Filtronic PLC, a designer and manufacturer of products for aerospace, defense, telecoms infrastructure, and critical communications markets, has announced a significant contract win from SpaceX. The $9m follow-on production order is for E-band solid state power amplifier ("SSPA") modules to support the ongoing deployment of SpaceX's Starlink constellation, providing high-speed, low-latency internet globally. The order is irrevocable and is expected to be fulfilled in the current financial year.
This order is part of the Strategic Partnership signed in April 2024, with the vesting of 2,171,211 share warrants. The company has issued two tranches of warrants, and this vesting of warrants is part of tranche 1, related to the supply of E-band SSPAs. In total, 8,684,844 share warrants have now vested, representing 4% of the maximum 5% of the company's share capital at the time of the signed agreement.
Nat Edington, Chief Executive Officer, expressed delight at the further order from SpaceX, emphasizing the significant role Filtronic is playing in supporting SpaceX's mission. The company's ongoing partnership with SpaceX underscores its importance in the aerospace and telecommunications industries.
For further information, investors can contact Filtronic plc or Cavendish Capital Markets Limited. Media inquiries can be directed to Walbrook PR Limited.