CFIUS Approves Hanwha’s Funding in LEO Antenna Tech Developer Kymeta
The United States Foreign Investment Committee has approved a $ 30 million investment by South Korea-based Hanwha Systems to help Kymeta advance its low-earth and geostationary orbit flat antenna technology and other next-generation capabilities.
“We believe this investment will be instrumental in enabling the continued innovation, development and commercialization of Kymeta’s connectivity solutions,” said Doug Hutcheson, Kymeta’s executive chairman, in a statement released on Wednesday.
Hanwha Systems will get a seat on Kymeta’s board of directors as part of the capital investment first announced in December.
Kymeta will also use the investment to expand its global market presence, improve customer experience, accelerate production and drive other growth initiatives.
Youn Chul Kim, CEO of Hanwha Systems, said Kymeta’s hybrid satellite and connectivity platforms will strengthen Hanwa’s aerospace and communications capabilities for defense customers.