, flight stacks, radios, and thermal sensors. This vertically integrated capacity will support both Neros' internal production and the supply of critical, NDAA-compliant components to other U.S. and allied drone manufacturers.

"Winning the drone industrial-base competition requires the United States to be able to manufacture complete systems at scale and at competitive prices for both military and non-military applications. This starts with bolstering the domestic supply of critical components inside all drone systems," said James R. Shanahan, Senior Managing Director (Investments) at OSC. "Neros' vertically integrated approach would support the creation of significant incremental domestic component capacity for Neros and the broader unmanned-systems ecosystem."

The conditional loan commitment specifies additional steps Neros must complete before financial close, including satisfying various financial, legal, technical, investment, due diligence and other requirements.

"I applaud OSC for helping to strengthen the domestic drone supply chain. Achieving Secretary Hegseth's mandate for American drone dominance requires a secure and resilient industrial base here at home," said Emil Michael, Under Secretary of War for Research and Engineering.

Department of War Announces $150 Million in Awards to Multidisciplinary University Research Teams

Oct. 29, 2026 |

The Department of War today announced $150 million in awards for basic defense-related research projects as part of the Multidisciplinary University Research Initiative (MURI). These awards, which average $7.5 million over five years, will support 20 teams at 57 U.S. academic institutions, subject to satisfactory research progress and the availability of funds.

"The MURI program brings together multidisciplinary teams from institutions across the country to tackle some of our most complex scientific challenges,” said Jason Day, Research Policy Director within the Office of the Under Secretary of War for Research and Engineering. "By deploying a mix of perspectives and approaches, MURI projects foster the kind of bold, cross-cutting research that can spark breakthroughs and push the boundaries of what's possible.”

Since its inception in 1985, the Department's MURI program has brought together teams of investigators from many different disciplines to generate collective insights, facilitating the development of cutting-edge technologies to address the Department's unique challenges. The highly competitive program, which complements the Department's single-investigator basic research grants, has contributed to current and future military capabilities and produced numerous commercial-sector applications. Notable MURI achievements include breakthroughs in solid-acid fuel cells, novel nanoscale X-ray imaging techniques that enable advances in battery design and microelectronics, and advances in self-assembled materials that led to the first demonstration of microcontact printing, now widely used in microelectronics, surface chemistry, and cell biology.

The Army Research Office, the Air Force Office of Scientific Research, and the Office of Naval Research solicited fiscal year 2026 proposals in topic areas of strategic importance to the Department. After a merit-based review of 451 white papers, a panel of experts narrowed the pool to a subset of 74 full proposals, from which the 20 final awards were selected. The list of winning teams is available here.

Caine Says Super Intelligence Is a Strategic Priority

Oct. 27, 2026 | By Matthew Olay, Pentagon News |

During a fireside chat at the National Defense Transportation Association and U.S. Transportation Command's fall meeting in Grapevine, Texas, yesterday, Air Force Gen. Dan Caine, chairman of the Joint Chiefs of Staff, said super intelligence is one of his strategic priorities.

"I have sort of three strategic priorities right now, separate from [others]. No. 1 is making sure that we have a budget. … No. 2 is [super intelligence], and No. 3 is ongoing operations. That's how much emphasis — potential, I think — SI has in transitioning the way that we fight our wars in the future, and it extends across all of the joint functions," Caine told Air Force Gen. Randall Reed, Transcom's commander, who moderated the discussion.

Caine said using SI effectively will be essential for the joint force to win in tactical engagements with the enemy, logistics and sustainment, and command and control by protecting the functions the military needs to be victorious and dominate on the battlefields of the future. 

"When I think of SI, …it's going to be a game changer as we move forward, and the number of things that are going to go back and forth between an adversary and the United States — both kinetic things [like] missiles and rockets and bombs — and non-kinetic things in the cyber domain are going to be significant," Caine said. 

He emphasized training leaders, systems and models to support future commanders' decision-making while maintaining appropriate human involvement and balancing the opportunities and risks associated with SI. 

"It's going to be an important part of our future, [and] we need to lean in; the joint force — the Joint Staff — [is] doing that now," Caine said. 

The chairman added that, if what's past is prologue, the private sector will lead the way in using super intelligence capabilities. 

"And we need to match them at the same speed and tempo," he said.

Department of War's Office of Strategic Capital Signs $150 Million Conditional Loan Commitment with Stoke Space Technologies, Inc.

Oct. 26, 2026 |

The Department of War's Office of Strategic Capital (OSC) announced today a $150 million conditional loan commitment with Stoke Space Technologies, Inc., a U.S.-based space launch company developing fully reusable rockets, to provide low-cost, high-cadence access to orbit. The proposed loan from OSC, alongside private capital, would support the buildout of the company's second launchpad at its existing launch complex at Cape Canaveral Space Force Station.

The OSC commitment to Stoke Space more broadly supports the expansion of U.S. launch capacity, which is required to meet the rising demand for commercial and national security space launch by the United States Space Force. Space launch is a designated critical technology category that is vital to national security and economic resilience.

"OSC's conditional investment with Stoke Space aligns with President Donald J. Trump's National Space Transportation Policy, which calls for expanded U.S. launch infrastructure.  By expanding domestic launch facility capacity, this investment enables launch service providers to ensure our commercial and defense partners have reliable, high-cadence access to space," said David A. Lorch, Director of the Office of Strategic Capital and Senior Advisor to Deputy Secretary of War Steve Feinberg.

"This conditional commitment would enable Stoke Space to scale its Cape Canaveral infrastructure and facilities efficiently. The company's existing launch complex infrastructure supports its Nova Pathfinder medium-lift rocket, while the new launchpad infrastructure would support the systems and facilities required for the larger Nova Block 2 rocket, which is currently in development. By supporting the construction of additional launch infrastructure, this commitment would enhance the overall capacity and resilience of the commercial space industrial base," said Jordan Sebold, Senior Managing Director (Investments) at OSC.

The conditional loan commitment specifies additional steps Stoke Space must complete before financial close, including satisfying various financial, legal, technical, investment, due diligence, and other requirements.

"I applaud the Office of Strategic Capital for investing in critical space launch infrastructure.  Fulfilling President Trump's mandate for American space superiority requires scaling commercial launch capacity for our warriors at the Space Force," said Under Secretary of War for Research and Engineering Emil Michael. "This OSC financing would help provide the robust infrastructure needed to maintain American dominance in the cislunar domain."