{"id":19130,"date":"2016-12-19T21:44:16","date_gmt":"2016-12-19T13:44:16","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/oneweb-wins-billion-dollar-boost-from-softbank-for-internet-satellite-network\/"},"modified":"2016-12-19T21:44:16","modified_gmt":"2016-12-19T13:44:16","slug":"oneweb-wins-billion-dollar-boost-from-softbank-for-internet-satellite-network","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/oneweb-wins-billion-dollar-boost-from-softbank-for-internet-satellite-network\/","title":{"rendered":"OneWeb wins billion-dollar boost from SoftBank for internet satellite network"},"content":{"rendered":"
\"Satellite
An artist\u2019s conception shows a constellation of satellites in orbit. (Credit: OneWeb)<\/figcaption><\/figure>\n

The OneWeb internet satellite venture says it has secured another $1.2 billion in investment, including a billion dollars from SoftBank Group.<\/p>\n

OneWeb said the new infusion of capital will support the construction of a high-volume satellite production facility in Exploration Park, Fla., capable of producing 15 satellites a week. Production is to begin in 2018, with an eye toward having OneWeb\u2019s network operating by as early as 2019.<\/p>\n

The operation is expected to create nearly 3,000 new jobs in the U.S. over the next four years, including jobs in engineering and manufacturing, OneWeb said.<\/p>\n

SoftBank\u2019s investment serves as an initial follow-through on a pledge made by the Japan-based conglomerate\u2019s chairman and CEO, Masayoshi Son, to President-elect Donald Trump. During a meeting in New York this month, Son told Trump that he\u2019d invest $50 billion in the U.S. to create 50,000 jobs.<\/p>\n

\u201cThis is the first step in that commitment,\u201d Son said today in a statement. \u201cAmerica has always been at the forefront of innovation and technological development, and we are thrilled to be playing a part in continuing to drive that growth as we work to create a truly globally connected ecosystem.\u201d<\/p>\n

\"OneWeb
An artist\u2019s conception shows OneWeb\u2019s production facility in Exploration Park, Fla. (Graphic via Business Wire)<\/figcaption><\/figure>\n

Some have speculated that SoftBank\u2019s investment strategy also includes pursuing a merger between telecom provider Sprint, which is majority-owned by SoftBank, and T-Mobile, which has its U.S. headquarters in Bellevue, Wash.<\/p>\n

The newly announced investment is a shot in the arm for OneWeb, which is facing a 2019 deadline to take advantage of a spectrum license granted by the International Telecommunications Union to provide low-cost, high-speed internet service.<\/p>\n

OneWeb\u2019s plan calls for putting up a constellation of 720 low-Earth-orbit satellites, and adding to it as time goes on. The venture says it plans to provide high-speed internet access to \u201cevery unconnected school in the world by 2022.\u201d<\/p>\n

OneWeb\u2019s longer-term goal is to \u201cfully bridge the Digital Divide by 2027, making Internet access available and affordable for everyone,\u201d said Greg Wyler, the company\u2019s chairman.<\/p>\n

Over the past couple of years, OneWeb attracted more than half a billion dollars in investment from Airbus Group, Qualcomm, Bharti Enterprises, Hughes Network Systems, Intelsat, Coca-Cola, the Virgin Group and Totalplay.<\/p>\n