Latest news with #IRIS²
Time of India
3 days ago
- Business
- Time of India
South Korea's Hanwha offloads Eutelsat stake as Starlink rival seeks new investors
By Gianluca Lo Nostro South Korea's Hanwha Systems said on Thursday it was selling its entire 5.4% stake in Eutelsat for about 78 million euros ($85 million), as the Franco-British satellite operator seeks new investors. Eutelsat has garnered unprecedented attention this year from governments looking for home-grown alternatives to SpaceX's Starlink for satellite internet connectivity. The company is working on a new financing plan to fund the second generation of its low Earth orbit (LEO) OneWeb satellites and to fulfil commitments to the European Union 's IRIS² project. It has piled up hundreds of millions of euros in losses, particularly from its waning video business, while its 2023 acquisition of OneWeb has yet to yield the results it had hoped for due to competition and delayed deployment of technology. Finance chief Christophe Caudrelier said in May that Eutelsat was looking for capital investors. Hanwha's shares were offered at 3.00 euros ($3.42) apiece, representing a 13.9% discount to Eutelsat's closing price of 3.48 euros on Wednesday, a term sheet from bookrunner Citi showed. It also marks a steep 74% loss on Hanwha's initial $300 million investment made in OneWeb in 2021, with the stake now valued at just $85 million. The South Korean company said the sale, which is set to be concluded on Thursday, was not driven by an investment perspective but by a strategic shift to focus more on its core business operations. "This decision reflects a long-term strategy to concentrate on defense-related satellites and military communications , rather than on civilian satellite operations and services," Hanwha said in a statement to Reuters. A representative for Hanwha resigned from Eutelsat's board in April, signalling the company's diminishing involvement with the satellite operator. MAJOR OVERHAUL When asked by Reuters, Eutelsat said none of the other shareholders had expressed interest in selling their shares. A company spokesperson declined to comment on media reports saying France may raise its stake in the group. Eutelsat is also reshuffling its upper echelons. In a surprise move last month, it appointed Jean-Francois Fallacher as its new CEO and it is looking for a new chairperson after the current one announced his departure in February. Eutelsat's Paris-listed shares fell as much as 16.8% in early trading on Thursday. Hanwha became a shareholder in OneWeb before it merged with Eutelsat. It is also one of OneWeb's distributors in South Korea as part of an agreement signed in 2023 with the aim of securing LEO communications for the government and providing internet access to underserved areas. Last week, South Korea's Science Ministry granted licenses to Starlink and Eutelsat OneWeb to operate in the country, with services expected to be launched soon.
Broadcast Pro
08-05-2025
- Business
- Broadcast Pro
ST Engineering iDirect leads Phase 2 of European Protected Waveform project
Backed by 35m from the European Defence Fund, Phase 2 unites 22 organisations from 12 EU nations to prototype a secure, interoperable waveform aligned with IRIS² and GovSatCom initiatives. ST Engineering iDirects EU Satcom Centre of Excellence, based in Sint-Niklaas, Belgium, has announced the launch of Phase 2 of the European Protected Waveform (EPW) project. The initiative, led by Belgiums Ministry of Defence with ST Engineering iDirect Europe as the consortium lead, marks a major step forward in Europes pursuit of secure, resilient and autonomous satellite communication systems. The EPW project is a collaborative effort involving 22 organisations from 12 EU Member States, bringing together expertise from the public sector, industry and academia. Its objective is to develop an advanced, end-to-end waveform solution tailored to meet the complex demands of military and critical government communications, particularly in contested and evolving operational environments. Building on the foundational work completed in Phase 1, which laid the groundwork for the waveforms design, the second phase of the project will focus on prototyping and integrating the EPW system. A key aim is to ensure that the system is fully secure and interoperable, aligning with the strategic priorities of major European initiatives such as the upcoming IRIS² satellite constellation and the EUs GovSatCom programme. Theo Francken, Belgian Minister of Defence, said: 'Together with ST Engineering iDirect Europe, we are investing in the backbone of modern military operations: secure and reliable communication. With support from the European Defence Fund, we are advancing technological innovation, strengthening strategic autonomy, and enhancing the safety of our troops. In todays uncertain world, European cooperation in research and development is not a luxury its an absolute necessity. This project aligns perfectly with our broader mission to modernise Defence and deepen European collaboration in R&D.' Koen Willems, Vice President, EU Programmes, at ST Engineering iDirect Europe, added: 'The advancement to EPW Phase 2 underscores the strategic importance of this initiative to bolster European autonomy in secure satellite communications. This recognition by the European Defence Fund demonstrates the urgent necessity to address emerging threats and foster resilience for critical operations across Europe.' The total investment in the EPW project now stands at 65m, with 35m dedicated to Phase 2 following the 30m allocation in Phase 1. This investment highlights Europes commitment to advancing protected satellite communications and strengthening collaborative defence capabilities among its Member States.
