Airbus's Stratospheric Drone Business Secures $100 Million From Japanese Investors

By Mauro Orru

Aalto HAPS, an Airbus unit developing high-altitude drones that offer mobile connectivity and Earth observation services, secured $100 million in investment commitments from a consortium of Japanese investors and banks as the business prepares to launch commercial operations.

A consortium including mobile operator NTT Docomo, Space Compass--a joint venture between NTT and SKY Perfect JSAT--Mizuho Bank and the Development Bank of Japan made the commitment, which Aalto HAPS Chief Executive Samer Halawi said would help the company move into its next phase of development before launching commercial operations in 2026.

Aalto HAPS makes solar-powered, fixed-wing drones that operate above 60,000 feet. Known as Zephyr, these high-altitude platform stations, or HAPS, can be fitted with payloads that provide 5G connectivity as well as services such as wildfire prevention and border control via Earth observation.

Halawi said in an interview earlier this year that the company is on the hunt for investors other than Airbus to scale up its business and build revenue ahead of its planned rollout of services.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

June 03, 2024 06:49 ET (10:49 GMT)

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