OneWeb fires up latest satellites following funding boost

OneWeb fires up latest satellites

01 JUL 2021

Satellite communications provider OneWeb launched a further 36 birds into orbit today (1 July), targeting coverage in hard-to-reach polar regions a matter of days after declaring itself financially stable following a fresh funding commitment from Bharti Global.

Launch details on its website explained the latest satellites formed part of OneWeb’s plan to provide broadband access in areas above a latitude of 50-degrees north, including the US state of Alaska, Canada, Greenland, Northern Europe, Finland, the UK, Iceland and Arctic seas.

As of April, the company had launched 182 satellites into space.

The birds contribute to a goal of launching an initial constellation of 648 Low Earth Orbit (LEO) satellites, with the take-off coming two days after OneWeb revealed Bharti Global had upped its financial commitment to the business by exercising an option to invest an additional $500 million.

Bharti Global is part of a UK government-led consortium which agreed a $1 billion rescue package for OneWeb in 2020, pulling the company out of Chapter 11 bankruptcy protection.

OneWeb stated the latest commitment by the Indian conglomerate leaves it “financially secure, with no debt issuance”.

It expects Bharti Global’s latest investment to be made by the year-end, after which it stated the total sum raised since mid-2020 will amount to $2.4 billion.



Michael Carroll

Michael doesn’t want to admit that he has been a journalist and editor for close to 20 years covering a diverse set of subjects including shipping and shipbuilding, fixed and mobile telecoms, and motorcycling...More

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