Kymeta Corporation
Announces $30 Million Equity Investment by
Hanwha Systems to Back Global Mobile
Satellite-Cellular Connectivity
December 28, 2020
Hanwha Systems (HSC)
has signed an agreement to invest $30 million to
back the development of Kymeta’s next generation
solutions, the Kymeta u8™ and Kymeta Connect™.
The investment will further
Kymeta’s global market reach, accelerate
production of Kymeta products and solutions, and
improve the overall growth trajectory of the
company. The funding is anticipated to support
increased unit production, an enhanced customer
experience, and the ongoing development of
Kymeta’s next generation capabilities. HSC aims
to support Kymeta’s metamaterial-based antenna
technology and gain a foothold in the rapidly
growing Low Earth Orbit (LEO) antenna market.
With the capital investment and upon regulatory
approvals, HSC will also receive a seat on the
Kymeta Board of Directors.
“The objective of our
investment in Kymeta is to enter the LEO
satellite antenna market early on, and diversify
our technology portfolio,” said Youn Chul Kim,
CEO of Hanwha Systems. “With the expertise of
HSC’s top-notch defense communication and radar
technologies, we are joining hands with this
promising U.S. satellite antenna company. All
these efforts will further strengthen HSC’s
aerospace systems capabilities.”
The investment follows the
commercial availability of Kymeta’s
next-generation antenna, terminal, and services
on November 30, 2020. Kymeta offers seamless and
uninterrupted mobile satellite-cellular
connectivity to satisfy the overwhelming demand
for communications on the move. Kymeta’s new
products and services offer a breakthrough in
performance, ease of use, and affordability. The
company anticipates that these solutions will
further enhance its position in both commercial
and government markets.
“Support from HSC will help
us expand our reach and drive the development
and productization of our meta-material based
antenna technology,” said Doug Hutcheson,
Executive Chairman, Kymeta. “LEO antenna
solutions will become preferred for
latency-sensitive and highly mobile applications
as additional LEO satellites are launched and
constellations are deployed. Kymeta’s solutions
work on existing GEO networks and are LEO
upgradeable. We look forward to working with HSC
to develop technologies and solutions that are
reliable and critical for communications on the
move.”