DoD to bailout US space companies failing due to COVID-19 as China looks to invest in them
An American company hoping to help the US Space Force bring internet to the Arctic has gone bankrupt in the midst of the Chinese-started pandemic- and now the US military may help foot the bill to prevent the company from falling into Chinese hands.
OneWeb, the company that was aiming to assist the DoD as they re-enter the Arctic Theater of Operations in ways that cause some to remember the Cold War, is one of several commercial space companies that have fallen on hard times.
Now, according to Lt. Gen. David Thompson, vice commander of Headquarters Space Force, the DoD may find a way to keep them from being bought by the Chinese.
“I will say with respect to OneWeb specifically and others, we continue to work,” he said during a May 12 event held by the Mitchell Institute for Aerospace Studies. “We work with the White House and we’ll be working with Congress, not just focused on OneWeb but all of the commercial space companies that face bankruptcy and face those concerns.”
The company has launched 74 satellites and has shown promise when it comes to providing for US defense.
Unfortunately, two unnamed Chinese firms have also submitted proposals- and all Chinese companies fall under the Chinese Communist Party.
In an effort to protect their assets, the US is now looking to help OneWeb out so “that potential adversaries don’t have the opportunity to acquire those capabilities.”
According to Defense News, OneWeb previously announced it would begin to provide low-latency broadband service to the Arctic by the end of 2020, with full, 24-hour coverage expected in 2021.
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