Japanese telecoms and energy company SoftBank has agreed to invest $US1 billion ($A1.4 billion) in the US company OneWeb, which plans to build a factory in Florida that the companies say could create 3,000 jobs.
OneWeb plans to build a network of satellites to provide global broadband access.
The two companies announced lthat OneWeb had obtained pledges of $US1.2 billion from SoftBank and other investors.
The $US1 billion commitment follows a promise by SoftBank founder Masayoshi Son to President-elect Donald Trump to create 50,000 jobs and invest $US50 billion in US startups.
The funds will finance the construction of a satellite factory in Exploration Park, Florida, to produce 15 satellites per week at a low cost. The companies said the business could create nearly 3,000 new engineering, manufacturing and other jobs.
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OneWeb expects the factory to go online in 2018.
Tokyo-based SoftBank is one of Japan's biggest telecoms providers, with more than 63,590 employees, a solar power business, humanoid robots for home use, ride-booking services and financial technology. It recently set up a $US25 billion private fund for technology investments, along with Saudi Arabia and other investors, that Son says could grow to $US100 billion.
