Home » News & Blogs » Billionaire invests in British company planning deep space communications network
Bookmark and Share
Space News

Billionaire invests in British company planning deep space communications network

16 May 2018, 22:13 UTC
Billionaire invests in British company planning deep space communications network
(200 words excerpt, click title or image to see full post)

WASHINGTON — A British billionaire has invested in a company operating a ground station that has aspirations to support commercial missions beyond Earth orbit.
Goonhilly Earth Station Ltd. announced May 14 that Peter Hargreaves, the co-founder of British financial firm Hargreaves Lansdown, has invested £24 million ($32 million) in the company, which operates a ground station in Cornwall, England.
Goonhilly didn’t disclose the size of the stake Hargreaves, a billionaire whose net worth was estimated by Forbes earlier this year at $3.9 billion, acquired in the company. In a statement, he said that he saw the company as a high-growth opportunity in an emerging market.
“The team at Goonhilly have been delivering on an insightful vision which has already propelled them to the key position in this expanding market,” he said. “I wanted to add my backing to ensure they can realize their bold plans to be the recognized leader in the field.”
Goonhilly operates more than 20 antennas ranging in size from a few meters to 32 meters in diameter. The company acquired the facility from British Telecom in 2014 after leasing some antennas there for three years and has since invested more than $5 million in updating the ...

Latest Vodcast

Latest Podcast

Advertise PTTU

NASA Picture of the Day

Astronomy Picture of the Day

astronomy_pod