TerreStar nabs $300 million in funding, aims for satellite launch by end of year

TerreStar certainly hasn't been flooding us with news over the years, but it looks like the company's been keeping itself busy nonetheless, and its now scored an impressive $300 million in funding for its efforts. That money, coming from EchoStar and Harbinger Capital Partners, will largely be used to fund the company through the launch of its TerreStar-1 "hybrid mobile satellite" (pictured above in a circa 2005 mockup), which promises to power cellphones that'll be able to use traditional terrestrial networks and fall back on satellite when there's no other signal. What's more, despite the three-year-gap since the initial announcement, TerreStar says it's still shooting for a launch by the end of this year, with Arianespace confirming that it's able to provide the transport into space during the December 2008 through February 2009 launch window.