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Avanti raises Ј31m to secure satellite launch
|02 июля 2009|
Avanti Communications, the satellite broadband company, on Wednesday said it had raised £31.5m from a share placing, which it will use to secure the launch of its first satellite next year.
The shares were placed with institutional shareholders at 225p each. The company also received £10.7m funding from the European Space Agency.
Avanti is to launch a satellite that could provide high-speed internet connections to people, especially in rural areas, who are unable to connect to the terrestrial broadband network. An estimated 70m homes across Europe may need to consider satellite as an alternative, creating a large potential market for the company.
However, some investors and customers had been concerned about Avanti using SpaceX , a US start-up launch company, to send the satellite into space. The extra funding will allow Avanti to switch to launching with Arianespace, which has a long, unbroken record of successful launches.
Avanti is under pressure to prove it can launch successfully, as it is in talks over potential government backing for the launch of a second satellite.
Источник: Financial Times