Satellites
(asked on 1st July 2020) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what assessment they have made of the reasons for the collapse of OneWeb in March; and, further to reports that they are considering investing in that company, why they are considering such an investment.
Answered by
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
On July 3rd, 2020, the Government announced it had led a successful bid to acquire OneWeb, who develop cutting-edge satellite technology in the UK and in the United States. The move signals the government’s ambition for the UK to be a pioneer in the research, development, manufacturing, and exploitation of novel satellite technologies through the ownership of a fleet of Low Earth orbit satellites.
As part of developing our bid and making the acquisition, the UK Government undertook appropriate due diligence.
The deal will support the UK to be a pioneer in the research, development, manufacturing, and exploitation of novel satellite technologies, whilst boosting UK manufacturing.
It will also allow the UK to explore other potential strategic opportunities, working with our international allies.