NEOM Tech & Digital Holding Company and OneWeb Sign $200 Million Joint Venture for Satellite Network

  • OneWeb Low Earth Orbit (LEO) satellites to service NEOM, the Kingdom and MEA, transforming connectivity to businesses and rural communities
  • High-speed connectivity will be a vital enabler of groundbreaking ecosystem of cognitive technologies

RIYADH, Saudi Arabia, 26 October 2021 (OneWeb PR) — NEOM Tech & Digital Holding Company – the first holding company to be established as a subsidiary of NEOM – and OneWeb, the global communications network powered from space, have signed a $200 million (SAR 750m) joint venture agreement to bring high-speed satellite connectivity to NEOM, Saudi Arabia and the wider Middle East and neighboring East African countries.

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OneWeb Announces Hanwha Systems of South Korea as Significant New Equity Partner

  • Hanwha Systems of South Korea invests USD $300m for an 8.8% share
  • Brings advanced technology capabilities to investor line-up
  • Brings OneWeb total equity investment to USD $2.7bn

LONDON, 12 August 2021 (OneWeb PR) — Hanwha, the South Korean Fortune 500, global technology and manufacturing company has announced a USD $300m equity investment by Hanwha Systems (“Hanwha”) in 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.

This investment brings OneWeb’s total equity investment since November 2020 to USD $2.7bn with no debt issuance. The investment is expected to be completed in the first half of 2022, subject to regulatory approvals.

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OneWeb Secures $550 Million as Eutelsat Takes Significant Equity Stake in Satellite Broadband Company

  • Eutelsat investment brings OneWeb to $1.9 billion in total financing
  • Secures 80% of total financing, as latest launch puts almost 30% of Gen 1 fleet in space
  • Collaboration with Geostationary (GEO) satellite operator offers new customer opportunities
  • Eutelsat joins U.K. Government, Bharti Global and SoftBank as key investors

LONDON, 27 April 2021 (OneWeb PR) — OneWeb, the global communications network powered from space, announces today that it has secured $550 million in funding from Eutelsat Communications (Euronext Paris: ETL), bringing OneWeb’s total funding to $1.9 billion in fresh equity. This investment from one of the world’s most experienced and largest global operators is a vote of confidence in OneWeb and underscores the arrival of Low Earth Orbit (LEO) satellites into mainstream long-term growth planning for major operators.

Eutelsat, one of the world’s leading satellite operators, will receive a c.24% equity stake in OneWeb and similar governance rights to the U.K. Government and Bharti Global, making it a significant equity partner and joining leading investors including the U.K. Government, Bharti Global and SoftBank. The investment is expected to be completed in the second half of 2021, subject to regulatory approvals.

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Video: In Conversation with OneWeb’s Executive Chairman Sunil Bharti Mittal

Sunil Bharti Mittal is the Founder and Chairman of Bharti Enterprises and also Executive Chairman of OneWeb. He says: “These are exciting times and the world now has a LEO alternative to work with. We look forward to partnering with those equally determined to enter this new Space Age. There is unmet demand around the globe for broadband connectivity and we intend to continue OneWeb’s social mission. We will use our joint venture facility to drive down cost of service, opening new use cases for low latency broadband provision.”