Filtronic secures $9m SpaceX contract

23rd Jul 2024 12:18

(Sharecast News) - Components manufacturer Filtronic has secured a $9.0m contract with Elon Musk's SpaceX.

Filtronic said on Tuesday that the agreement, which was for a follow-on production order, represented a continuation of demand for its E-band solid state power amplifier modules to support the ongoing deployment of SpaceX's Starlink constellation.

The AIM-listed group anticipates that the order will be fulfilled in the current financial year.

Chief executive Nat Edington said: "We are delighted to receive this further order from our partner, SpaceX, as we continue to support the rollout of the Starlink constellation. The order demonstrates the continued significant role we are playing in helping SpaceX achieve their mission."

As of 1215 BST, Filtronic shares were up 2.36% at 76.0p.

Reporting by Iain Gilbert at Sharecast.com

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