The U.S. Space Force has introduced a working capital fund for the purchase of satellite communications services and other commercial space offerings, SpaceNews reported Wednesday.
Col. Timothy Trimailo, head of the Space Systems Command’s Commercial Space Office, said the working capital fund, or WCF, is “an important milestone in integrating commercial capabilities into the architecture.”
SSC also announced the establishment of the Enterprise Space Activity Group on Oct. 1 under the Air Force WCF.
What Will USSF’s WCF for Commercial Services Do?
The fund will initially offer $120 million deposit, but it is expected to grow to over $1.2 billion annually. Instead of relying on congressional appropriations, the WCF will be self-sustaining. Customers will pay for services and reinvest reimbursements into the fund to keep it going.
The SSC said the WCF can lead to lower rates for customers if its profits, or incur higher rates due to losses.
The Commercial Satellite Communications Office, a.k.a. CSCO, is the first program authorized to use the funding. CSCO is in charge of all military contracts for commercial satellite services, which are collectively worth nearly $7 billion.
“This is a strategic advantage for the Space Force and more importantly, our warfighters,” CSCO Director Clare Hopper stated about the fund. “We’re looking forward to offering even more capabilities that our warfighters need and deserve to be successful.”
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