Citing a story in the Sunday Telegraph, City A.M. reports that Softbank took a £380 million ($424.7 million) impairment loss on its investment in OneWeb. Softbank is the largest shareholder in the Internet satellite company.
Airbus, Qualcomm and Virgin Group are among other shareholders in the London-based satellite firm, which boasts a valuation of more than $1bn (£823m) and has earned sought-after “unicorn” status.
In addition to the Softbank writedown, some early investors have lost as much as half of the value of their stakes, according to the report
Oneweb, which secured $1.25bn in its latest Softbank-led funding round, has ramped up its plans for satellite production amid competition from Elon Musk’s SpaceX and Jeff Bezos’s Amazon.
OTTAWA (Innovation, Science and Economic Development Canada PR) — Canada’s future depends on connectivity. In today’s digital world, access to high-speed Internet is a necessity for success. That is why the Government of Canada is investing in innovative satellite technologies to help improve high-speed broadband access for all Canadians, particularly in rural and remote regions.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science
and Economic Development, announced an $85 million investment in
Canadian satellite company Telesat to build and test innovative
technologies for its low-earth-orbit (LEO) satellite constellation.
Telesat’s constellation will significantly improve global connectivity
and expand high-speed Internet coverage to rural and remote regions
throughout Canada, including the Far North.
Joint venture between OneWeb and Airbus sees satellite manufacturing facility open in Florida helping to revitalise Florida’s Space Coast with 250 new high-tech jobs and 3,000 indirect jobs through the supply chain
Department for International Trade celebrates 1 year of the Space Exports Strategy
In 2015, American companies represented nearly half of all FDI in the UK space sector—roughly £5.1bn of £12bn
EXPLORATION PARK, Fla. (UK Department of International Trade PR) — Today (July 22) UK-based OneWeb, the communications company powered by satellites, announced the opening of OneWeb Satellites, the first-ever, high-volume satellite manufacturing facility on Merritt Island, Florida, as part of a joint venture with Airbus. It comes just after the 50th anniversary of the first moon landing.
EXPLORATION PARK, Florida, USA, July 22, 2019 – OneWeb Satellites – a joint venture of OneWeb
and Airbus – today officially opened the world’s first high-volume,
high-speed advanced satellite production facility to bring
transformative internet connectivity to everyone, everywhere.
are custom built, costing tens of millions of dollars to build, and
taking more than a year to produce a single one. The OneWeb Satellites facility is the first to employ industrial-scale
mass production techniques for satellites, enabling dramatically reduced costs and production times that can deliver one
satellite per production shift or two a day, while significantly
expanding internet connectivity and making space technology far more
OneWeb proves satellite constellation can deliver high-speed, low-latency services from Space.
Comprehensive tests delivered live Full HD (1080p) streaming video at latency of less than 40 milliseconds and with speeds of over 400 Mbps.
All satellites in orbit, launched in February 2019 are performing well.
Test conducted in partnership with Intellian, developer of OneWeb user terminals.
LONDON, July 16, 2019 (OneWeb PR) – OneWeb, whose mission is to enable internet access everywhere for everyone, is delighted to announce the successful test of its six satellites in Low Earth Orbit. All satellites delivered high-speed, low-latency services, with speed of more than 400 Mbps which enabled the fastest real-time video streaming in Full HD from Space. The tests, which took place in Seoul, South Korea, represent the most significant demonstration of the OneWeb constellation to date, proving its ability to provide superior broadband connectivity anywhere on the planet.
OSLO, Norway (Space Norway PR) — Space Norway will cooperate with the satellite operator Inmarsat and the Norwegian Ministry of Defence to offer mobile broadband coverage to civilian and military users in the Arctic. Two satellites will be built by Northrop Grumman and are scheduled to be launched by SpaceX in late 2022. The ground station will be established in North Norway and ensure Norwegian control of this critically important capability.
Dulles, Va. (Northrop Grumman PR) – Northrop Grumman Corporation (NYSE: NOC) has been awarded a contract by Space Norway to deliver its Arctic Satellite Broadband Mission (ASBM) system. Northrop Grumman will design, manufacture and integrate two satellites in addition to providing critical ground infrastructure.
Jeff Bezos and Amazon.com marked Independence Day by filing an application with the Federal Communications Commission to launch 3,236 satellites to provide global Internet services from space. The Los Angeles Timesreports:
Amazon in its FCC application said its satellites would operate at altitudes of about 370 to 390 miles (590 to 630 kilometers).
Amazon Chief Executive Jeff Bezos last month said the Kuiper project would cost “multiple billions of dollars.” The project is separate from Bezos’ space launch vehicle maker, Blue Origin.
In its FCC filing, Amazon said it would help serve U.S. communities “by offering fixed broadband communications services to rural and hard-to-reach areas.” The Kuiper System will help mobile network operators to expand wireless services, Amazon said in its application. It also offered the prospect of “high-throughput mobile broadband connectivity services for aircraft, maritime vessels and land vehicles.”
Amazon is in a race with OneWeb, SpaceX and other companies to provide global broadband services from space. SpaceX has received approval for nearly 12,000 satellites and launched the first 60 spacecraft of its Starlink constellation in May. OneWeb launched the first six of a planned 648 satellites in February.
On May 23rd entrepreneur Elon Musk’s company SpaceX launched 60 Starlink communication satellites aboard a single rocket. Within days skywatchers worldwide spotted them flying in formation as they orbited Earth and reflected sunlight from their shiny metal surfaces. Some people, unaware that artificial satellites can be seen moving against the starry background every clear night, reported UFO sightings. Astronomers, on the other hand, knew exactly what they were seeing — and immediately began to worry.
