. 24/7 Space News .
SPACEMART
OneWeb announces key funding from SoftBank Group and other investors
by Staff Writers
Exploration Park FL (SPX) Dec 21, 2016


Rendering of OneWeb Exploration Park, Florida manufacturing facility to begin production in 2018. Image courtesy Business Wire. For a larger version of this image please go here.

OneWeb reports it has secured $1.2 billion in funded capital from SoftBank and existing investors, of which $1 billion will come from SoftBank. The $1.2 billion fundraising round announced will support OneWeb's revolutionary technological development and the construction of the world's first and only high volume satellite production facility.

The new facility, based in Exploration Park, Florida will be capable of producing 15 satellites per week at a fraction of the cost of what any satellite manufacturing facility in the world can produce today, and expediting construction, launch and operations of its communications network. The investment is expected to create nearly 3,000 new engineering, manufacturing and supporting jobs in the U.S. over the next four years.

The SoftBank-led investment will also support development to enable global access to affordable high-speed internet services for everyone, including every unconnected school in the world by 2022, as well as using OneWeb's leading technology for growing global markets including consumer broadband, connected cars, cellular backhaul and the Internet of Things. OneWeb will begin production at the new manufacturing facility in Exploration Park, Florida, beginning in 2018.

Founded in 2012 with the mission of providing affordable internet access for everyone, OneWeb is transforming the design and manufacture of satellites through innovative technologies that enable faster, cheaper, and higher-volume production. Existing investors in OneWeb include Qualcomm Incorporated, Airbus Group, Bharti Enterprises, Hughes Network Systems, a subsidiary of EchoStar Corp., Intelsat, The Coca-Cola Company, the Virgin Group, and Totalplay, a Grupo Salinas Company.

OneWeb plans to design and build a constellation starting with 720 low earth orbit (LEO) satellites, the largest in history, in order to provide global internet coverage with industry leading speed and performance, significantly lower latency, as well as a significant cost advantage as a result of advanced, low-risk manufacturing techniques.

With more than 10 terabits per second of new capacity and User Terminals containing embedded LTE, 3G, 2G and Wifi, the OneWeb system will extend the networks of mobile operators and internet service providers (ISPs) to serve new coverage areas at a lower cost, bringing voice and data access to consumers, businesses, schools, healthcare institutions and other end users across the U.S. and around the world.

"SoftBank has a long history of investing in disruptive, foundational technologies that promise to help us realize the future sooner. OneWeb is a tremendously exciting company poised to transform internet access around the world from their manufacturing facility in Florida," said Masayoshi Son, Chairman and CEO of SoftBank.

"Earlier this month I met with President-Elect Trump and shared my commitment to investing and creating jobs in the U.S. This is the first step in that commitment. America has always been at the forefront of innovation and technological development and we are thrilled to be playing a part in continuing to drive that growth as we work to create a truly globally connected ecosystem."

Greg Wyler, Founder of OneWeb, said, "I have long admired Mr. Son's track record and his vision for the future of a technologically-powered world. I am honored to welcome SoftBank as a long-term investor and strategic partner. SoftBank's investment underscores the evolution and continued success of our company and accelerates our strategic growth plan. We look forward to working together as we execute on our mission to build a global knowledge infrastructure that provides affordable broadband to the over four billion people across the globe without internet access."

The transaction is expected to close in the first quarter of 2017, subject to the satisfaction of certain customary closing conditions and regulatory approvals. In connection with the investment, SoftBank Group Corp. Director Ronald D. Fisher will join OneWeb's Board of Directors.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Onewe
The latest information about the Commercial Satellite Industry






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
SPACEMART
SoftBank delivers first $1 bn of Trump pledge, to space firm
Washington (AFP) Dec 19, 2016
Satellite broadband firm OneWeb on Monday announced a $1.2 billion funding round led by SoftBank, the first concrete investment from the Japanese group which made a pledge to President-elect Donald Trump. SoftBank, which is providing $1 billion of the funding for the project aimed at providing global internet access via satellite, made the announcement just two weeks after its chief executiv ... read more


SPACEMART
Two US astronauts complete spacewalk to upgrade ISS

NASA Assigns Upcoming Space Station Crew Members

Hubble provides interstellar road map for Voyagers' galactic trek

The hidden artist of the Soviet space programme

SPACEMART
Arianespace to launch Intelsat 39

Arianespace to launch JCSAT-17 for SKY Perfect JSAT

Arianespace looks to the future with confidence

Poor weather delays SpaceX rocket launch five days

SPACEMART
New Year yields interesting bright soil for Opportunity rover

Hues in a Crater Slope

3-D images reveal features of Martian polar ice caps

Odyssey recovering from precautionary pause in activity

SPACEMART
China Space Plan to Develop "Strength and Size"

Beijing's space program soars in 2016

China Plans to Launch 1st Mars Probe by 2020 - State Council Information Office

China to expand int'l cooperation on space sciences

SPACEMART
Airbus DS and Energia eye new medium-class satellite platform

Space as a Driver for Socio-Economic Sustainable Development

SoftBank delivers first $1 bn of Trump pledge, to space firm

Intel acquires ESA incubator company

SPACEMART
Lockheed Martin to build NASA's trojan asteroid explorer Lucy

Southwestern alumna becomes orbital debris scientist at NASA

APL provides key instruments for NASA dual Discovery Missions

Elbit contracted for airborne laser designator work

SPACEMART
Hubble detects 'exocomets' taking the plunge into a young star

Between a rock and a hard place: can garnet planets be habitable

Could dark streaks in Venusian clouds be microbial life

The blob can learn and teach

SPACEMART
York U research identifies icy ridges on Pluto

Lowell Observatory to renovate Pluto discovery telescope

Flying observatory makes observations of Jupiter previously only possible from space

Exploring Pluto and the Wild Back Yonder









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.