SoftBank JV to invest $125m in Project Loon
Japan's SoftBank has announced that its joint venture HAPSMobile will invest $125 million in Google's Project Loon to advance the use of high-altitude vehicles to carry mobile base stations.
HAPSMobile, the joint venture between SoftBank and US-based unmanned aerial vehicle systems company AeroVironment, was established in 2017 to conduct network equipment research and development for the high-altitude platform station (HAPS) business.
Under the agreement with Google, Loon has been given the right to invest the same sum in HAPSMobile at a later date.
The two companies have also agreed to actively explore commercial collaborations to accelerate the development of high altitude network connectivity solutions, such as the network of stratospheric balloons that Loon is trialling to deliver internet access to unserved areas of the world.
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