SEOUL, March 16 (Korea Bizwire) — Hanwha Systems Co., the defense and ICT unit of South Korean conglomerate Hanwha Group, said Wednesday it has invested US$11 million in a U.S. flat panel satellite antenna developer, as it advances its push for space communications technologies.
The latest funding for Kymeta Corp., located in the Washington state, is part of the $84 million equity financing the American company has secured from various investors, including the founder of Microsoft Corp. Bill Gates, according to Hanwha Systems’ press release.
Kymeta, founded in 2012, specializes in developing meta-materials technology-based electronically steerable antennas (ESA), a more advanced type of flat panel antennas designed to enable seamless satellite communication.
ESA antennas are mounted on airplanes, ships, trains and other vehicles that travel remote distances to provide high speed satellite internet communication.
Hanwha Systems has been developing low-Earth orbit satellite communication antennas as it pushes to expand its space internet business as one of the future growth drivers.
Hanwha Systems has made investments in overseas companies owning related technologies, including the initial $30 million investment in Kymeta in late 2020.