U.S. Committee Approves Hanwha’s Investment into Kymeta
Wednesday, May 26, 2021 | Comments

The. U.S. Committee on Foreign Investment in the United States (CIFUS) approved Hanwha System Co.’s (HSC) previously announced investment of $30 million in Kymeta.

“We are thrilled that the investment is approved and eager to leverage Kymeta’s expertise in hybrid satellite and cellular connectivity solutions,” said HSC CEO Youn Chul Kim. “Kymeta’s solutions will further our aerospace capabilities and deliver reliable communications for our defense customers.”

CFIUS’ approval clears the way for HSC and Kymeta to close on the transaction. The investment moves Kymeta one step closer toward developing solutions that are futureproof and interoperable with both low-Earth orbit (LEO) and geostationary orbit (GEO) mega satellite constellations. The Kymeta u8 flat panel antenna is compatible with LEO and GEO satellite constellations and enabled to take advantage of the growing capacity within space.

“We look forward to moving ahead and working with HSC,” said Kymeta Executive Chairman Doug Hutcheson. “We believe this investment will be instrumental in enabling the continued innovation, advancement and commercialization of Kymeta’s connectivity solutions. We’re excited about the future of Kymeta and the LEO satellite market.”

The investment from HSC will further Kymeta’s global market reach, accelerate production and improve the overall growth trajectory of the company. The funding will support increased unit production, enhanced customer experience and the ongoing development of Kymeta’s next-generation capabilities. With the capital investment, HSC will also receive a seat on the Kymeta board of directors.

HSC plans to support Kymeta’s metamaterial-based antenna technology and gain a foothold in the rapidly growing LEO antenna market.

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