Microwave technology firm Filtronic has scored another multi-million-pound contract with Elon Musk’s SpaceX, it revealed today.
The London-listed company, which is headquartered in Leeds and supplies products to the aerospace, defence, space and telecoms infrastructure sectors, said the $8.4m (£6.4m) production order from the satellite internet company was a positive sign that demand remained high for its E-band solid state power amplifier (SSPA) modules.
The order is expected to be fulfilled in calendar year 2025, leading Filtronic to increase its trading outlook for that year. The firm’s shares were up 3.29 per cent in early deals following the announcement.
This latest win comes months after the company announced it had entered into a strategic partnership with SpaceX, which included the ongoing supply of products for Musk’s Starlink platform.
The agreement was signed in April with an initial order of $19.7m (£15.8m) to supply E-band SSPA modules, scheduled for delivery in FY2025. Following the announcement Filtronic’s shares soared 52 per cent in early deals.
As part of the deal, SpaceX received 21.7m warrants from Filtronic, which enabled the US giant to subscribe for up to 10 per cent of the Leeds-based company’s shares.
Nat Edington, CEO, said: “We are delighted to receive another production order from our partner, SpaceX, as we continue to support the deployment of the Starlink constellation with E-band technology.”