UK government to acquire cutting-edge satellite network
Government leads a successful bid to acquire OneWeb which develops cutting-edge satellite technology in the UK and in the US.
- Government-led consortium鈥檚 ownership of OneWeb strengthens UK鈥檚 place on the world stage
- government will provide $500 million to deliver first UK sovereign space capability, alongside $500 million from Bharti Global
- successful bid puts UK at the cutting-edge of the latest advances in space technology
皇冠体育app government has today (3 July) led a successful bid to acquire OneWeb, which develops cutting-edge satellite technology in the UK and in the US.
皇冠体育app move signals the government鈥檚 ambition for the UK to be a pioneer in the research, development, manufacturing, and exploitation of novel satellite technologies through the ownership of a fleet of Low Earth orbit satellites.
Business Secretary Alok Sharma confirmed that the government will invest $500 million and take a significant equity share in OneWeb. This is alongside Bharti Global Ltd, which is part of a group that controls the third largest mobile operator in the world. Bharti will provide the company commercial and operational leadership, and bring OneWeb a revenue base to contribute towards its future success.
皇冠体育app deal will enable the company to complete construction of a global satellite constellation that will provide enhanced broadband and other services to countries around the world.
皇冠体育app deal also offers the UK strategic opportunities across a wide range of other applications, working with our international allies.
With a sovereign global satellite system, the UK will further develop its advanced manufacturing base, making the most of its highly skilled workforce as the hardware is further developed and equipment and services are deployed to make the most of this unique capability.
OneWeb will also contribute to the government鈥檚 plan to join the first rank of space nations, along with our commitment to making the UK a world leader in science, research and development.
皇冠体育app deal is subject to US court approval and regulatory clearances and is expected to close before the end of the year.
It follows the formation of the UK鈥檚 first-ever National Space Council, chaired by the Chancellor of the Exchequer, to consider how space policy can enhance the country鈥檚 prosperity and place in the world, as well as our wider national security interests.
Business Secretary Alok Sharma said:
This deal underlines the scale of Britain鈥檚 ambitions on the global stage.
Our access to a global fleet of satellites has the potential to connect millions of people worldwide to broadband, many for the first time, and the deal presents the opportunity to further develop our strong advanced manufacturing base right here in the UK.
皇冠体育app UK space sector is an economic success story, growing by over 60% since 2010. 皇冠体育app sector, which already supports 拢300鈥痓illion鈥痮f UK economic activity鈥痶hrough the use of鈥痵atellite services, is expected to grow further as new commercial opportunities are unlocked by this agreement.
OneWeb was formed in 2012, and has been developing cutting-edge satellite technology from its bases both here in the UK and in the United States.
皇冠体育app UK government will have a final say over any future sale of the company, and over future access to OneWeb technology by other countries on national security grounds.
Notes to editors
- Bharti, through Bharti Airtel, is the third largest mobile operator in the world, with over 425 million customers. Bharti Airtel has its own extensive mobile broadband networks and enterprise business, which will act as the testing ground for all OneWeb products, services, and applications. Bharti Airtel also operates India鈥檚 leading satellite broadcasting service through Airtel Digital TV to over 16 million households.