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To ask the Secretary of State for Business, Energy and Industrial Strategy, whether the business case for the Government's investment in Oneweb is affected by the decision to choose Starlink to trial broadband satellite connectivity.
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether the business case for the Government's investment in Oneweb is affected by the decision to choose Starlink to trial broadband satellite connectivity.
The business case for the Government’s investment in OneWeb is not affected by the recent Department for Digital, Culture, Media and Sport (DCMS) announcement regarding some initial limited satellite broadband trials in the UK. The decision was based on the immediate availability of equipment that had a suitably unobtrusive size for the first trial sites and could be deployed quickly at low cost. DCMS remain in discussions with OneWeb on supporting more complex trial sites and expect that OneWeb equipment will be tested as part of this trial in the future.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what the outcome was of his Department's recent assessment of the value of its investment in the OneWeb company.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what the outcome was of his Department's recent assessment of the value of its investment in the OneWeb company.
Investing in OneWeb provides the UK with a range of strategic and commercial opportunities, including the potential to create jobs, expand the UK's supply chain and boost the manufacturing sector.
OneWeb will contribute to the UK's ambition to become a world leader in the Space sector.
To ask Her Majesty's Government whether their equity investment in OneWeb has been completed; and if not, whether there are any approvals from the government of the United States which are required before any such investment is completed.
To ask Her Majesty's Government whether their equity investment in OneWeb has been completed; and if not, whether there are any approvals from the government of the United States which are required before any such investment is completed.
On Friday 2 October 20, the United States Bankruptcy Court for the Southern District of New York confirmed OneWeb’s Chapter 11 plan of reorganisation, ensuring that the company remains on target to resume full business operations imminently.
This is a major step in OneWeb’s reorganisation process, and toward HM Government’s equity investment being completed.
To ask Her Majesty's Government whether they have agreed with their investment partners that OneWeb's manufacturing capability will be brought back from the United States to the UK.
To ask Her Majesty's Government whether they have agreed with their investment partners that OneWeb's manufacturing capability will be brought back from the United States to the UK.
The terms of the deal offer opportunities to bring future research and development and manufacturing to the UK.
OneWeb will consider any expansion of the company and its supply chain in the UK as part of their regular business planning process.
To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 1 September 2020 to Question 76792 on Oneweb: Investment, what assessment his Department has made of the ability of Oneweb to provide broadband to vast areas currently without connectivity, for example over entire...
To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 1 September 2020 to Question 76792 on Oneweb: Investment, what assessment his Department has made of the ability of Oneweb to provide broadband to vast areas currently without connectivity, for example over entire...
OneWeb’s technology has the potential for providing broadband access to millions of people in remote and rural locations currently without access.
In advance of the Government’s investment, expert advice was provided on the commercial, financial and technical aspects of the investment. The investment will support the UK focus on research and innovation and will put Britain at the cutting edge of the latest advances in space technology.
To ask the Secretary of State for Business, Energy and Industrial Strategy, how much funding the Government plans to invest in the OneWeb satellite system.
To ask the Secretary of State for Business, Energy and Industrial Strategy, how much funding the Government plans to invest in the OneWeb satellite system.
My Rt. Hon. Friend the Secretary of State confirmed that the Government will invest $500 million and take a significant equity share in OneWeb. This investment is made alongside Bharti Global Ltd. Bharti will provide the company commercial and operational leadership and bring OneWeb a revenue base to contribute towards its future success.
To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 16 July 2020 to Question 72998, what the evidential basis is for the Government to expect revenue streams from aerospace, maritime, government and military and enterprise/business broadband from 2022.
To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 16 July 2020 to Question 72998, what the evidential basis is for the Government to expect revenue streams from aerospace, maritime, government and military and enterprise/business broadband from 2022.
This is game-changing technology that could provide broadband to vast areas currently without connectivity, for example over entire oceans. This coverage in connectivity could provide valuable commercial services to sectors such as maritime and aviation, providing new ways to connect ships and planes. The current negotiations are commercially sensitive, so it would not be appropriate to comment further.
To ask Her Majesty's Government how governance of the UK’s equity investment in OneWeb will be structured to maintain the competitive market and level playing field for all UK satellite operators.
To ask Her Majesty's Government how governance of the UK’s equity investment in OneWeb will be structured to maintain the competitive market and level playing field for all UK satellite operators.
The Government is mindful of its responsibility to the Space sector. The commercial operation of OneWeb will be kept separate from the Government’s duties to ensure the transparent and effective operation of markets.
To ask Her Majesty's Government what plans they have to utilise OneWeb in their future defence and commercial strategies; and how many jobs they estimate will result from their investment in OneWeb in the UK.
