- Shares in defence product maker XTEK (XTE) have traded declined somewhat today despite a new business deal struck with France-based MECANO ID
- The two companies have inked up a memorandum of understanding to explore potential opportunities in the space tech market
- MECANO ID is an accredited space systems provider focussing on mechanical and thermal systems for spacecraft and space payloads
- Meanwhile, XTEK is looking to develop its own space system in Australia using its XTclave advanced composite product
- As such, under today’s MOU, XTEK will supply its advanced composite products to MECANO ID, while MECANO ID will act as a space system development service provider to XTEK
- However, investors didn’t seem too phased by the news given how vague the deal between the two tech specialists is
- Shares in XTEK fell a slight 0.91 per cent today to close at 54 cents each
Shares in defence product maker XTEK (XTE) have traded somewhat sideways today despite a new business deal struck with France-based MECANO ID.
The two companies have inked up a memorandum of understanding (MOU) over potential international space market programs.
The terms and purpose of the MOU are relatively vague, however, with XTEK simply describing the partnership as a way for the companies to exploit “mutual benefit” and explore commercial opportunities in the domestic and international space tech markets.
MECANO ID is a space tech specialist focussing on mechanical systems engineering, composite development and manufacturing, and mechanical and thermal tests.
The company is an accredited space systems provider mainly dedicated to spacecraft structures. According to XTEK, MECANO ID is recognised by the French National Centre for Space Studies as an industry leader in mechanical and thermal systems for spacecraft and space payloads.
Meanwhile, XTEK is busy developing its own space system design in Australia. The company’s XTclave technology is designed to cure and consolidate different materials and is currently suited to make military equipment like armour, carriage equipment and unmanned aircraft.
However, XTEK claims the unique XTclave technology has space applications, too.
As such, under today’s MOU, XTEK will supply its advanced composite products to MECANO ID, while MECANO ID will act as a space system development service provider to XTEK.
Nevertheless, it seems investors weren’t particularly phased by the business agreement between the two tech specialists.
Shares in XTEK fell a slight 0.91 per cent today to close at 54 cents each. The company has a $38.7 million market cap.