Just as other UK space companies were dealing with disappointment overnight, OneWeb cheered the successful deployment of another 40 of its satellites by SpaceX and said it will start marketing its communications services to potential customers.
This was the second of three launches the UK government-backed communications satellite company has booked with Elon Musk's rocket launch outfit, following the cancellation of its deal with Russian operator Roscosmos after the invasion of Ukraine.
Following last month's mission, SpaceX said it offloaded the second batch of small satellites for OneWeb to low-Earth orbit (LEO) overnight.
This launch from Cape Canaveral, Florida brings the total OneWeb constellation to 542 satellites, more than 80% of its planned satellite fleet.
"With this launch, OneWeb kicks-off its ‘Countdown to Global Connectivity’ campaign marking the final launches remaining to complete its first-generation LEO satellite constellation that will offer high-speed, low-latency connectivity solutions," the company said.
An agreement with BT Group PLC (LSE:BT.A) is one of several distribution deals the company has agreed with partners in Alaska, Canada, Greenland and wider Arctic area, with services also said to be "coming soon" for the US, southern Europe, Australia and Middle East.
OneWeb, where the UK taxpayer has a 20% stake alongside investors including India's Bharti and Japan's Softbank, last summer agreed to merge with Paris-listed Eutelsat Communications (OTC:EUTLF).
A London listing is on the cards in the first half of 2023.
The Department for Business, Energy & Industrial Strategy (BEIS) said the merger is "positive news for UK taxpayers: having made a $500 million investment in OneWeb two years ago, the UK government will now have a significant stake in what will become a single, powerful, global space company, working on the sound financial footing needed to make the most of the technological advantages it has to compete in the highly-competitive global satellite industry, against companies around the world".
Eutelsat has a 36-strong fleet of geostationary orbit (GEO) satellites to add OneWeb’s near 500-strong constellation, to generate what the pair said would be combined revenues of €1.2bn.