To ask Her Majesty's Government what plans they have to utilise OneWeb in their future defence and commercial strategies; and how many jobs they estimate will result from their investment in OneWeb in the UK.
OneWeb and its capabilities will be considered as part of the Space Strategy under the direction of the National Space Council. As the OneWeb offering matures, we will monitor its utility to critical national infrastructure, as we do with a variety of capabilities and providers.
The agreement we have secured with Bharti secures 70 existing UK jobs in OneWeb, and we will be looking to expand the company and its supply chain in the UK.
To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 15 July (HL6348), how they propose to be publicly accountable for their investment in OneWeb.
To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 15 July (HL6348), how they propose to be publicly accountable for their investment in OneWeb.
The deal is subject to certain regulatory clearances and is expected to close before the end of the year.
We will have strong representation on the board, fully involved in setting the strategic direction of the business and developing the company’s business plan.
Mechanisms will be implemented for the continued monitoring and evaluation of the investment.
To ask Her Majesty's Government, further to the letter from the Permanent Secretary of the Department for Business, Energy and Industrial Strategy to the Secretary of State for Business, Energy and Industrial Strategy on 26 June, what assessment they have made of the accuracy of the statement “there is a...
To ask Her Majesty's Government, further to the letter from the Permanent Secretary of the Department for Business, Energy and Industrial Strategy to the Secretary of State for Business, Energy and Industrial Strategy on 26 June, what assessment they have made of the accuracy of the statement “there is a...
The Government carried out a detailed examination of the business which demonstrated a commercial case for investment.
The fact that we are investing alongside a private commercial investor indicates a rational commercial case for investing. The deal will support the UK to be a pioneer in the research, development, manufacturing of novel satellite technologies, whilst boosting UK manufacturing.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what due diligence the Government has undertaken to ensure that its investment in OneWeb is commercially sound.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what due diligence the Government has undertaken to ensure that its investment in OneWeb is commercially sound.
This investment is likely to make an economic return, with due diligence showing a strong commercial basis for investment. The deal contributes to the governmentâs plan to join the first rank of space nations, and signals the governmentâs ambition for the UK to be a pioneer in the research, development, manufacturing, and exploitation of novel satellite technologies enabling enhanced broadband through the ownership of a fleet of Low Earth orbit satellites.
We expect revenue streams from 2022 in several areas including aerospace, maritime, government & military and Enterprise/business broadband.
To ask the Secretary of State for Business, Energy and Industrial Strategy, which Departments participated in the purchase of Oneweb; and what the expected return is on the Government's investment.
To ask the Secretary of State for Business, Energy and Industrial Strategy, which Departments participated in the purchase of Oneweb; and what the expected return is on the Government's investment.
The Government collectively reviewed and agreed to lead a successful bid to acquire OneWeb, who develop cutting-edge satellite technology in the UK and in the United States.
This investment is likely to make an economic return, with due diligence showing a strong commercial basis for investment. The deal contributes to the government’s plan to join the first rank of space nations, and signals the government’s ambition for the UK to be a pioneer in the research, development, manufacturing, and exploitation of novel satellite technologies enabling enhanced broadband through the ownership of a fleet of Low Earth orbit satellites.
To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will publish the (a) business case and (b) risk assessment for the decision to invest in OneWeb.
To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will publish the (a) business case and (b) risk assessment for the decision to invest in OneWeb.
OneWeb holds a position as a global leader in Low Earth Orbit technology. This investment secures that leading position and signals the Government’s ambition for the UK to be a pioneer in high-tech satellite technology.
Due diligence has shown that the investment is going to be commercially sound and is likely to make an economic return. Our investment provides a stable platform for OneWeb’s development and unlocks a range of future commercial and strategic opportunities for the UK.
My Lords, I am convinced that we should capitalise on our world-leading satellite capability and, if possible, expand it. Although there are risks, putting Galileo in the shade would be
very good news, and I congratulate the Government on this vision, albeit that it is high-risk. As we move on from the impact of Wuhan virus and Brexit, does the Minister agree that we must grasp the new technologies of AI, quantum engineering, the internet of things, big data et cetera, and that it is a disgrace that a country with the scientific capability of the UK does not have an equivalent of Silicon Valley? In 1946, it was decided that for national security we should develop an atom bomb. The cost was huge. Does the Minister agree that for reasons of national security, we should generate an equivalent of Silicon Valley and an ability to create a world-beating, resilient telecommunications network, even if the cost is huge, and, ditto, civil nuclear power?
