Hanwha, the South Korean global technology and manufacturing company has announced a USD $300m equity investment in Bharti Group-backed OneWeb, the Low Earth Orbit (LEO) satellite communications company.
Hanwha brings further defence capabilities and the latest antenna technologies to OneWeb, alongside relationships to new government customers and expanded geographical reach.
OneWeb's first generation fleet of 648 satellites that will deliver global coverage in 2022 is fully funded. To date, the company has launched 254 satellites into orbit, with another launch planned this August from Baikonur, Kazakhstan. Thanks to the success of recent launches, OneWeb's network will be ready to offer connectivity services from 50th parallel and above by the end of 2021.
Youn Chul KIM President, Chief Executive Officer and Director at Hanwha Systems
We are pleased to join hands with OneWeb, which has strength in the LEO communication area, the core of space business. To OneWeb 's vision of connecting all the people across the globe, Hanwha System's satellite and antenna technology will bring more advantages.
Neil Masterson, Chief Executive at OneWeb
We are all delighted that they have chosen to join us on this journey of innovation, shaping a global service to connect the most remote locations and to provide a critical digital pathway from space to our interconnected world.
