MoU Signed by Terran Orbital, Hanwha Systems
Aims to Bolster the Defense Capabilities of Both the United States and South Korea
A Memorandum of Understanding (MOU) has been signed between Terran Orbital and Hanwha Systems solidifying their strategic partnership, and marking a significant milestone in their collaborative efforts to develop state-of-the-art solar and satellite solutions through Hanwha Systems and its subsidiary, Flexell Space.
"This collaboration marks a significant milestone, enabling us to expand our satellite solutions and deliver unparalleled service to a broader customer base across Asia.”
Marc Bell, Terran Orbital
This strategic partnership aims to bolster the defense capabilities of both the United States and South Korea by providing cutting-edge solutions to the warfighter and establishing a robust supply base.
As part of this collaboration, Terran Orbital and Hanwha Systems will work together on satellite manufacturing, including solar cells, and cooperate in the defense industry in both the US and South Korea. This strategic move will enable both companies to co-create joint solutions tailored for government bids, thereby advancing their mission objectives.
Through this collaboration, the companies plan to conduct Collaborative Research & Development on Satellite Power Systems. The MOU establishes a framework for joint research and development efforts, fostering innovation and leading to breakthroughs in solar technology for satellites with Flexell Space. The partnership will also focus on delivering the latest satellite technologies, providing a strategic edge in various defense scenarios.
The agreement is also intended to lead to resource and knowledge Sharing. By sharing resources, knowledge, and best practices, Terran Orbital and Hanwha Systems aim to accelerate the development cycle, enhance product performance, and deliver cost-effective solutions to defense customers, and geographic expansion, with Terran Orbital establishing a footprint in Korea and Flexell expanding into the US.
"This collaboration marks a significant milestone, enabling us to expand our satellite solutions and deliver unparalleled service to a broader customer base across Asia. Together, we are poised to drive innovation and elevate the standards of excellence in the satellite industry,” said Marc Bell, Co-Founder, Chairman, and Chief Executive Officer at Terran Orbital.
“Flexell’s ability to mass-produce these advanced solar cells not only addresses existing market bottlenecks but also exceeds performance requirements, positioning us as a game-changer in the realm of space solar technology. We look forward to strengthening our position in the global satellite industry through a variety of technical collaborations with Terran Orbital,” said Tim Ahn, Chief Executive Officer of Flexell Space, a subsidiary of Hanwha Systems.
The MoU underscores the shared vision and mutual commitment of Terran Orbital and Hanwha Systems to drive innovation and deliver cutting-edge satellite solutions, reinforcing their leadership in the aerospace and defense sectors.