Partnership will Accelerate Growth of Newly Launched High-Resolution Weather Solutions Platform, Filling Critical Coverage Gaps in Existing Radar Networks

SAN FRANCISCO & FORT WORTH, Texas & LOUISVILLE, Ky.–(Rise Fund/Climavision PR)–The Rise Fund, TPG’s global impact investing platform, today announced a $100 million strategic investment in Climavision, a pioneering weather services and intelligence platform powered by a private network of high-resolution radars, GPS-RO data, and proprietary software to vastly improve the timing and accuracy of weather forecasting and to fill low-level gaps in existing weather surveillance.

Climavision was formed out of Enterprise Electronics Corporation (EEC), the world’s largest privately held commercial supplier of weather radar systems. EEC, which is majority controlled by the Cookes family, has a 50-year history and more than 1,200 installations across 95 countries. By combining lower altitude, proprietary data with cutting-edge machine learning and AI technology, Climavision’s one-of-a-kind offering provides 10x higher resolution and more accurate forecasting to address critical coverage gaps left by existing radar networks across the U.S.

SpaceX is seeking a leveraged loan of $750 million in an effort being led by Bank of America, Bloomberg reports. Bloomberg had earlier reported that Goldman Sachs was leading an effort to obtain $500 million in financing for Elon Musk’s company. The reason for the change was not reported.

Bloomberg reports that SpaceX wants to borrow $500 million in the leveraged loan market. Goldman Sachs Group Inc. is leading the talks with potential investors this week, said the people, who asked not to be identified because plan is private. Spokesmen for Space Exploration Technologies Corp. and Goldman Sachs declined to comment…. SpaceX’s timing lets it take advantage of a borrower’s market in leveraged finance, even for companies like Uber […]

Goldman Sachs says asteroid mining is more realistic than most people think. In a 98-page note for clients seen by Business Insider, analyst Noah Poponak and his team argue that platinum mining in space is getting cheaper and easier, and the rewards are becoming greater as time goes by. “While the psychological barrier to mining asteroids is high, the actual financial and technological barriers are far lower. Prospecting probes can […]