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Written question asked by Andrew Bridgen (The Reclaim Party) on Friday, 13 October 2023, in the House of Commons. It was due for an answer on Wednesday, 18 October 2023 (named day). It was answered by George Freeman (Conservative) on Thursday, 19 October 2023 on behalf of the Department for Science, Innovation and Technology.

OneWeb: Finance

Question

To ask the Secretary of State for Science, Innovation and Technology, how much funding her Department has provided to Oneweb; and how that funding has been used.

Answer

The Department for Science, Innovation and Technology (DSIT) is the lead department for OneWeb and its associated policy and is responding in place of the Department for Business and Trade.

HM Government made an equity investment of $500 million in OneWeb in 2020, securing a strategic investment stake and preferential UK rights to OneWeb manufacturing and supply chains on a commercial basis. This was drawn down over the period July 2020 to August 2023 to meet company cash requirements ahead of OneWeb’s merger with Eutelsat. These funds supported the successful delivery of OneWeb’s first-generation constellation – completed earlier this year – and establishing provision of associated services.

Secondary information

Type
Written question
Reference
201046
Session
2022-23
Transferred
Yes
Subjects
Finance OneWeb
Contains statistics
Yes
Link
View this Written question on www.parliament.uk