Network communications service provider O3b Networks has raised $460m in incremental financing to expand the number of its medium Earth orbit constellation of satellites.
After finalising the fundraising deal, O3b placed an order with Thales Alenia Space to build eight additional satellites for its medium Earth orbit constellation.
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With the new satellites, O3b will increase its medium Earth orbit constellation of satellites from 12 to 20. The satellites will be launched and merged into the existing constellation in 2018.
O3b procured all 12 Ka-band satellites from Thales, which are part of the medium Earth orbit constellation and have been fully operational in orbit since last year.
The medium Earth orbit constellation operates at an altitude of 8,000km, which is four times closer to the Earth than geo-stationary satellites. They provide high speed, low cost, low-latency internet and telecommunications services to individual and commercial entities in growing market areas.
O3b expects to provide improved coverage and better service to its customers with the increased satellite constellation. The company supplies trunking and mobile backhaul connectivity to telecom operators in remote areas of the world.
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By GlobalDataO3b Networks CEO Steve Collar said: "With our energy and government businesses set to grow during 2016, these additional satellites will ensure that we have enough capacity to service the demand and to provide the very best combination of performance and value in the market.
"Our ability to attract close to half a billion dollars of incremental investment so soon after commercial launch demonstrates tremendous confidence in O3b’s business and reflects the success that we have already achieved."
O3b provides connectivity to more than 40 customers worldwide.
Thales Alenia Space president Jean-Loïc Galle said: "The achieved in-orbit performances of the satellites constellation already in service have allowed O3b to significantly increase their market shares and we are proud to contribute to O3b’s growth."
Thales Alenia Space is a joint venture between Thales and Finmeccanica Group. The company provides space telecommunications, navigation, Earth observation, exploration and orbital infrastructures solutions.
Image: O3b ordered eight additional satellites for its medium Earth orbit constellation from Thales Alenia Space. Photo: courtesy of Thales Group.