Cision Canada
07-05-2025
- Business
- Cision Canada
ST Engineering iDirect Leads the European Protected Waveform Consortium into Phase 2
Setting the EU standard for secure, adaptable and interoperable satellite communications to support military operations and the IRIS² constellation SINT-NIKLAAS, Belgium, May 7, 2025 /CNW/ -- ST Engineering iDirect's EU Satcom Centre of Excellence, ST Engineering iDirect Europe, based in Sint-Niklaas, Belgium, today announced the advancement of the European Protected Waveform (EPW) project to its second phase. Under the leadership of Belgium's Ministry of Defence and with ST Engineering iDirect Europe as the consortium lead, this milestone marks significant progress in enhancing secure and autonomous satellite communications for Europe. The project brings together a consortium of 22 organisations from 12 EU Member States, encompassing experts from industry, government and academia. This collaborative effort aims to develop a comprehensive, end-to-end waveform solution designed to ensure resilient and secure communications for military operations and critical government needs in increasingly complex operational environments. With the foundation established during Phase 1 that laid the framework for the waveform's initial development, Phase 2 focuses on the prototyping and integration of the EPW system. The goal is to provide secure, interoperable systems that align with Europe's strategic initiatives, including the future IRIS² satellite constellation and the EU GovSatCom programme. "Together with ST Engineering iDirect Europe, we are investing in the backbone of modern military operations: secure and reliable communication," said Theo Francken, Belgian Minister of Defence. "With support from the European Defence Fund, we are advancing technological innovation, strengthening strategic autonomy, and enhancing the safety of our troops. In today's uncertain world, European cooperation in research and development is not a luxury — it's an absolute necessity. This project aligns perfectly with our broader mission to modernise Defence and deepen European collaboration in R&D." "The advancement to EPW Phase 2 underscores the strategic importance of this initiative to bolster European autonomy in secure satellite communications," said Koen Willems, Vice President, EU Programmes, at ST Engineering iDirect Europe. "This recognition by the European Defence Fund demonstrates the urgent necessity to address emerging threats and foster resilience for critical operations across Europe." The total investment in the EPW project now stands at €65 million, with €35 million dedicated to Phase 2 following the €30 million allocation in Phase 1. This investment highlights Europe's commitment to advancing protected satellite communications and strengthening collaborative defence capabilities among its Member States. The European Protected Waveform (Phase 2) is funded by the European Union. Views and opinions expressed are however those of ST Engineering iDirect Europe only and do not necessarily reflect those of the European Union or the European Commission. Neither the European Union nor the granting authority can be held responsible for them. About ST Engineering iDirect Europe ST Engineering iDirect Europe, located in Sint-Niklaas, Belgium, is ST Engineering iDirect's EU Satcom Center of Excellence specialising in the development of ground segment technology and solutions specifically for the EU. As a legal Belgian entity, ST Engineering iDirect Europe has its own board of directors to comply to the guidelines and conditions as put forward by the EU Commission and the Belgian Government. With over 35 years of experience, the ST Engineering iDirect portfolio of high-value product lines and services in addition to a dedicated team of domain specialists, and a ISO9001 certified manufacturing center the team has a portfolio of capabilities to cater to the specific needs of European funded satcoms programs.
