A British tech firm has secured its biggest-ever contract with Elon Musk’s SpaceX worth £47.3million.
Shares in London-listed defence and telecoms equipment maker Filtronic jumped 3.7 per cent as investors welcomed the ‘landmark agreement.
The deal will see it supply its next-generation gallium nitride E-band technology, which is a type of radio frequency (RF) tech designed for high-performance wireless communication.
Filtronic – which is based in Sedgefield, County Durham – said the order is set to boost its revenue in 2026-27, when it will begin shipping product units under the contract, as well as in 2027-28.
Nat Edington, chief executive of Filtronic, said: ‘We are extremely proud to announce this landmark contract, which not only sets a new commercial record for Filtronic, but also reflects the success of our partnership with world-leading satellite company SpaceX, supporting the Starlink constellation.’
It sees the firm further cement its role in SpaceX’s Starlink programme, with Filtronic having first struck up a strategic partnership and commercial agreement with SpaceX in April 2024.
Blast off: Shares in London-listed defence and telecoms equipment maker Filtronic jumped 3.7% after it secured a contract with Elon Musk’s SpaceX worth £47.3m
In February, Filtronic announced a £16.8million contract with the US aerospace firm. Starlink hailed Filtronic as a ‘valuable partner’ to SpaceX.
Mike Nicolls, vice president of engineering at Starlink, said: ‘This next-generation technology will provide further benefits to our system and our customers’ experience, and we’re excited to enter this next phase with Filtronic.’
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