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A Subsidiary of SoftBank Corp. announced on Wednesday that it has invested $ 125 million in a company owned by Alphabet Inc., which is working to fly mobile phone antennas into the high-level of the atmosphere to provide the Internet with hard to reach areas.
SoftBank's HAPSMobile, which is also trying to drive high-altitude network equipment to provide high-speed Internet access in areas beyond ground-towers, has announced that it has invested in Loon, a unit of the Google owner.
Loon, released from the Alphabet Incubator in July, wears equipment with a long balloon while HAPSMobile uses a drone. Both systems operate on solar energy, limiting the areas they can serve in the equatorial regions of the globe.
Mobile network operators, governments and other potential customers still need to be very enthusiastic about purchasing such technologies, despite the need to address Internet coverage gaps in rural areas or during disasters natural.
The two companies compete with billionaire entrepreneurs such as Elon Musk, Richard Branson, and Jeff Bezos, both of whom are supporting separate businesses that aim to provide Internet links using satellites in near Earth orbit.
At a press conference held in Tokyo on Wednesday, Loon and HAPSMobile said they needed to work together to entice their customers and discuss technology sharing, equipment standardization and cooperation in regulatory discussions. .
The companies said in a joint statement that they have a "long-term" partnership.
"I am confident that we can accelerate the realization of the use of the stratosphere for global networks by pooling our technologies, knowledge and experience," said Junichi Miyakawa, Technical Director of SoftBank and General Manager of HAPSMobile, in its press release.
Miyakawa stated that HAPSMobile had taken a minority stake in Loon at his request and was entitled to observe the board meetings. HAPSMobile did not expect to finance other companies operating in the same field, but was willing to receive investment, he said.
HAPSMobile, which uses the technology developed by the drone manufacturer AeroVironment Inc. and holds 10% stake in the Softbank unit, planned to test his drone at Lanai Airport in Hawaii and was also planning to conduct tests in Australia, said Miyakawa to Reuters.
Obtaining certification from aviation agencies could take up to three years, he said.
Mr Loon, who has been testing balloons for nearly ten years and plans to hold his first commercial trial in Kenya by the middle of the year, has not ruled out additional fundraising, said the general manager, Alastair Westgarth.
Loon has the option to invest $ 125 million in HAPSMobile for a minority stake at a later date.
© (c) Copyright Thomson Reuters 2019.
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