Yahoo
04-04-2025
- Business
- Yahoo
Exclusive-Germany funds Eutelsat internet in Ukraine as Musk tensions rise
By Gianluca Lo Nostro, Cassell Bryan-Low and Barbara Erling PARIS (Reuters) - Berlin has been paying for Ukraine's access to a satellite-internet network operated by France's Eutelsat, as Europe seeks alternatives to Elon Musk's Starlink. Eutelsat's chief executive Eva Berneke told Reuters the company has provided its high-speed satellite internet service to Ukraine for about a year via a German distributor. Speaking at the company's headquarters in Paris on Thursday, she said it was funded by the German government, but declined to comment on the cost. Berneke said there were fewer than a thousand terminals connecting users in Ukraine to Eutelsat's network, which is a small fraction of the roughly 50,000 Starlink terminals Ukraine says it has, but she said she expected the figure would rise. "Now we're looking to get between 5,000 and 10,000 there relatively fast," she said, adding it could be "within weeks". Asked whether Germany would also fund that additional provision, Eutelsat spokesperson Joanna Darlington said the issue was under discussion. "We don't know yet how the EU collectively or country by country will fund efforts going forward," Darlington said. Germany's foreign ministry did not respond to requests for comment. STARLINK RELIANCE WORRIES EUROPE U.S. President Donald Trump's more hostile approach to Ukraine since his return to the White House has sparked concern in Europe about reliance on Starlink. It is part of rocket company SpaceX, owned by tech billionaire Musk who is close to Trump. Starlink provides crucial internet connectivity to Ukraine and its military in the war against Russia. Eutelsat's OneWeb division is Starlink's main rival in providing high-speed internet satellite via low-Earth orbit satellites. These sit at lower altitudes than traditional satellites, allowing them to transmit data extremely efficiently, providing high-speed internet for remote communities, seafaring vessels and militaries. Eutelsat previously said it was engaged in discussions with the European Union about supplying additional internet access to Ukraine. On Thursday, Berneke said talks with Brussels regarding Ukraine were active, and that they were principally taking place within an EU-backed consortium Eutelsat belongs to that is working on a long-term satellite project known as IRIS². She said Eutelsat has capacity it could offer Ukraine via its network of geostationary satellites, which sit further away from earth and typically offer slower connectivity speeds. She said that network uses terminals that are relatively low cost and is good for consumer use or for having as an alternative. 'When you're in a situation as you see in Ukraine today, you want to have all your options open,' she said. As long as Starlink works in the country, it doesn't 'make sense to choose not to use it,' she said. However, it makes sense to have a plan B 'especially when you've had these kinds of situations where it got a little bit tense around whether that was going to be still an option, you'd want to have alternatives.' About half of the 50,000 Starlink terminals Ukraine says it has received were supplied by the Polish government, which says that since 2022 it has spent about $84 million on Starlink terminals and service. The U.S. government and SpaceX have also provided Starlink access to Ukraine. Last month, the European Commission said in a white paper that the European Union should fund Ukraine's access to space services that can be provided by EU-based commercial providers. The European Commission's defence chief Andrius Kubilius met with Poland's defence minister while in Warsaw this week. Asked by Reuters during a news conference Wednesday about the status of discussions on Starlink alternatives in Ukraine, Kubilius said there are solutions that will be implemented in the event of 'unexpected developments,' but declined to elaborate. Europe needs to develop its own capabilities 'in a rapid and urgent way,' Kubilius added. He noted that there are two European efforts underway. One known as GOVSATCOM that brings together national satellites should be ready from the middle of this year, he said. The other is the EU-backed IRIS² project, which is a public-private partnership that is not due to be operational until around 2030. (Additional reporting by Riham Alkousaa in Berlin; editing by Barbara Lewis)
