Work on the first 10 satellites formally started Tuesday at an Airbus factory on France, with a goal of having the satellites completed and launched by next April.
The companies signed the contract Thursday with the European Space Agency, which procures the satellites on behalf of the EU.
FCC Chairman Ajit Pai signaled his support for the company, saying its system "holds unique promise to expand internet access in remote and rural areas."
OneWeb says that the now near-certain collapse of its planned merger with Intelsat has by no means slowed any of the company’s progress, and that other geostationary satellite operators have already expressed interest in taking Intelsat’s place.
The debt swap was a condition of a planned investment by Japan's SoftBank as part of a merger with OneWeb announced earlier this year.
One day after the deadline passed for a debt swap Intelsat needs to ensure its merger with OneWeb — and a $1.7 billion investment from Japanese conglomerate Softbank — come to fruition, Intelsat has again extended the window for shareholders to participate to May 15.
Global satellite fleet operator Intelsat says mobility customers have become the “power users” of its first high-throughput satellites, providing reliable demand while other sectors warm to the new systems at a slower rate.
Sources said the company planned to extend the deadline for bondholders to exchange current bonds with new ones until mid-May.
OneWeb has signed on as Blue Origin’s second customer for its New Glenn orbital launch vehicle, both companies announced March 8.
Boeing’s plan to deploy a constellation of V-band satellites in non-geostationary orbit has prompted at least five companies, including SpaceX and OneWeb, to file me-too proposals with the U.S. Federal Communications Commission.
The two companies would merge in a stock transaction under the agreement.
Satellite telecom startup OneWeb, emboldened by the oversubscribed $1.2 billion Softbank-led investment gained in December, is on the verge of adding another 2,000 satellites to its previously proposed constellation of several hundred satellites.
Satellite broadband hardware and service provider ViaSat continues to invest in shrinking satellite teleport sites down from buildings to the size of closets in order to achieve its goal of getting a terabit of throughput from each ViaSat-3 satellite.
Solar-panel manufacturer SolAero Technologies is investing $10 million to expand its Albuquerque, New Mexico, facility to produce solar panels for OneWeb’s constellation of 900 low-Earth-orbit telecommunciations satellites