Breaking News
Investing Pro 0
🙌 It's Here: the Only Stock Screener You'll Ever Need Get Started

OneWeb to launch satellites with rival SpaceX after suspending ties with Russian agency

Published Mar 21, 2022 07:19PM ET Updated Mar 21, 2022 07:25PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: A Soyuz-2.1b rocket booster with a Fregat upper stage and satellites of British firm OneWeb is removed from a launchpad after the launch was cancelled at the Baikonur Cosmodrome, Kazakhstan March 4, 2022. Roscosmos/Handout via REUTER/File Phot 2/2
 
AMZN
+1.21%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
EUTLF
-0.46%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

(Reuters) - Weeks after Moscow forced the 11th-hour cancellation of a rocket launch for British satellite venture OneWeb from Russia's Baikonur Cosmodrome in Kazakhstan, the company said on Monday it has contracted with Elon Musk's SpaceX to send its satellites into orbit.

Terms of the deal with California-based SpaceX, a direct competitor of OneWeb in the burgeoning broadband satellite industry, were not disclosed.

Earlier this month, OneWeb called off the scheduled March 4 launch of 36 satellites from Baikonur and suspended ties with Russia's space agency Roscosmos because of last-minute demands imposed on the company by Moscow, including a guarantee that OneWeb's technology would not be used for military purposes.

The OneWeb launch scrub came amid heightened tensions between Russia and NATO governments, including Britain, over economic sanctions imposed against Moscow by the West in response to Russia's Feb. 24 invasion of Ukraine.

The British government, which holds a stake in OneWeb, also said it was reviewing its participation in further projects with Russia in light of the Ukraine crisis.

The British satellite firm expects its first launch with SpaceX later this year to add to its constellation of 428 satellites already in low-Earth orbit.

"With these launch plans in place, we’re on track to finish building out our full fleet of satellites," OneWeb Chief Executive Officer Neil Masterson said.

OneWeb, which plans to offer universal broadband through a network that will ultimately consist of 650 satellites, was rescued from bankruptcy by the British government and Indian telecoms giant Bharti Global in 2020. Eutelsat Communications (OTC:EUTLF) and SoftBank Group Corp are among other investors in the firm.

SpaceX's Starlink, one of several ventures in the fast-growing satellite broadband business, including Amazon.com Inc (NASDAQ:AMZN) subsidiary Project Kuiper, has put some 1,500 satellites in operation, providing internet access to regions underserved or hard to reach for other services.

OneWeb to launch satellites with rival SpaceX after suspending ties with Russian agency
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email