Reuters
04-04-2025
- Business
- Reuters
Exclusive: Germany funds Eutelsat internet in Ukraine as Musk tensions rise
PARIS, April 4 (Reuters) - Berlin has been paying for Ukraine's access to a satellite-internet network operated by France's Eutelsat ( opens new tab, as Europe seeks alternatives to Elon Musk's Starlink. Eutelsat's chief executive Eva Berneke told Reuters the company has provided its high-speed satellite internet service to Ukraine for about a year via a German distributor. Speaking at the company's headquarters in Paris on Thursday, she said it was funded by the German government, but declined to comment on the cost. Berneke said there were fewer than a thousand terminals connecting users in Ukraine to Eutelsat's network, which is a small fraction of the roughly 50,000 Starlink terminals Ukraine says it has, but she said she expected the figure would rise. "Now we're looking to get between 5,000 and 10,000 there relatively fast," she said, adding it could be "within weeks". Asked whether Germany would also fund that additional provision, Eutelsat spokesperson Joanna Darlington said the issue was under discussion. "We don't know yet how the EU collectively or country by country will fund efforts going forward," Darlington said. Germany's foreign ministry did not respond to requests for comment. STARLINK RELIANCE WORRIES EUROPE U.S. President Donald Trump's more hostile approach to Ukraine since his return to the White House has sparked concern in Europe about reliance on Starlink. It is part of rocket company SpaceX, owned by tech billionaire Musk who is close to Trump. Starlink provides crucial internet connectivity to Ukraine and its military in the war against Russia. Eutelsat's OneWeb division is Starlink's main rival in providing high-speed internet satellite via low-Earth orbit satellites. These sit at lower altitudes than traditional satellites, allowing them to transmit data extremely efficiently, providing high-speed internet for remote communities, seafaring vessels and militaries. Eutelsat previously said it was engaged in discussions with the European Union about supplying additional internet access to Ukraine. On Thursday, Berneke said talks with Brussels regarding Ukraine were active, and that they were principally taking place within an EU-backed consortium Eutelsat belongs to that is working on a long-term satellite project known as IRIS². She said Eutelsat has capacity it could offer Ukraine via its network of geostationary satellites, which sit further away from earth and typically offer slower connectivity speeds. She said that network uses terminals that are relatively low cost and is good for consumer use or for having as an alternative. 'When you're in a situation as you see in Ukraine today, you want to have all your options open,' she said. As long as Starlink works in the country, it doesn't 'make sense to choose not to use it,' she said. However, it makes sense to have a plan B 'especially when you've had these kinds of situations where it got a little bit tense around whether that was going to be still an option, you'd want to have alternatives.' About half of the 50,000 Starlink terminals Ukraine says it has received were supplied by the Polish government, which says that since 2022 it has spent about $84 million on Starlink terminals and service. The U.S. government and SpaceX have also provided Starlink access to Ukraine. Last month, the European Commission said in a white paper that the European Union should fund Ukraine's access to space services that can be provided by EU-based commercial providers. The European Commission's defence chief Andrius Kubilius met with Poland's defence minister while in Warsaw this week. Asked by Reuters during a news conference Wednesday about the status of discussions on Starlink alternatives in Ukraine, Kubilius said there are solutions that will be implemented in the event of 'unexpected developments,' but declined to elaborate. Europe needs to develop its own capabilities 'in a rapid and urgent way,' Kubilius added. He noted that there are two European efforts underway. One known as GOVSATCOM that brings together national satellites should be ready from the middle of this year, he said. The other is the EU-backed IRIS² project, which is a public-private partnership that is not due to be operational until around 2030.
