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On 2021-01-14, Hanwha Aerospace planned to invest approximately $100,000,000 to purchase 30% of the shares of satellite manufacturer Satrec Initiative.
Hanwha Systems, a subsidiary of Hanwha Aerospace, develops active electronically scanned array radars and electro-optical and infrared surveillance and reconnaissance systems.
Hanwha Aerospace plans to invest approximately $100,000,000 to purchase 30% of the shares of satellite manufacturer Satrec Initiative, with the plan disclosed on 2021-01-14.
Once the deal is completed, Satrec Initiative will be managed independently but will have access to Hanwha Aerospace’s radar and infrared technologies.
Hanwha Systems aims to support Kymeta’s metamaterial-based antenna technology and gain a foothold in the rapidly growing LEO antenna market.
Hanwha Systems signed an agreement to invest $30,000,000 to back the development of Kymeta’s Kymeta u8™ and Kymeta Connect™ solutions.
The capital raised from Hanwha Systems is anticipated to support increased unit production, an enhanced customer experience, and the ongoing development of Kymeta’s next-generation capabilities.
Phasor entered a bankruptcy-equivalent state earlier in 2021 and was later acquired by South Korean defense company Hanwha Systems.
Hanwha Systems announced on 2020-06-08 that it closed a deal to acquire Phasor Solutions’ business and assets.
Thales Alenia Space signed separate contracts with Korean Aerospace Industries and Hanwha Systems Corp. on 2018-12-05 to develop four high-resolution radar satellites for South Korea’s Agency for Defence Development.
Thales Alenia Space will share information with Korean Aerospace Industries and Hanwha Systems on building remote sensing satellites with synthetic aperture radar payloads.