August 12, 2021 – Hanwha 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. Hanwha Systems of South Korea invests USD $300m to OneWeb, brings advanced technology capabilities. OneWeb’s first generation fleet of 648 satellites that will deliver global coverage in 2022 is fully funded. To date, the company has launched 254 satellites into orbit, with another launch planned this August from Baikonur, Kazakhstan. Thanks to the success of recent launches, OneWeb’s network will be ready to offer connectivity services from 50th parallel and above by the end of 2021.