Xtek Ltd - XTEK (ASX:XTE) signs MOU with  Space Tech Company MECANO ID
Xtek Ltd (ASX:XTE)

XTEK (ASX:XTE) signs MOU with Space Tech Company MECANO ID

Highlights

What has happened?

XTEK (ASX:XTE) announced that they have signed a Memorandum of Understanding (MOU) with leading French space technology company MECANO ID to accelerate their move of becoming an advanced composite product supplier in the booming space sector. The MOU could see XTEK work in conjunction with MECANO ID by supplying them with their XTclave™ technology.

What are the key highlights?

  • XTEK reported that they have signed an MOU with MECANO ID, a French space technology company.
  • MECANO ID is an established French space system supplier accredited in Europe and proven supplier to ESA, CNES and NASA programs.
  • XTEK is developing a sovereign space system design, qualification, and manufacturing capabilities within Australia.
  • The Company’s novel processing technology (XTclave™) will be coupled with MECANO ID’s proven experience in space system development and qualification.
  • XTEK and MECANO ID to work in partnership to pursue international and Australian space market opportunities.

What does this announcement mean?

SmallCapInsider from Mawson Graham provides perspective on this recent announcement.
SmallCapInsider
Written by SmallCapInsider
Published May 21, 2021

The MOU signing between XTEK and MECANO ID further reiterates the Company’s vision of becoming a significant player in the booming global space technology market. The agreement could see XTEK providing MECANO ID with their proprietary XTclave™ technology. XTclave™ technology is particularly suitable for space applications as its ultra-high consolidation pressures manufactures lighter, stronger, more complicated composite geometries when compared with conventional processing methods.

MECANO ID is a French space company based in Toulouse, with about 10M$ of turnover and over 26 years of experience, mainly dedicated to spacecraft structures engineering, manufacturing and testing. The French Company is an accredited space systems provider (ISO 9001, EN 9100) mainly dedicated to spacecraft structures and is recognised by the French Space Agency CNES as industry leaders in the development of advanced mechanical and thermal systems for spacecraft and space payloads.

The information within this section has been provided by Mawson Graham Pty Ltd and is for general information purposes only and is not intended to reflect any recommendations or financial advice. The information in this section has been prepared without taking into account your objectives, financial situation or needs. For this reason, you should consider the appropriateness of the advice or recommendation in light of your own personal circumstances, relevant risk factors, the nature and extent of your risk of loss, as well as the legal and accounting consequences before acting making an investment or trading decision regarding any Financial Product mentioned herein. While it is believed that all information sourced and contained within this section to be accurate at the time of publication, liability for any errors, omissions, accuracy or completeness of the information (except any statutory liability which cannot be excluded) is specifically excluded by Mawson Graham Pty Ltd, its associates, officers, directors, employees and agents. Past performance is not a reliable indicator of future performance. Important Disclosure: Mawson Graham Pty Ltd, its directors, associates and employees advise that they may hold securities, may have an interest in and/or earn brokerage, investor relations fees, corporate fees, and other benefits or advantages, either directly or indirectly from client transactions arising from any information mentioned within this section and in documents published within this section.
Mawson Graham
Mawson Graham

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