South Korean company invests $300 million in OneWeb
Capitalism in space: Hanwah, a South Korean conglomerate, has now invested $300 million in private capital in the satellite communications company OneWeb.
U.K.-headquartered OneWeb expects regulatory approvals to complete the Hanwha transaction in the first half of 2022, bringing its total investment since emerging from bankruptcy protection in November to $2.7 billion. The startup has said it only needed $2.4 billion to fund its initial constellation of 648 satellites in low Earth orbit.
It reached that in June, after Indian telecom company Bharti Global doubled its investment to $1 billion to secure what would have been a 38.6% stake before Hanwha’s announcement. The U.K. government, French satellite operator Eutelsat and Japanese internet giant Softbank were each in line for just under 20% after making their own investments. U.S.-based Hughes Network Systems, which is supplying parts for OneWeb’s ground segment, also had a small stake.
Hanwha also wishes to build its own 2,000 satellite constellation, targeted for operation by 2030. This investment gives it access to OneWeb’s technology which it can later use.
For OneWeb, this new capital solidifies its full recovery from bankruptcy, and makes it a very viable competitor to SpaceX’s Starlink constellation.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Capitalism in space: Hanwah, a South Korean conglomerate, has now invested $300 million in private capital in the satellite communications company OneWeb.
U.K.-headquartered OneWeb expects regulatory approvals to complete the Hanwha transaction in the first half of 2022, bringing its total investment since emerging from bankruptcy protection in November to $2.7 billion. The startup has said it only needed $2.4 billion to fund its initial constellation of 648 satellites in low Earth orbit.
It reached that in June, after Indian telecom company Bharti Global doubled its investment to $1 billion to secure what would have been a 38.6% stake before Hanwha’s announcement. The U.K. government, French satellite operator Eutelsat and Japanese internet giant Softbank were each in line for just under 20% after making their own investments. U.S.-based Hughes Network Systems, which is supplying parts for OneWeb’s ground segment, also had a small stake.
Hanwha also wishes to build its own 2,000 satellite constellation, targeted for operation by 2030. This investment gives it access to OneWeb’s technology which it can later use.
For OneWeb, this new capital solidifies its full recovery from bankruptcy, and makes it a very viable competitor to SpaceX’s Starlink constellation.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
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