Image: OneWeb
As part of a consortium that includes Indian telecom Bharti Global, the UK government will invest $500 million and take a “significant equity share” in space exploration firm OneWeb, it announced Friday. OneWeb, which has its headquarters in the UK, filed for Chapter 11 bankruptcy protection in the US in March, after it was unable to secure financing. Bharti Global also will invest $500 million as part of the deal.
OneWeb is one of several companies working on an Internet-from-space project, using a combination of low-altitude satellites to beam internet connectivity to ground terminals on Earth’s surface. It was slated to launch a constellation of 650 spacecraft, and its plans included providing internet coverage for the Arctic. So far,...
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UK government takes $500 million stake in space exploration firm OneWeb
![UK government takes $500 million stake in space exploration firm OneWeb]()
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July 03, 2020
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