Satellite Company O3b Networks that stands for "other 3 billion," referring to the world's population that still can't access the Internet, teamed up with Google and other investors such as cable operator Liberty Global - the U.S. cable operator controlled by John Malone, and the bank HSBC, to bring wireless Internet access to areas where they lack it completely.

Their main targets are Africa, Asia, Latin America and the Middle East. What they intend to do is use 16 satellites but the $60million they had raised until now are not enough. The satellites are to be constructed by Thales Alenia Space. Thus the first phase of the development will be half that number, and is scheduled to start functioning by the end of 2010 according to a statement on Tuesday.

These satellites orbit our planet at lower altitudes than those used to beam TV signals to homes, they work better for Internet access. The idea of using satellites to connect to the Internet is not new but previous investors were discouraged by the very high costs of the investments. Therefore most of the world's Internet and voice traffic flows through speedy undersea and underground fiber links and never expanded towards poor or remote areas of the world.

South African Finance Minister Trevor Manuel welcomed the project during a conference in Germany. The company's founder, Greg Wyler, told Reuters that they plan to reach from Spain to South Africa and to include most of South America, too, as well as large parts of Asia and all South Pacific Islands.