My Lords, I am convinced that we should capitalise on our world-leading satellite capability and, if possible, expand it. Although there are risks, putting Galileo in the shade would be
very good news, and I congratulate the Government on this vision, albeit that it is high-risk. As we move on from the impact of Wuhan virus and Brexit, does the Minister agree that we must grasp the new technologies of AI, quantum engineering, the internet of things, big data et cetera, and that it is a disgrace that a country with the scientific capability of the UK does not have an equivalent of Silicon Valley? In 1946, it was decided that for national security we should develop an atom bomb. The cost was huge. Does the Minister agree that for reasons of national security, we should generate an equivalent of Silicon Valley and an ability to create a world-beating, resilient telecommunications network, even if the cost is huge, and, ditto, civil nuclear power?
The noble Lord asks a lot of questions and there is not time to address all of them. We are investing in this as a one-off strategic opportunity to own a satellite communications network, working with Bharti Global Ltd, and to support our ambition for the UK to be a pioneer of novel satellite technologies. We are delighted that our bid was successful.
The noble Lord asks a lot of questions and there is not time to address all of them. We are investing in this as a one-off strategic opportunity to own a satellite communications network, working with Bharti Global Ltd, and to support our ambition for the UK to be a pioneer of novel satellite technologies. We are delighted that our bid was successful.
The noble Lord asks a lot of questions and there is not time to address all of them. We are investing in this as a one-off strategic opportunity to own a satellite communications network, working with Bharti Global Ltd, and to support our ambition for the UK to be a pioneer of novel satellite technologies. We are delighted that our bid was successful.
My Lords, I am convinced that we should capitalise on our world-leading satellite capability and, if possible, expand it. Although there are risks, putting Galileo in the shade would be
very good news, and I congratulate the Government on this vision, albeit that it is high-risk. As we move on from the impact of Wuhan virus and Brexit, does the Minister agree that we must grasp the new technologies of AI, quantum engineering, the internet of things, big data et cetera, and that it is a disgrace that a country with the scientific capability of the UK does not have an equivalent of Silicon Valley? In 1946, it was decided that for national security we should develop an atom bomb. The cost was huge. Does the Minister agree that for reasons of national security, we should generate an equivalent of Silicon Valley and an ability to create a world-beating, resilient telecommunications network, even if the cost is huge, and, ditto, civil nuclear power?
As recently as last year, OneWeb raised $1.25 billion, then in March of this year, having launched only a fraction of the satellites that it needs, it filed for bankruptcy protection. Clearly, the American market was not prepared to back it any more. For now, the UK Government, along with Indian tycoon Sunil Bharti Mittal, have committed a further billion dollars. On recent experience, that will last about nine months. How much more will it cost the British taxpayer before the Minister and his colleagues realise that this is not a good investment?
As recently as last year, OneWeb raised $1.25 billion, then in March of this year, having launched only a fraction of the satellites that it needs, it filed for bankruptcy protection. Clearly, the American market was not prepared to back it any more. For now, the UK Government, along with Indian tycoon Sunil Bharti Mittal, have committed a further billion dollars. On recent experience, that will last about nine months. How much more will it cost the British taxpayer before the Minister and his colleagues realise that this is not a good investment?
As I have said, given commercial considerations, I am unable to provide further detail on ongoing discussions, but we will be discussing the future funding of the business, and the merits of bringing in additional shareholders, with our partners in due course.
As I have said, given commercial considerations, I am unable to provide further detail on ongoing discussions, but we will be discussing the future funding of the business, and the merits of bringing in additional shareholders, with our partners in due course.
As I have said, given commercial considerations, I am unable to provide further detail on ongoing discussions, but we will be discussing the future funding of the business, and the merits of bringing in additional shareholders, with our partners in due course.
As recently as last year, OneWeb raised $1.25 billion, then in March of this year, having launched only a fraction of the satellites that it needs, it filed for bankruptcy protection. Clearly, the American market was not prepared to back it any more. For now, the UK Government, along with Indian tycoon Sunil Bharti Mittal, have committed a further billion dollars. On recent experience, that will last about nine months. How much more will it cost the British taxpayer before the Minister and his colleagues realise that this is not a good investment?
My Lords, I welcome the Government’s stake in OneWeb. It will help deliver high-speed broadband in the UK and the rest of the world. On the issue of risk, does the Minister agree that anyone setting up frontier firms knows that there is no gain without risk?
Turning to the golden share, the Minister said that national security was the consideration. What about a company’s record on theft of intellectual property, abuse of the workforce through modern slavery and other anti-competitive practices? Will they also be taken into account?
My Lords, I welcome the Government’s stake in OneWeb. It will help deliver high-speed broadband in the UK and the rest of the world. On the issue of risk, does the Minister agree that anyone setting up frontier firms knows that there is no gain without risk?
Turning to the golden share, the Minister said that national security was the consideration. What about a company’s record on theft of intellectual property, abuse of the workforce through modern slavery and other anti-competitive practices? Will they also be taken into account?
We will use our golden share to full advantage for the British taxpayer. We will take all those considerations into account, but primarily national security.