Vection Technologies (ASX:VR1) has spiked on Monday, gaining as much as +29.7% through to lunchtime trade after signing a $22.3 million AI defence framework with a NATO-approved customer in the European defence sector.
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The augmented and virtual reality software provider hit as much as 7.2 cents a share on Monday morning; VR1 has settled at 7cps at time of writing.
Vection’s price action is no surprise either – the $22.3 million multi-year framework agreement is the company’s largest deal in its history and includes a baked-in extension that may bank another $7.2 million.
The blockbuster agreement expands on past deals with the same customer, who is a certified vendor supporting major European defence integrators and institutions like NATO and the Council of Europe.
The deal, Vection explained, builds on earlier announcements from the company in June and July 2025; those deals with this month’s bring up $40M in value.
Vection has confirmed the new contract will be delivered using existing resources, requiring no additional capital. Orders and revenues will “align with the partner’s multi-year deployment program.” Scale and continuity are the focus.
“This framework strengthens our long-standing relationship with a trusted European partner,” managing director Gianmarco Biagi said.
“[The deal] provides a clear, programmatic path through to 2030, with a portion already delivered and further significant orders on the way. We will maintain discipline in execution and update… as we receive material orders.”
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