When the contract was announced in June 2015, it seemed like a blockbuster deal: satellite Internet provider OneWeb had placed an order for 39 launches with options for 100 more for Virgin Galactic’s (now Virgin Orbit’s) LauncherOne.
What made the order extraordinary was not just the large number of launches, but the fact that the rocket really didn’t even exist yet. (The fact that Richard Branson’s Virgin Group was an investor in OneWeb probably helped.)
Four years later, the blockbuster deal is a bust. According to a lawsuit filed this week by Virgin Orbit, OneWeb last year canceled 35 of the 39 planned launches., slicing most of the value from the $234 million deal.
SpaceNewsreports that Virgin Orbit orbit is suing for $46.32 million it claims OneWeb owes it from a $70 million contract termination fee.
We continue to track the progress of the Starlink satellites during early orbit operations. At this point, all 60 satellites have deployed their solar arrays successfully, generated positive power and communicated with our ground stations.
Most are already using their onboard propulsion system to reach their operational altitude and have made initial contact using broadband phased array antennas.
SpaceX continues to monitor the constellation for any satellites that may need to be safely deorbited. All the satellites have maneuvering ability and are programmed to avoid each other and other objects in orbit by a wide margin.
Also, please note that the observability of Starlink satellites is dramatically reduced as they raise orbit to greater distance and orient themselves with their phase array antennas toward Earth and their solar arrays behind the body of the satellite.
Editor’s Note: During a talk at MIT earlier this week, President Gwynne Shotwell said 56 satellites were performing as expected and that four had problems. She did not elaborate on the nature of the problems.
On the heels of the launch of 60 SpaceX Starlink satellites on Thursday comes news that SpaceX has raised $1.02 billion since the beginning of the year. CNBC reports:
SpaceX continues to accelerate its fundraising, as SEC filings indicate the company sought equity rounds of $500 million in January and $400 million in April. CEO Elon Musk had said those rounds were oversubscribed in terms of investor interest.
The filing on Friday, an amendment of the company’s April filings, shows that SpaceX did bring in more funding than expected. The company raised $1.02 billion since the beginning of the year – greater than the $900 million it sought across the two rounds. Gigafund, led by Luke Nosek (a PayPal co-founder and SpaceX board member) and Stephen Oskoui, once again invested in the round for SpaceX, people familiar with the fundraising told CNBC.
Meanwhile, things at Musk’s electric car company aren’t nearly as rosy.
Update: SpaceX scrubbed for Thursday to update satellite software and make additional checks. Next launch attempt will be in about one week.
SpaceX was forced to cancel a Falcon 9 launch with 60 Starlink satellites on board on Wednesday night due to high upper-level winds. Tonight’s launch window opens at 10:30 p.m. EDT, or 2:30 UTC on May 17, and closes at 12:00 a.m. on May 17, or 4:00 UTC. The launch webcast will go live about 15 minutes before liftoff at spacex.com/webcast. The ground weather forecast is 90 percent go for launch.
SpaceX CEO Elon Musk gave a media teleconference during which he describes elements of the Starlink satellite constellation, which is designed to provide high-speed broadband and other communications on a global basis. Here are the highlights:
although the constellation could eventually number nearly 12,000 satellites, it would be economically viable with about 1,000 spacecraft;
Musk said “it looks like we have sufficient capital to get to an operational level”;
Starlink would be able to provide coverage to limited areas of the globe with 400 satellites, which would require a total of seven launches;
the constellation would be able to provide coverage for the United States with 12 launches, most of the world’s population with 24, and the entire planet with 30 launches;
the 60 satellites being launched are equipped with phased array antennas and ion propulsion units that use krypton instead of more expensive xenon gas;
the spacecraft do not have inter-satellite communications links, which will be added to future iterations of the spacecraft;
Starlink satellites should last four to five years in orbit before they burn up in the Earth’s atmosphere;
spacecraft will be able to detect and avoid orbital debris;
ground terminals are about the size of a small or medium pizza and use phased array, electronically steered antennas that can switch between satellites in under a thousandth of a second with a latency of under 20 milliseconds;
SpaceX has not signed up any customers yet, but is targeting telecommunications companies, governments, maritime industries, aviation and under served areas of the globe;
Musk sees Starlink as providing a revenue stream to fund SpaceX’s Starship launch system and his dream of establishing settlements on Mars;
annual revenues could approach more than $30 billion per year, 10 times the approximately $3 billion that the launch side of SpaceX’s business brings in; and,
60 satellites weigh about 18.5 tons, which is the heaviest payload ever launched by Falcon 9 or Falcon Heavy.
CAPE CANAVERAL AIR FORCE STATION, Fla. (SpaceX PR) — SpaceX is targeting Wednesday, May 15 for the launch of 60 Starlink satellites from Space Launch Complex 40 (SLC-40) at Cape Canaveral Air Force Station, Florida. SpaceX’s Starlink is a next-generation satellite network capable of connecting the globe, especially reaching those who are not yet connected, with reliable and affordable broadband internet services.
The launch window opens at 10:30 p.m. EDT on May 15, or 2:30 UTC on May 16, and closes at 12:00 a.m. on May 16, or 4:00 UTC. A backup launch window opens on Thursday, May 16 at 10:30 p.m. EDT, or 2:30 UTC on May 17, and closes at 12:00 a.m. on May 17, or 4:00 UTC. The Launch webcast will go live about 15 minutes before liftoff at spacex.com/webcast.